Thursday , June 27 2019

FTA urges retailers to register for tourist VAT refund scheme


The Federal Tax Authority (FTA), has invited retailers, outlets and shops registered for Value Added Tax (VAT), to register in the digital system of the Tax Refund Scheme for tourists, which will come into effect as of the fourth quarter of 2018.
The authority cautioned that a retailer’s membership in the Tax Refund Scheme for tourists would be revoked if they fail to meet their obligations, whether those stated in tax laws or in the contract between the system operator and the retailer.
The authority is implementing the scheme in cooperation with Planet, and has identified four basic conditions for registering, namely: the retailer must be registered with the Authority for VAT and have a tax registration number (TRN); the supplier’s sales of goods must not be excluded from the refund scheme, as determined by the authority; the retailer must submit a request to participate in the Scheme as determined by the FTA; and finally, the retailer must meet the financial credit requirements specified by the system operator and be committed to submitting Tax Returns and paying due taxes regularly.

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