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UAE Releases Complete Digital VAT-refund Scheme for Tourists

  • Publish date: Thursday، 22 December 2022
UAE Releases Complete Digital VAT-refund Scheme for Tourists

 The Federal Tax Authority (FTA), in partnership with Planet Tax Free, today launched a 100 percent digital VAT-refund scheme for tourists.

The new solution is integrated electronically between retail outlets and the tax refund scheme, ensuring a seamless digital process of issuing, sending, modifying and saving invoices for tourists.

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Tourist VAT Refund transactions increased by 104.15 percent during the current year, he added, as the number of transactions doubled to 2.31 million transactions during the first eight months of this year. In 2021, 1.13 million transactions were registered during the same period.

The total value of Tourist VAT Refunds increased by 113.48 percent from the beginning of January to the end of August 2022 compared to the same period in 2021, which is attributed to the easing of global travel restrictions.

The 100 percent paperless process will save more than 16,800 trees per year and more than 4,000 tonnes of carbon dioxide emissions.

This article was previously published on UAE Moments.To see the original article, click here

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