UAE Ministry of Economy and The Federal Tax Authority (FTA) have launched an integrated program to facilitate the implementation of Value Added Tax (VAT) in order to protect consumers' rights and prevent profiteering.

The announcement was made at a meeting held at the Ministry's headquarters, and was attended by His Excellency Eng. Mohammed Ahmed bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy; His Excellency Khalid Al Bustani, Director-General of the FTA; and representatives of the Economic Development Departments and other entities responsible for protecting consumer rights in the country.

Preventing businesses from taking advantage of the introduction of VAT to increase prices was the main subject on the agenda. The meeting concluded with the adoption of an integrated program that will allow FTA and the Ministry to cooperate with other authorities to detect tax violations and take the required measures against violators, as well as to educate consumers about their rights.

The framework includes joint awareness campaigns on taxable and exempt products, as well as requirements for invoices issued by shops and outlets offering taxable services. Furthermore, a cooperation agreement between the FTA and economic departments was signed during the meeting to monitor markets and allow inspectors in these departments to verify the authenticity of the Tax Registration Numbers (TRN) printed on invoices, and coordinate regarding violations to take the necessary actions.

Plans to organise training programmes for inspectors in the economic departments were discussed during the meeting to familiarise inspectors with tax procedures and laws and improve the efficiency and effectiveness of their procedures to prevent violations.

His Excellency Eng. Mohammed Ahmed bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy, said: "The Ministry is here to ensure all business sectors can play their part in contributing to national economic growth. This meeting is part of the Ministry's efforts to safeguard the rights of consumers and protect them from profiteering, as well as preventing businesses from using the introduction of VAT to make unjustified price increases. Therefore, and in partnership with the Federal Tax Authority and other stakeholders, the Ministry supports efforts made by all parties to protect consumers' rights in accordance with UAE's strategic vision".

His Excellency Khalid Al Bustani, Director General of the FTA, said: "The efforts made by the Ministry of Economy towards protecting consumers are a crucial step in establishing systematic and accurate supervision of the market, as well as ensuring the implementation of the tax system according to the highest global standards, helping the UAE achieve sustainable development and boosting the performance of key sectors for the good of the entire society".

The FTA has linked its systems with Customs systems at all entry ports in order to collect taxes from importers, noting that the country is witnessing a high activity in imports movement and goods entry.

The FTA emphasized that consumers should check that invoices issued by UAE businesses include:

• "Tax Invoice" displayed
• Tax Registration Number
• Price includes VAT
• The amount of tax charged

The Federal Tax Authority (FTA) calls on citizens and residents to be wary of uninformed and unreliable sources of information who are circulating misleading information around the introduction of VAT in the country.

The FTA emphasizes on the importance of referencing and checking accurate sources of information, such as the statements issued by the Ministry of Finance and the Federal Tax Authority; through the FTA's official website: www.tax.gov.ae and through the official social media account handle, @uaetax..

The FTA's official website is continuously updated with comprehensive, detailed and accurate information and answers to tax related questions and inquiries in the UAE.