UAE, 18 March, 2024 : The Federal Tax Authority (FTA) reported a 14.41% surge in tourist tax refund transactions in 2023, totaling 4.18 million transactions, with a daily average of 11,460 transactions. Khalid Ali Al Bustani, Director-General of FTA, highlighted the success of the electronic VAT refund system for tourists, with approximately 14 million transactions processed since its launch in November 2018.
The daily average of tax refund transactions has steadily increased over the past four years, reaching 11,460 transactions in 2023. This growth reflects the UAE's tourism recovery and continuous system development efforts by the FTA.
The electronic linkage of retail systems with the VAT refund system has been instrumental in achieving significant milestones. With over 16,480 stores electronically linked to the system by the end of 2023, representing a 60.62% increase from 2020, the system enhances competitiveness and efficiency in the tourism sector.
Aligned with the government's digital strategy, the FTA focuses on innovative and user-friendly services. The self-service VAT refund devices, now totaling 85, automate refund procedures within two minutes at tourist departure points across malls and hotels, facilitated by Planet, the authorized service provider.
Source : www.wam.ae
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