minesouq.com is aware of the policies and regulations of the Federal Tax Authority (FTA) and the laws regarding the collection of the VAT.
Kindly be notified that all our invoices and receipts effective January 1st, 2018 will now include VAT 5% on all goods sold on mineshop.com.
FOR BUSINESS CUSTOMERS: If you are a business customer of minesouq.com, please do take all of the necessary steps to register for VAT.
In case if your business is already VAT registered. Please update us your details on firstname.lastname@example.org.
1. What is VAT?
– A Value Added Tax (VAT) is an indirect tax introduced by the government.
2. When was the VAT implemented?
– The VAT was introduced on the 1st January 2018, at a standard rate of 5% in the UAE.
3. Will VAT cover all products and services?
– The VAT is applicable to both individuals and businesses and is imposed on most goods and services that are bought and sold.
4. How will VAT be incorporated into min9shop.com prices?
– VAT will apply to everything sold on minesouq.com.
5. How is VAT calculated?
– minesouq.com prices will include the tax when VAT is introduced.
– (Example) The invoice will indicate the actual price of the product AED 50, with the remaining AED 2.50 as the 5% VAT charged on the product.
– Prices of all the products being sold in minesouq.com are VAT inclusive.