{"id":2053,"date":"2017-12-13T05:49:00","date_gmt":"2017-12-13T05:49:00","guid":{"rendered":"http:\/\/139.59.38.172:8081\/?p=2053"},"modified":"2018-11-17T11:44:24","modified_gmt":"2018-11-17T11:44:24","slug":"strict-notice-to-uae-retailers-on-prices-after-vat","status":"publish","type":"post","link":"https:\/\/www.mymoneysouq.com\/financial-blog\/strict-notice-to-uae-retailers-on-prices-after-vat\/","title":{"rendered":"A Strict Notice to the UAE Retailers on the prices after VAT"},"content":{"rendered":"

<\/b>After VAT has been declared, the FTA was updating each and every step taken on VAT without any hesitation right from the tax on fizzy drinks and tobacco products<\/a> to the deregistration of business from the VAT<\/a>. Even though all the updates are already mentioned in the regulations of the VAT, still the UAE government just wants to make sure that people understand VAT clearly and don\u2019t get conned when this comes into the picture from January 2018. This is to educate people on VAT which is just 5% nothing more than that.<\/p>\n

Also, read<\/strong>: Register your businesses for VAT <\/a><\/p>\n

Commercial Compliance and Consumer Protection <\/h3>\n

The <\/span>CCCP<\/span> (<\/span>Commercial Compliance and Consumer Protection) sector of Dubai has made an appeal to the retailers, not to take an advantage of the VAT and increase the prices of the products in order to compensate the minimal loss. The CCCP took this initiation in order to protect people from paying more than what is required. <\/span><\/p>\n

Product bills and increase the prices<\/h3>\n

The retailers have to print the VAT charges separately on the bills provided and it is mandatory. There would be a constant inspection performed by the officials to make sure that the merchants are not manipulating the prices and abiding by the rules and regulations of the VAT. The retailer should not increase the prices of the products ahead of the VAT or before VAT i.e December 31, 2017. No extra charges other than the VAT of 5%<\/a> should be added to the product price. <\/span><\/p>\n

A consumer should check these 3 points before purchasing a product<\/h3>\n