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As a consumer in UAE, you are aware that VAT has been implemented in the country. You have also paid VAT on many purchases since then. However, there have been certain cases which have come to the fore now where suppliers have charged and collected VAT from consumers, though they are not authorised to do the same. As consumers, it is understandable that our knowledge of the intricacies of the VAT Law will be limited. However, you do not need to worry. With this simple checklist, you can ensure that you are receiving a genuine Tax Invoice for your purchase.
This can be a basic checklist for you to ensure that you are paying VAT to genuine suppliers. This, along with the provision for any person to verify the validity of a TRN, gives great power in the hands of consumers to ensure that they are not cheated.
Hence, these 4 things need to be checked by consumers when they receive invoices for their purchase. Note that a TRN (Tax Registration Number) is the identification number given to every registered business under UAE VAT. A business cannot charge VAT without being registered and holding a TRN. Additionally, in case you suspect that the TRN mentioned by the supplier is not true, you can verify its validity. We have explained the process for this in our article ‘How to verify whether a TRN is valid’. With these measures, you can ensure that you pay tax only to the businesses eligible to collect VAT.
Manage VAT Transactions Involving Multiple Currencies with Tally.ERP 9