Media ININ Economy We Trust
Media In – Abu Dhabi – 22 September
The Federal Tax Authority has invited retail companies, outlets and shops registered for value added tax to apply for registration for the digital refund system for tourists implemented by the Authority in cooperation with Planet, the global operator of the system, which will come into effect as of the fourth quarter of this year. The Authority has identified 4 basic conditions that must be met for the participation of the retailer in the VAT refund system for tourists, first of all to be registered with the Authority and have a tax registration number and the merchant’s sales of goods not excluded from the refund as determined by the Authority and to submit a request to participate in the system according to As determined by the Commission to meet the financial credit requirements specified by the system operator and be committed to submitting tax returns and paying the tax payable regularly. The Federal Tax Authority said in a press release issued today that the participation of the trader in VAT refund system for tourists will be subject to cancellation if he does not fulfill the obligations arising from him either in respect of the obligations stipulated in the tax legislation or the obligations stipulated in the contract between the system operator and the merchant. Khalid Ali Al Bustani, Director General of the Federal Tax Authority, said that the last few days witnessed a good demand for registration in the tax refund system for tourists, noting that the Authority continues in cooperation with the company “Planet” operating system to organize a series of workshops and seminars to identify retail companies and outlets and shops Registered for VAT, with the simplified mechanisms and procedures provided by the Authority for registration of the digital system, which is one of the most modern systems used worldwide to refund tax to tourists eligible to recover the tax paid on their purchases.
