The Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy has urged retailers in Dubai not to manipulate the prices before the implementation of the VAT. Several campaigns will be organized by Dubai economy in the attempt to spread awareness that the traders cannot hike the prices of their products before the implementation of the VAT.
Download The VAT Guidance for Retailers
The initiative was taken by the Dubai economy aimed at protecting the consumer rights and increasing transparency in the retail sector in order to maintain the country’s reputation as a competitive destination for business.
From 1st January 2018, it would be compulsory for retailers to show the VAT applicable in their invoices. Dubai government will charge penalties or fines from those who do not follow the new regulations under VAT. Field inspections will be conducted by the Dubai economy in respect of complaints received from the customers. The Government will take actions against those retailers who have increased prices ahead of the VAT.
According to Mohammed Ali Rashid Lootah, CEO of CCCP, “Dubai Economy is committed to protecting consumers against unscrupulous trade practices. Retailers should comply with their price list and anyone who increase prices without any justification will incur fine.” Lootah also said to retailers not to manipulate the prices of products which fall under VAT exempted or five percent tax category. The market activity is being observed by the CCCP task force to make sure that the retailers do not enhance the prices of their products before the implementation of the VAT.
“We call on consumers to watch out and ensure that there is no price manipulation or non-compliance with the laws. Consumers must ask for service and sale invoices and retain a copy with them. Complaints if any can be raised on the Ahlan Dubai number 600 54 5555, displayed across all retail establishments,” said Lootah.