SHARJAH: Sultan Abdullah Bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department, SEDD, said that the Department seeks 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.

He said that there are 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.

The department pays great attention to embracing a wide-ranging and well-organised field plan for the control campaigns on the markets in Sharjah, to ensure the safety of all commercial practices, and 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,  Al Suwaidi added in a statement.

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 emphasised 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 clarified that all investors subjected to VAT should register at the Federal Tax Authority, FTA, 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 FTA.