The Federal Tax Authority (FTA) has announced that its digital VAT refund systems, including the Emirati Citizens Tax Refund System and the Tourists Tax Refund System, have achieved remarkable success in 2024.
Publish dateMonday 27 January 2025 - 11:11
According to Amac News: The FTA attributed this success to the continuous development of digital programs carried out by the agency throughout the calendar year.
The FTA also said that the total number of approved applications by Emirati citizens who received tax refunds for expenses incurred in the construction of their new residences reached 34,900 applications, worth AED 2.9 billion.
This compares to the total number of approved applications by the end of 2023, which was just over 27,000 applications and valued at over AED 2.2 billion.
This represents a 27.52% year-on-year increase in the number of approved applications and a 32% increase in the monetary value of refunds.
According to the statistics, the number of approved applications in 2024 for Emirati citizens’ tax refunds related to the construction of new residences reached 7,520 applications with a value of AED 704.38 million.
The number of approved applications for tax refunds on the construction of new residences owned by Emirati citizens has also increased from 270 applications worth AED 9.11 million in 2018, to 1,900 applications in 2019 worth AED 121.46 million, then to 3,750 applications worth AED 301.35 million in 2020, and 5,990 applications worth AED 467.52 million in 2021.
In 2022, 7,170 applications worth AED 583.38 million were received, and 8,250 applications worth AED 720.12 million were processed in 2023.
The Federal Tax Authority explained that the number of retail outlets that have electronically connected to the system for the Digital Tax Refund for Tourists scheme has expanded significantly across the UAE in recent years.
The number of stores registered for tax refund has increased to 17,847 stores by the end of 2024, compared to 16,357 stores by the end of 2023, representing a 9% increase.
In 2024, 1,490 new retailers joined the scheme, bringing the total number of stores that have joined the Digital Tax Refund for Tourists system to 3,008 stores in the last two years, after 1,518 stores joined in 2023.
The FTA also said that the total number of approved applications by Emirati citizens who received tax refunds for expenses incurred in the construction of their new residences reached 34,900 applications, worth AED 2.9 billion.
This compares to the total number of approved applications by the end of 2023, which was just over 27,000 applications and valued at over AED 2.2 billion.
This represents a 27.52% year-on-year increase in the number of approved applications and a 32% increase in the monetary value of refunds.
According to the statistics, the number of approved applications in 2024 for Emirati citizens’ tax refunds related to the construction of new residences reached 7,520 applications with a value of AED 704.38 million.
The number of approved applications for tax refunds on the construction of new residences owned by Emirati citizens has also increased from 270 applications worth AED 9.11 million in 2018, to 1,900 applications in 2019 worth AED 121.46 million, then to 3,750 applications worth AED 301.35 million in 2020, and 5,990 applications worth AED 467.52 million in 2021.
In 2022, 7,170 applications worth AED 583.38 million were received, and 8,250 applications worth AED 720.12 million were processed in 2023.
The Federal Tax Authority explained that the number of retail outlets that have electronically connected to the system for the Digital Tax Refund for Tourists scheme has expanded significantly across the UAE in recent years.
The number of stores registered for tax refund has increased to 17,847 stores by the end of 2024, compared to 16,357 stores by the end of 2023, representing a 9% increase.
In 2024, 1,490 new retailers joined the scheme, bringing the total number of stores that have joined the Digital Tax Refund for Tourists system to 3,008 stores in the last two years, after 1,518 stores joined in 2023.
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Source : news agency wam
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