UAE approves VAT Refund for tourists
Dubai: Tourists visiting the UAE volition live on able to claim a refund on the 5 per cent value added revenue enhancement (VAT) they pay whilst visiting the country, the UAE cabinet announced on Wednesday.
The organization is fix to become alive inwards the quaternary quarter of 2018 together with volition utilize to purchases made on goods at “participating retailers.” The cabinet said that the deed was intended to back upward the increment of tourism.
According to a tilt released yesteryear the cabinet, the refund machinery volition live on overseen yesteryear an international theater that specialises inwards revenue enhancement recovery services, linking retail outlets together with designated revenue enhancement refund points.
Non-resident tourists may refund VAT on purchases made at participating retailers, provided that such goods are non exempt from the revenue enhancement system, through designated refund outlets.
The position out of passengers through the UAE's airports reached 123 i G 1000 passengers inwards 2017, together with the full contribution of the tourism sector to the country's gross domestic product reached 11.3 per cent inwards 2017, equivalent to Dh154.1 billion.