VAT will not diminish the tourism market of Expo 2020

Published on : Monday, January 8, 2018

indexFor Expo 2020, travel experts all around the globe anticipate that it will boost the travel and tourism sector for UAE, as they see no significant effect from the launch of the new value-added tax on the sector, regardless of the fact that no system is there to permit tourists to recoup VAT payments.

 
To quote Mamoun Hmedan, managing director for travel website Wego as informed to Zawya through an email interview last week, “the UAE is geared towards making Expo 2020 a game-changing success.”

 
“To this end, concerted efforts are being made from improving infrastructure to destination marketing investments and even attracting greater foreign investments. These initiatives are sure to position Dubai as the ‘first choice’ for the international leisure and business traveller – before, during and even after the World’s Fair.”

 
Hmedan, whose website aims Middle East, North Africa and Indian customers said that the new value-added tax or the VAT at a standard rate of five percent, launched this month in UAE is not expected to create any negative influence on the travel and tourism sector.
“It is still rather early to form an opinion about the impact of the newly-imposed VAT on any sector. Yet it is heartening to note that international and domestic flights have been exempt from the new VAT charges in the UAE,” Hmedan said.

 
“Also, according to the official executive regulations released by the Federal Tax Authority (in November 2017), tourists to the UAE will be able to reclaim VAT on their purchases when exiting the country. However, the details relating to the implementation of this refund scheme are yet to be announced,” he added

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