UAE Cabinet approves VAT refund for tourists
Good news for tourists as they will soon be able to get their VAT amount refunded.
The UAE Cabinet has adopted a decision to implement the refund system from the fourth quarter of 2018.
According to national news agency WAM, non-residents can reclaim the VAT amount on purchases made at participating retailers, provided that such goods are not exempt from the tax system.
The refund scheme will be integrated between retail outlets with tax refund points.
In 2017, the tourism sector contributed 11.3 per cent to the UAE’s GDP, which is equivalent to AED 154.1 billion.