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For foreign tourists, prices for goods in the UAE will be lower

05.08.2018 17:01 | views: 689

In the United Arab Emirates until the end of 2018 will launch a taxfree system. This is written by The National.

The Cabinet of Ministers of the UAE approved a plan to create in the country a system of VAT refunds for goods for foreign tourists. Simply put, the taxfree service will soon appear in the United Arab Emirates. This means that tourists when leaving the country will be able to return part of the money spent on purchases during the trip.

According to the statement of the state news agency UAE, the tax refund system is designed to support and develop the tourism sector. It will be implemented in the fourth quarter of 2018. Non-residents of the country, that is, foreigners, will be able to receive a refund of VAT at special points of return for purchases made at points of sale of participants in the system, the statement said. At the moment it remains unknown where the return points will be posted. Usually they are located in the "clean" zones of airports after passport control.

Tax free system operates today in 130 countries of the world. The minimum amount of VAT from the purchase can be obtained for tourists in Liechtenstein (7.6%), the maximum in Hungary (27%). In Italy, they return up to 22% of the value of the goods, in Finland to 16%, and in Germany to 14.5%. In Russia, the system of VAT refund for foreign citizens has earned since April 10, 2018. However, while it operates only in stores in Moscow, St. Petersburg, Sochi and the Moscow region of Krasnogorsk.

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