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The proposed introduction of Value Added Tax (VAT) in the United Arab Emirates (“UAE”) and Kingdom of Saudi Arabia (“KSA”) from 1st January, 2018.
As you may be aware, the UAE and KSA Governments have each taken concrete steps for the introduction of Value Added Tax (“VAT”) starting on 1st January, 2018.
As a result, Fetchr will be required to register for VAT in those jurisdictions and account for the same on its purchase transactions from 1st January, 2018. Fetchr is currently assessing the impact of the introduction of VAT on its business costs and the price of its supplies from you (if any) after 1st January, 2018.
We wish to emphasize that Fetchr (and its affiliates) will be VAT compliant, and we will support you in any way possible to adhere with the law. Fetchr will need you to issue a valid tax invoice in prescribed formats under the relevant UAE/KSA VAT law to proceed with payments for your services. Should the invoice raised by you not be in the required requested format, Fetchr reserves the right to delay payments to you until we receive a revised, acceptable, and valid tax invoice with no additional penalties, fees, costs, or expenses imposed by you. All costs and expenses related to the issuance, re-issuance, and delivery of valid tax invoices shall be your exclusive responsibility. This notice shall govern the parties and overrule any terms and conditions of our agreement with you.
We request that you provide us with the following details as and when available with by as early as possible and in any event no later than 31st December, 2017 for the purpose of updating our records:
· Legal name of the company(ies) or group in both English and Arabic both (as registered with the TAX authority);
· Address (as registered with the relevant tax authority(ies));
· Tax Registration Number (“TRN”) or VAT Registration Number;
· Registration Certificate; and
· Original Date of Issuance, Date of Most Recent Renewal Date of Issuance, and Expiry of Registration Certificate
Kindly provide us with the aforementioned information upon obtaining the same from the relevant tax authorities as per law along with a copy of the VAT and/or TRN registration certificates for our records.
Please note that you shall be liable to indemnify Fetchr in case of any liability imposed by the relevant tax authorities (or other government instrumentality) as a consequence of a delay in the provision of the TRN and/or VAT registration number (or an incorrect submission of a TRN and/or VAT registration number.)
Other points to be noted:
· Invoices should be addressed to the details provided by Fetchr including formal legal entity name.
· Credit terms and due date should be clearly mentioned on the invoice
· Unless informed, the due date and credit terms will remain as per the contract
· Invoices should be sent to firstname.lastname@example.org for the UAE and email@example.com for KSA. Expect potentially significant delays in the process if sent otherwise.
For your reference, more information about the introduction of VAT in the UAE / KSA can be found on the website www.tax.gov.ae (UAE) and www.vat.gov.sa/en (KSA). Please consult a licensed tax firm for any information required that is specific to your organization.
Click “Submit now” to complete the form with your TRN details: