Abu Dhabi – Mubasher: Abu Dhabi’s Department of Economic Development (DED) has shut down some business which have unjustifiably increased prices following the introduction of the value-added tax (VAT), the government authority stated on Tuesday.
The DED reportedly closed 15 facilities in January after 3,520 inspections carried out in Abu Dhabi.
“Tickets were issued against those facilities that collected VAT without being registered in the tax system of the Federal Tax Authority (FAT),” said the acting director of the Commercial Protection Administration Ahmed Tarish Al Qubaisi.
The DED has received 505 complaints concerning increased prices after putting a 5% VAT into effect on 1 January 2018, Al Qubaisi added.
“The inspection campaigns in major outlets are conducted to ensure that these facilities do not raise prices unjustifiably ” top official concluded.
