The United Arab Emirates has announced new limits on the maximum daily amount available for VAT refunds.
The daily maximum limit on cash value added tax (VAT) reimbursement in the UAE is now 7 thousand dirhams ($ US 1.9 thousand) per recipient. This was announced on Sunday, July 7, 2019.
Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance of the UAE and Chairman of the Federal Tax Administration (FTA), issued a decision that sets a daily limit for tourists.
“The new decision on the maximum daily amount that a tourist can receive in cash is consistent with the UAE’s overall strategy to reduce dependence on cash in financial transactions and take advantage of modern digital and technological infrastructure. These systems are key components of the continuous development of the UAE’s financial and economic sector and contribute to safe movement of cash and financial assets, increasing confidence in financial transactions - both local and international, " FTA CEO Khalid Ali Al Bustani made the decision.
Recall that previously the maximum amount of a lump-sum cash return could not exceed 10 thousand UAE dirhams (US $ 2739). At the same time, when refunding a tax on a credit card, the upper threshold is not set.
Read more about the Tax Free system in the UAE here.
