The daily maximum limit for cash refunds of value-added tax (VAT) in UAE has been set at Dh7,000, it was announced on Sunday.
Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the Federal Tax Authority (FTA), issued FTA Decision No. (1) of 2019, setting a daily maximum of Dh7,000 for VAT cash refunds for tourists applying through the Tax Refunds for Tourists Scheme.
In a statement, the FTA asserted that the Tax Refunds for Tourists Scheme, which entered into effect in November 2018, is characterised by its efficiency, seamless procedures, speed, and accuracy in processing applications.
Credits: Khaleej Times