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FTA: Electronic System to Return VAT to Tourists Entering Final Preparation Stages
The Cabinet Decision to implement a system that returns Value Added Tax (VAT) to tourists will cement the UAE’s status as a premier global tourist destination, asserted the Federal Tax Authority (FTA).
In a press statement issued today, the Authority explained that the Cabinet Decision has set clear standards branded with transparency and accuracy in returning VAT refunds to tourists visiting the UAE.
The Authority revealed that the project is nearing its final preparation stages, where an advanced system will be put in place to corresponds with international best practices. The system relies on an advanced integrated digital system to set up a direct connection with points of sale, as well as with all UAE ports of entry, allowing the global operator to coordinate among retailers registered with the FTA, and enable tourists to submit refund requests for their purchases.
FTA Director General Khalid Ali Al Bustani asserted that the Cabinet Decision to implement a system that returns VAT to tourists is in line with the forward-thinking vision of the UAE’s wise leadership to diversify the national economy and promote all economic sectors to increase their contribution to the Gross Domestic Product (GDP), including the country’s vibrant and promising tourism sector.