Will a person be put behind bars if he/she does not pay VAT?
Will a person be put behind bars if he/she does not pay VAT?
Nandana Nithiyanandan
If there is deliberate effort of non payment of vat, the tax liability can go upto 5 times of vat not paid ,or imprisonment or both.
Josna Thomas
No, I don't think so. Missing a tax payment could result in fines. It is preferable to speak with a tax specialist.
Bryce Dsouza
According to the Federal Tax Authority (FTA) in UAE, failure to pay VAT on time will result in a fine of AED 20,000 ($5,445) for the first offense. If the same offense is repeated within 24 months, the fine will be doubled to AED 40,000 ($10,890). In addition to this, there may be other penalties such as imprisonment or seizure of goods.
Alexandra
If the person does not get registered for VAT, they
will get punished or fined under the VAT act in UAE.
Sam Alex
I don't think so, You may have to pay penalties for not paying taxes. its better to consult a tax consultant.