SEDD Watches Markets to Prevent any Exploitation of VAT
HE Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department “SEDD”, said that the Department seeks to contribute to plan and lead the comprehensive economic development in Sharjah which falls within its strategic plan. Such an aim is adopted to attain leadership in the comprehensive development of a diversified competitive and innovative based-knowledge economy. Also, SEDD pays great attention to embracing a wide-ranging and well-organized field plan for the control campaigns on the markets in Sharjah that are conducted by Commercial Officers from Commercial Control and Protection Department at SEDD over the year. These campaigns are conducted to ensure the safety of all commercial practices in the markets, to raise awareness among traders and consumers, to put an end to all practices of fraud and commercial malfunction, as well as reduce malpractices that anyone may use.
Furthermore, HE pointed out that the Department seeks through these campaigns to ensure that the economic establishments will apply the laws regulating the Value Added Tax (VAT), especially with regard to tax invoice, which will be implemented from the beginning of next month. Also, he pointed out that there are about 12 criteria that must be placed in any tax invoice and 5 criteria in the simplified bill including mainly the description of the goods or services being supplied, the price of each unit of the good or service, the quantity and size to be supplied, and the amount payable in dirhams.
Moreover, HE stressed on the importance of communicating with the public in case of facing any case of commercial fraud or if the providers didn’t complied with the applied rules. He also emphasized on the importance that consumers should keep the purchase bill, which is a reference to them to guarantor their rights if they wish to file a complaint. He added that Department provides several channels to receive complaints such as through the Call Center by calling 80080000 or by visiting www.shjconsumer.ae.
It is worth mentioning that HE clarified that all investors subjected to VAT should register at the Federal Tax Authority before the end of the current year 2017 in order to avoid being subjected to any legal accountabilities. He also stated that the Economic Department will intensify its efforts in monitoring the markets at the Emirate of Sharjah and will cooperate with the concerned authorities in the country too to ensure the commitment of all economic establishments with the requirements imposed by the Federal Tax Authority .