FTA announced the acceptance of 30,920 tax refund applications

According to Amac News: In the announcement of the Federal Tax Administration, it is stated that this figure, compared to the end of the first half of 2023, the total number of applications approved by this administration has reached 23,340 cases with a total value of 1.54 billion dirhams.
This represents a 32.45 percent increase in the number of approved applications and a 65.07 percent increase in the value of refunds over a 12-month period, according to Federal Tax Administration.
The department explained that in the year between the end of June 2023 and the end of June 2024, 7,580 new applications were approved, allowing citizens to reclaim more than 1 billion dirhams in taxes they paid for the construction of new homes. In the first six months of this year, 3,590 new applications were approved and 336.09 million dirhams were refunded.
Khaled Ali Albustani, Director General of FTA, said that the Federal Tax Administration launched its smart housing application this year and has provided more facilities for UAE citizens.
This application implements the request for reimbursement of value added tax for the construction of new houses with 100% digital and paperless methods.
Statistics from the Federal Tax Administration show that since the service was first offered to Emirati citizens, the number and total value of approved applications have increased significantly.
The number of approved applications increased from 270 applications worth 9.11 million dirhams in 2018 to 1900 applications worth 121.46 million dirhams in 2019.
This number increased to 3,750 applications worth AED 301.35 million in 2020, representing a significant increase of 97.16% in the number of approved applications and a 148.1% increase in VAT refund amounts.
This upward trend continued, with the approval of 5,990 applications worth AED 467.52 million in 2021, showing an annual growth of 59.62% in the number of approved applications and 55.14% in VAT refund amounts.
In 2022, the number of approved applications increased to 7,170 applications with a value of 583.38 million dirhams, which represents a growth of 19.61% in the number of approved applications and 24.78% in the amount of VAT refunds.
Figures for 2023 show continued growth, with a total of 8,250 applications approved worth AED 720.12 million, representing an annual growth of 15.06% in approved applications and 23.44% in VAT refund amounts.