logo
  • Emirates

    Emirates

    Aster employees thanked for aid effort
    • 2/16/2019 9:26:13 PM
    • 12

    Aster employees thanked for aid effort

    Making maths fun, easy
    • 2/16/2019 9:04:38 PM
    • 11

    Making maths fun, easy

    Dubai model police station to be set up in Kerala
    • 2/16/2019 10:39:35 PM
    • 11

    Dubai model police station to be set up in Kerala

    Rare Rembrandt acquisition on display at Louvre
    • 2/17/2019 3:02:20 PM
    • 10

    Rare Rembrandt acquisition on display at Louvre

  • World

    World

    Indian actress, husband cancel Pakistan visit after Kashmir attack
    • 2/16/2019 8:07:35 AM
    • 3

    Indian actress, husband cancel Pakistan visit after Kashmir attack

    Customs World develops RIISE, first of its kind customs platform
    • 2/16/2019 11:59:03 AM
    • 2

    Customs World develops RIISE, first of its kind customs platform

    Trump declares emergency to build border wall
    • 2/15/2019 8:22:20 PM
    • 1

    Trump declares emergency to build border wall

    Dog named Donald Trump shot to 'protect livestock'
    • 2/16/2019 10:09:46 AM
    • 1

    Dog named Donald Trump shot to 'protect livestock'

  • Business

    Business

    UAE, Saudi companies sign landmark manufacturing deal
    • 2/16/2019 8:31:39 PM
    • 10

    UAE, Saudi companies sign landmark manufacturing deal

    UAE's Emirates, Etihad, flydubai snap up 54% of Boeing aircraft deliveries in Middle East in 2018
    • 2/17/2019 2:05:45 PM
    • 8

    UAE's Emirates, Etihad, flydubai snap up 54% of Boeing aircraft deliveries in Middle East in 2018

    Idex 2019 to kick off as defence spending goes up
    • 2/16/2019 6:49:38 PM
    • 7

    Idex 2019 to kick off as defence spending goes up

    Idex 2019 opens in Abu Dhabi
    • 2/17/2019 12:06:22 PM
    • 5

    Idex 2019 opens in Abu Dhabi

  • Technology

    Technology

    Making insurance accessible to the lowest income group
    • 2/15/2019 6:10:52 PM
    • 23

    Making insurance accessible to the lowest income group

    UAE ready for fast lane with 5G in 2019
    • 2/16/2019 6:20:50 PM
    • 5

    UAE ready for fast lane with 5G in 2019

    Future of mobile already here in UAE
    • 2/16/2019 8:57:24 PM
    • 3

    Future of mobile already here in UAE

    REVIEW: iLife Zed Air Ultra
    • 2/17/2019 3:43:03 AM
    • 3

    REVIEW: iLife Zed Air Ultra

  • Sport

    Sport

    UAE athletes finish second in IWAS World Games
    • 2/17/2019 2:58:45 PM
    • 5

    UAE athletes finish second in IWAS World Games

    Newport relishing chance to take on Pep's City stars
    • 2/15/2019 9:59:29 PM
    • 3

    Newport relishing chance to take on Pep's City stars

    Bayern fight back twice in Liverpool tune-up win
    • 2/16/2019 10:40:51 AM
    • 3

    Bayern fight back twice in Liverpool tune-up win

    Bayern cut Dortmund gap to two points
    • 2/16/2019 6:04:32 PM
    • 3

    Bayern cut Dortmund gap to two points

  • Entertainment

    Entertainment

    'Roma' actor finally gets visa to attend Oscars
    • 2/16/2019 11:20:03 AM
    • 25

    'Roma' actor finally gets visa to attend Oscars

    These must-have Christian Louboutin sneakers just landed in Dubai – Emirates Woman
    • 2/17/2019 12:18:30 PM
    • 9

    These must-have Christian Louboutin sneakers just landed in Dubai – Emirates Woman

    Asiavision Awards in Dubai: The winners
    • 2/16/2019 11:26:45 PM
    • 5

    Asiavision Awards in Dubai: The winners

    Beyoncé sported emerging Etsy designer and a Dubai-based label for date night
    • 2/17/2019 10:46:47 AM
    • 5

    Beyoncé sported emerging Etsy designer and a Dubai-based label for date night

  • Lifestyle

    Lifestyle

    London fashion week gets off to colourful start
    • 2/16/2019 11:08:33 AM
    • 16

    London fashion week gets off to colourful start

    The Beauty Beat: 4 facials to try in Dubai
    • 2/16/2019 6:02:13 PM
    • 3

    The Beauty Beat: 4 facials to try in Dubai

    Amazon Prime Video picks top 10 romantic UK cities
    • 2/16/2019 10:13:54 AM
    • 1

    Amazon Prime Video picks top 10 romantic UK cities

    The real story behind the egg that broke the internet
    • 2/16/2019 2:17:07 PM
    • 1

    The real story behind the egg that broke the internet

  • Video

    Video

    देश मांगे बदला : पुलवामा के बदले पाकिस्तान को चीर दो ! देखिए बड़ी बहस | ABP News Hindi
    • 2/17/2019 9:52:55 AM
    • 31

    देश मांगे बदला : पुलवामा के बदले पाकिस्तान को चीर दो ! देखिए बड़ी बहस | ABP News Hindi

    HCN News | मोदी ने दे डाली पाकिस्तान को धमकी, औकात में रहो, दो दिन में लेंगे बदला | PM Modi Speech
    • 2/16/2019 9:42:21 PM
    • 18

    HCN News | मोदी ने दे डाली पाकिस्तान को धमकी, औकात में रहो, दो दिन में लेंगे बदला | PM Modi Speech

    #PulwamaAttack : जवानों की शहादत का बदला कब ?
    • 2/16/2019 8:34:54 AM
    • 16

    #PulwamaAttack : जवानों की शहादत का बदला कब ?

    मनोज फौजी का करारा जवाब पुलवामा कश्मीर मे आतंकी हमले मे शहीद हुए 45 जवानो पर
    • 2/16/2019 8:35:12 AM
    • 10

    मनोज फौजी का करारा जवाब पुलवामा कश्मीर मे आतंकी हमले मे शहीद हुए 45 जवानो पर

Business

http://www.24emirates.xyz/business/unlimited-vat-refunds-for-tourists/92281-news
Unlimited VAT refunds for tourists
  • 11/14/2018 7:58:02 PM
  • 98

Unlimited VAT refunds for tourists

Tourists visiting the UAE have a reason for joy as the government has set no minimum limit for tourists' VAT refund, which will come into effect from Sunday, November 18.

Gary Byrne, director of new markets and group strategic partnership at Planet, said the daily maximum VAT refund for tourists has been capped at Dh10,000 in cash. But if the refund claim exceeds that amount, then the funds will be transferred electronically to the tourist.

"If it is a cash refund, then the limit is Dh10,000 and if it is unlimited, then the tourist will be refunded by transferring the amount electronically to his/her account, debit or credit cards," Byrne told Khaleej Times on the sidelines of a Press conference in Dubai on Wednesday.

Planet will manage the entire process for tourist VAT refunds on behalf of the UAE's Federal Tax Authority (FTA).

Byrne revealed that the number of companies registering for the tourist VAT refund scheme are expected to more than double from currently 4,500-plus to 6,000 by the end of 2018 and 10,000 by early next year.

The registered companies come from all sectors, mainly electronics, gold traders, general traders, souks and others, he added.

"Most of the malls and retail groups have been engaged with us and are ready for VAT refund. We are engaging on a multi-level to have everyone on board. Yes, 100 per cent of major malls and retail groups are ready," he said.

Byrne expects most of the VAT refund from tourists will be from purchases of gold jewellery, electronics and luxury goods.

The total value of tax inclusive purchases from the retailer must amount to a minimum of Dh250 to be eligible for a refund. Tourists will not receive the full 5 per cent VAT because the refund is limited to 85 per cent of the VAT amount paid to the retailer, less a one-off administrative fee of Dh4.80 per tax-free form.

Khalid Ali Al Bustani, director-general of the FTA, said retailers must pass credit check and continuously settle tax payments and submit VAT returns to be eligible for the refunds.

"If they'll stop paying taxes and tax returns in future, the FTA can terminate them from the scheme... and if tourists are leaving after 90 days, they won't be getting a refund," he said.

Rob Dalla Costa, VAT director at KPMG, said the refunds are likely to have a positive impact on the psychology of tourists looking to shop in the UAE.

"Refunds will cover a broad range of goods sought by tourists, and are in line with practices in other countries... to date, thousands of retailers have registered to take advantage of the scheme. This is yet another important marketing initiative retailers can use to boost sales and ensure that the UAE remains an attractive shopping destination," Costa said.

Byrne said this scheme will certainly play a key role in boosting inbound tourism to Dubai and the UAE.

"It is a very positive move. We have witnessed it in a number of countries that we operate in that the tourism and inbound tourism sector is very welcoming of such schemes. The government has had the foresight to adopt such scheme and we see it as very positive for Dubai and UAE tourism industry," he said.

- [email protected]


ERROR: Macro /ads/dfp-ad-article-new is missing!
  • Unlimited VAT refunds for tourists
  • Unlimited VAT refunds for tourists
  • Unlimited VAT refunds for tourists

Related News

UAE gold jewellery prices soar to highest level in 10 months as Fed Reserve set to release minutes
  • 2/20/2019 12:20:48 PM

UAE gold jewellery prices soar to highest level in 10 months as Fed Reserve set to release minutes

Dubai's DP World acquires UK's P&O Ferries for $421 million
  • 2/20/2019 10:46:31 AM

Dubai's DP World acquires UK's P&O Ferries for $421 million

Ericsson case: Anil Ambani asked to pay Rs453 cr or face 3-month jail
  • 2/20/2019 9:54:42 AM

Ericsson case: Anil Ambani asked to pay Rs453 cr or face 3-month jail

UAE's Majid Al Futtaim announces new wholesale division of Carrefour
  • 2/20/2019 1:00:35 AM

UAE's Majid Al Futtaim announces new wholesale division of Carrefour

28 firms secure Dh4.8 billion defence deals on third day of Idex in Abu Dhabi
  • 2/20/2019 1:00:35 AM

28 firms secure Dh4.8 billion defence deals on third day of Idex in Abu Dhabi

Emirates flies to No.2 on brand intimacy list
  • 2/17/2019 8:47:09 PM
  • 13

Emirates flies to No.2 on brand intimacy list

Tawazun invests 110m euros to take a stake in Russia's Aurus
  • 2/18/2019 7:56:01 PM
  • 9

Tawazun invests 110m euros to take a stake in Russia's Aurus

Dubai gets first-of-its-kind coffee hub to serve buyers, producers; boost new trade flows to UAE
  • 2/18/2019 4:16:00 PM
  • 8

Dubai gets first-of-its-kind coffee hub to serve buyers, producers; boost new trade flows to UAE

Etihad Rail, Abu Dhabi Ports sign agreement
  • 2/19/2019 1:29:21 PM
  • 6

Etihad Rail, Abu Dhabi Ports sign agreement

US looking to reduce costs of future military sales
  • 2/17/2019 8:34:44 PM
  • 5

US looking to reduce costs of future military sales

UAE, Saudi companies sign landmark manufacturing deal
  • 2/16/2019 8:31:39 PM
  • 10

UAE, Saudi companies sign landmark manufacturing deal

UAE's Emirates, Etihad, flydubai snap up 54% of Boeing aircraft deliveries in Middle East in 2018
  • 2/17/2019 2:05:45 PM
  • 8

UAE's Emirates, Etihad, flydubai snap up 54% of Boeing aircraft deliveries in Middle East in 2018

Idex 2019 to kick off as defence spending goes up
  • 2/16/2019 6:49:38 PM
  • 7

Idex 2019 to kick off as defence spending goes up

Latest News

A mystical tragicomedy by Chigozie Obioma
Entertainment
  • 2/20/2019 3:40:21 PM
  • 0

A mystical tragicomedy by Chigozie Obioma

Spotted: Parineeti Chopra, Anushka Sharma, Sara Ali Khan...
Entertainment
  • 2/20/2019 3:37:00 PM
  • 0

Spotted: Parineeti Chopra, Anushka Sharma, Sara Ali Khan...

ENOC Group, Indian Oil Company announce $63b alliance
Business
  • 2/20/2019 3:23:58 PM
  • 0

ENOC Group, Indian Oil Company announce $63b alliance

Bollywood-Cobrapost sting operation: Sood, Leone respond to allegations
Entertainment
  • 2/20/2019 3:17:48 PM
  • 0

Bollywood-Cobrapost sting operation: Sood, Leone respond to allegations

Meghan Markle enjoys dinner with friends in New York
Entertainment
  • 2/20/2019 3:08:06 PM
  • 0

Meghan Markle enjoys dinner with friends in New York

BJD MLA insults kin of CRPF jawan killed in Pulwama, video goes viral
Video
  • 2/20/2019 3:03:59 PM
  • 0

BJD MLA insults kin of CRPF jawan killed in Pulwama, video goes viral

NESN's Andy Brickley Joins The '2019 Brick’s Backyard Rink' Winner In Townsend, MA
Video
  • 2/20/2019 3:03:59 PM
  • 0

NESN's Andy Brickley Joins The '2019 Brick’s Backyard Rink' Winner In Townsend, MA

Sheikh Hamdan hands over Hamdan bin Mohammed Program for Smart Government Flag to Dubai Police
Emirates
  • 2/20/2019 2:59:47 PM
  • 0

Sheikh Hamdan hands over Hamdan bin Mohammed Program for Smart Government Flag to Dubai Police

Why is Shah Rukh Khan silent?
Entertainment
  • 2/20/2019 2:59:46 PM
  • 0

Why is Shah Rukh Khan silent?

DP World acquires leading European transportation and logistics provider
World
  • 2/20/2019 2:47:21 PM
  • 0

DP World acquires leading European transportation and logistics provider

Death penalty to man who raped 3-year-old girl
World
  • 2/20/2019 2:42:04 PM
  • 0

Death penalty to man who raped 3-year-old girl

Taylor claims New Zealand ODI milestone in Bangladesh sweep
Sport
  • 2/20/2019 2:36:04 PM
  • 0

Taylor claims New Zealand ODI milestone in Bangladesh sweep

Woman gets Dh135 million after horrific Uber crash
World
  • 2/20/2019 2:35:20 PM
  • 0

Woman gets Dh135 million after horrific Uber crash

Sheikh Mohammed receives Speaker of Saudi Shura Council
Emirates
  • 2/20/2019 2:26:59 PM
  • 0

Sheikh Mohammed receives Speaker of Saudi Shura Council

Saif bin Zayed visits national, international companies pavilions in IDEX
Emirates
  • 2/20/2019 2:26:58 PM
  • 0

Saif bin Zayed visits national, international companies pavilions in IDEX

Zion Williamson Sends Duke-UNC Tickets Past Super Bowl LIII Prices
Video
  • 2/20/2019 2:26:01 PM
  • 0

Zion Williamson Sends Duke-UNC Tickets Past Super Bowl LIII Prices

Warning: UAE issues caution against silicone breast implants
Emirates
  • 2/20/2019 2:23:07 PM
  • 0

Warning: UAE issues caution against silicone breast implants

ENOC Group, Indian Oil Company partner to broaden global marine offerings
Business
  • 2/20/2019 2:22:53 PM
  • 0

ENOC Group, Indian Oil Company partner to broaden global marine offerings

Sultan Al Qasimi announces fully-funded scholarships for young Arab acting talent
Emirates
  • 2/20/2019 2:22:52 PM
  • 0

Sultan Al Qasimi announces fully-funded scholarships for young Arab acting talent

Pakistan government spokesperson's personal Twitter account suspended
World
  • 2/20/2019 2:01:45 PM
  • 0

Pakistan government spokesperson's personal Twitter account suspended

Follow

Popular

  • Is Indian citizenship bill election stunt? Hasina asks
    Emirates

    Is Indian citizenship bill election stunt? Hasina asks

  • S&P sees stable outlook for GCC economies and the banking sectors
    Business

    S&P sees stable outlook for GCC economies and the banking sectors

  • जम्मू में लगेंगे गोरखा जवान ..पाकिस्तान के छूटे पशीने ..बॉर्डर छोड़ कर भागे पाक के BAT जवान
    Video

    जम्मू में लगेंगे गोरखा जवान ..पाकिस्तान के छूटे पशीने ..बॉर्डर छोड़ कर भागे पाक के BAT जवान

  • Tawazun acquires 30% stake in Al Marakeb Boats
    Business

    Tawazun acquires 30% stake in Al Marakeb Boats

  • Saudi Arabia sells 9.376b riyals sukuk in monthly issue
    Business

    Saudi Arabia sells 9.376b riyals sukuk in monthly issue

  • Grandma in coma after freak accident in Dubai
    Emirates

    Grandma in coma after freak accident in Dubai

  • Girl fighting for life after falling from 10th floor in UAE
    Emirates

    Girl fighting for life after falling from 10th floor in UAE

  • Pulwama avenged in 100 hours: Indian army
    World

    Pulwama avenged in 100 hours: Indian army

  • Despite heartbreak, Jabeur looks at the brighter side
    Sport

    Despite heartbreak, Jabeur looks at the brighter side

  • Kunchacko Boban's simple life in 'Allu Ramendran'
    Entertainment

    Kunchacko Boban's simple life in 'Allu Ramendran'

  • Fashion designer Karl Lagerfeld dead: Chanel
    Lifestyle

    Fashion designer Karl Lagerfeld dead: Chanel

  • Raw Mango founder in Dubai: Keeping it rooted
    Lifestyle

    Raw Mango founder in Dubai: Keeping it rooted

  • Proud that awareness on menstruation has evolved into movement: Akshay Kumar
    Video

    Proud that awareness on menstruation has evolved into movement: Akshay Kumar

  • 24 News Live | Live latest Malayalam News | Twenty Four | HD Live Streaming
    Video

    24 News Live | Live latest Malayalam News | Twenty Four | HD Live Streaming

  • 19 फरवरी - मोदी के अबतक के सबसे बड़े फैसले वीडियो होश उड़ा देगा | Gnews Exclusive - Breaking News
    Video

    19 फरवरी - मोदी के अबतक के सबसे बड़े फैसले वीडियो होश उड़ा देगा | Gnews Exclusive - Breaking News

24emirates.xyz

24emirates.xyz © 2017 Contact Us