In Push for Digital, UAE Limits VAT Cash Refunds to AED 7000 Daily

Via Expat Media

In an attempt to provide speed and accuracy in processing applications of the VAT refund scheme, the UAE’s Federal Tax Authority has imposed a daily cash limit for VAT refunds per tourist.

Via Arabian Business

When tourists submit their tax invoices on purchases they made at retail outlets registered within the tax scheme, they’ll get an unlimited amount of tax refunds if the purchases were on their credit card. However, cash refunds are now limited to only AED 7000 daily per tourist.

The Director General of the FTA, Khalid Ali Al Bustani, said that the limits help reduce the amount of cash in financial transactions in line with international standards.

There will also be numerous self-service kiosks where tourists can do the process by themselves, which will also reduce the need for cash in the VAT refunds process.

WE SAID THIS: The digital age is here, and the UAE is here for it.

Comments
Loading...
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time