The kiosks are operated by Planet, the company enlisted by the Federal Tax Authority, to operate the system for the Tax Refunds for Tourists Scheme. WAM
Self-service kiosks have been set up across all the ports included in the Tax Refunds for Tourists Scheme in order to allow tourists to recover Value Added Tax, VAT, when leaving the UAE.
The kiosks are operated by Planet, the company enlisted by the Federal Tax Authority, FTA, to operate the system for the Tax Refunds for Tourists Scheme.
"The kiosks are significant as tourists can recover VAT without the need to interact with employees," said Khalid Al Bustani, FTA Director-General.
"The kiosks are placed at all exit ports included in the Tax Refund Scheme for Tourists, where tourists can submit the tax invoices on their purchases, along with their passport and credit card, to recover VAT. No limit is placed on the maximum amount that can be recovered if the said amount is transferred to the tourist’s credit card. However, in the event that the applicant requests a cash refund, then the maximum amount is set at Dhs10,000 per day." "The new service reflects our commitment to continuously upgrade our services," he added.
"Our periodic follow-ups have revealed a sustained increase in customer happiness with the Tax Refunds for Tourists Scheme, launched in November 2018 in collaboration with system operator Planet. This is part of the government’s plan to establish a legislative, executive, and technological ecosystem that would galvanise the tourism sector - one of the major contributors to national GDP, whereby the UAE has become a major destination for tourists and visitors, offering safety, hospitality, and world-class services."
The new system consists of integrated mechanisms to connect retail stores registered with the authority and those wishing to register for the Tax Refunds for Tourists Scheme, linking them to the UAE’s ports of entry. This, in turn, allows tourists to apply for tax refunds on their purchases through the system, which operates on the latest technology, if they are eligible to recover VAT as per the terms and criteria specified in Cabinet Decision No. (41) and FTA Decisions No. (1) and (2) of 2018.
The FTA had outlined several conditions for a tourist to be eligible for a tax refund, such as the tourist must be at least 18 years old; must meet the criteria specified in Cabinet Decision No. (52) of 2018 regarding the Executive Regulations of Federal Decree-Law No. (8) of 2017 on VAT, and must exit the UAE along with the purchased items within 90 days.
"Refunding taxes for legally eligible applicants is a direct transaction between the registered business and the FTA, and does not call for any intermediaries."
The Asian defendant, 23, was on duty at a Dubai airport under a tax refund company when he stole Dhs97,703 value added tax (VAT) refunds belonging to departing tourists.
WTS Dhruva Consultants, a boutique tax advisory firm and FTA registered Tax Agent with presence in the UAE, Saudi Arabia and Bahrain, has published another comprehensive guide on ‘Impact of Indirect Taxes on Retail Sector
Hawkamah, The Institute for Corporate Governance and the International Monetary Fund (IMF) convened the sixth high-level Central Bank Governance Forum 2020 in Dubai on Jan.21-23, 2020.
Bombardier has approached France’s Alstom and Japan’s Hitachi to find a merger partner for its rail business as it struggles to contain costs that have eaten into margins.
Pakistan’s federal government has approved the policy amendments for the discovery of oil reserves, which provide a major relief to the investment companies in the petroleum sector.
The United States wants India to buy at least another $5-6 billion worth of American farm goods if New Delhi wants to win reinstatement of a key US trade concession and seal a wider pact, four sources familiar with the talks told Reuters.