VAT News - Kinetik Lubricants

VAT News

Dear Valued Customer,

As per Federal Decree – Law no. (8) of 2017 announced by the Government of UAE, Value Added Tax (VAT) will be chargeable by the seller of Goods and services at 5 %, unless these are exempted or are zero rated. This amount charged will be paid to the Government treasury as per the rules framed under the Decree. Accordingly, despite the price validity of quotes and/or full or partial LPOs pending for delivery to you, we will charge you the VAT @ 5% of the value of the goods and services rendering after 31st December 201, and the same will be payable by you along with the value of invoice.

Export of goods and services outside the GCC and international transportation are zero rated. They must be reported in tax returns, but no VAT will apply.

We have got ourselves registered with VAT Authorities. Our TRN is 100035918000003. We request you to share your VAT details with Kinetik Lubricant. We are required to issue VAT compliant invoices for our services and to ensure that invoices include your correct details, and most importantly, your correct Tax Registration Number (TRN) & address, we have started the process of collecting VAT information with a VAT information collection form. Please send your Certificate of Registration for Value Added Tax in the United Arab Emirates along with your renewed trade license no later than December 25, 2017 to  info@kinetiklubricants.com.

Should you require clarification for any information, feel free to contact us.

We thank you for your business and we look forward to your continued support.

To see the full certificate, click here.

Leave a comment