FTA INTRODUCES ONLINE VAT CALCULATOR
Consumers can check the authenticity of tax invoices and ensure that the merchants and service providers issuing them are registered with the FTA. The Federal Tax Authority (FTA) has launched a Tax Registration Number (TRN) verification service on its website.
The VAT calculator allows consumers and service recipients to instantly calculate the Value Added Tax (VAT) due on their purchases of goods or services. This, in turn, makes it possible for the public to remain aware of their rights and ensures full transparency.
The new services were introduced as a part of the Authority's efforts to protect consumers and prevent any attempts at price manipulation as the UAE tax system goes into effect. These services support and facilitate the Authority's efforts to monitor markets in collaboration with relevant authorities and stakeholders.
The consumers can enter the TRN on their invoice on the TRN verification section in the FTA website. If the number is correct, the website will display the company's name in English and Arabic. If the company is not registered in the tax system, the number entered will not yield results
The VAT Calculator is designed to be easy to use, and will be available in the FTA website. Once accessed, the page displays a box where the price excluding VAT can be entered, upon which the calculator will display the total tax amount and the total price including VAT. Users can alternatively enter the full price (including VAT), where the calculator would display the original pre-tax price, as well as the tax amount.
Facebook
Twitter
Whatsapp
