Bahrain
Kuwait
Oman
Middle East
GDN Online App available on
App Store / Play Store
Gulf Daily News Gulf Daily News
Gulf Daily News Gulf Daily News Gulf Daily News Gulf Daily News Gulf Daily News
Saturday, November 17, 2018 ARCHIVES  |  SEARCH  |  POST ADS  |  ADVERTISE  |  SUBSCRIBE   |  LOGIN   |  CONTACT US

Tourists to get VAT refund starting from Q4 2018

UAE
GDN Online Desk


Abu Dhabi - The UAE Cabinet has adopted a decision to implement the value-added tax refund system for tourists, which will integrate retail outlets with tax refund points.

The new tax refund system will support the growth of the tourism sector in the UAE and maintain its position as a global destination for tourists.

"The system will be implemented beginning the fourth quarter of 2018 in cooperation with an international specialised company in tax recovery services," the Cabinet announced in a statement.

Non-resident tourists may refund VAT on purchases made at participating retailers, provided that such goods are not exempt from the tax system, through designated refund outlets.

The tourism sector contributes directly to the local economy. The number of passengers through the UAE’s airports reached 123 million passengers in 207, and the total contribution of the tourism sector to the country's GDP reached 11.3 percent in 2017, equivalent to AED154.1 billion.

You Might Like