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Why UAE consumers must ask for tax receipt

reporters@khaleejtimes.com Filed on March 19, 2018 | Last updated on March 19, 2018 at 05.59 am
Why UAE consumers must ask for tax receipt

The FTA urged consumers to verify the VAT amount on prices displayed in tax invoices.

The Federal Tax Authority (FTA) has asked all UAE consumers to demand tax receipts from retailers when purchasing products or services to prevent attempts to manipulate the tax system. 

The Authority urged all taxable businesses to issue tax invoices when providing any supply, in order to avoid administrative penalties. 

In a new statement issued on Sunday, it stressed that failure to issue a tax invoice or alternative document when making any supply will expose the taxable business to an administrative penalty of Dh5,000 for each tax invoice or alternative document.

Similarly, failure to issue a tax credit note or alternative incurs an administrative penalty of Dh5,000 for each notice or alternative document. 

The FTA urged consumers to verify the VAT amount on prices displayed in tax invoices.

The Authority had launched online instruments and services to enable consumers to easily verify the value of the tax - namely, the VAT Calculator, to ensure that the issuer of the invoice is actually registered with the FTA, through the TRN Verification service.

The services were launched to protect consumer rights and prevent attempts to take advantage of the UAE tax system to manipulate prices, the Authority explained.

-waheedabbas@khaleejtimes.com

Staff Reporter





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