- UAE becomes first country globally to offer VAT refunds for tourist online shopping through Federal Tax Authority initiative launched last year
- Service extends beyond traditional in store purchases to online platforms with integrated electronic tracking system monitoring tourist purchases from entry to departure
- Currently partnered with three e commerce platforms with plans to expand to more digital retailers that meet verification requirements
- Initiative part of broader digital transformation strategy that eliminated bureaucracy and achieved 53 percent reduction in required documents and 77 percent reduction in service completion time
- UAE now ranks first globally in Tax Index for low bureaucracy and ease of paying taxes according to Federal Tax Authority Director General Khalid Ali Al Bustani
Source: khaleejtimes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United Arab Emirates"
- UAE E-Invoicing: Transforming Business with Digital Solutions and Compliance Benefits
- UAE Unveils Gradual Implementation Plan for National E-Invoicing System
- Australia-UAE Free Trade Agreement Comes Into Effect
- Ministry of Finance Proposes Legislative Changes to Implement Updated Sugar-Sweetened Beverage Excise Tax Policy
- FTA Clarifies VAT Treatment of Transactions Involving Sports Players
