Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the Federal Tax Authority (FTA) has announced today the daily maximum limit for cash refunds of Value-Added Tax in UAE. The amount has been set as UAE Dirham 7,000.
The Federal Tax Authority has announced that for tourists the VAT cash refunds will be 7,000 Dirhams. The Tax Refunds for Tourists Scheme which was come into effect from November 2018, was a success as it was characterized by its efficiency, seamless procedures, speed, and accuracy in processing applications.
The FTA in a statement has said that the new decision is in line with UAE’s overall strategy to reduce reliance on cash in financial transactions and benefit from the country’s advanced digital and technological infrastructure.
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