The tourism sector receives the VAT refund move with open arms

Published on : Thursday, July 12, 2018

indexThe tourism industry and retailers both have responded positively to the new statement that UAE visitors will be in a position to claim back any value added tax or VAT they are charged.

 

The UAE cabinet on Wednesday settled to put in place a system that will permit the visitors to get refunds on the five percent tax they pay on goods, starting from the fourth quarter of this year.

 

When questioned by Gulf News, retail analysts highlighted few uncertainties that the move would be enough to conquer few key structural challenges of the retail sector like high rents and an oversupply of mall space.

 

From the viewpoint of the government, however, permitting tourists to reclaim their VAT brings the UAE in line with international standards.

 

Dubai and Abu Dhabi tourism authorities explained that they welcomed the news and the boost to tourism that it will bring.

 

“The UAE’s leadership has long recognised the importance of tourism to the national economy, and this move to implement a value added tax refund system for tourists will ensure the sector’s competitiveness globally and drive further growth in its GDP contribution,” said Helal Saeed Al Merri, director-general of Dubai Tourism, adding that as retail continued to be a key reason many tourists came to Dubai, he expected “to see significant numbers of tourists taking advantage of their shopping opportunities in Dubai”.

 

Abu Dhabi’s tourism board, for their part, mentioned that the move would additionally fortify its strategy of positioning Abu Dhabi as a visitor-friendly destination.

 

The country’s two largest home-grown hotel groups also expressed support for the decision.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 WTM London 2018
  • 03 imexamerica 2018
  • 07 miltcongress 2018
  • 08 theleisureshow 18
  • 09 cibtm 2018
  • 09 Seatrade Cruise Med 2018
  • 10 ITE-HCMC 2018
  • 13 aite 2018
  • 14 traveltechme 2018
  • 15 TravelDaily TDC 18
  • 16 OTDYKH 2018
  • 17 Hotel Show dubai 18
  • 18 hospitalityqatar 18
  • 18 Hotel Management Asia Summit 2018
  • 18 thincindonesia 2018
  • 19 bricsaconsulting 2018
  • 20 CITE_TTW 2018
  • 20 europecongress 18
  • 20 sahicsouthamerica 2018
  • 21 bitmchina 2018
  • 22 Hotel Management Singapore Summit 18
  • 23 PTM 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com