< id="header-1"p>< id="header-2"strong>The FTA has set daily maximum VAT cash refund limit at Dh7,000.< id="header-3"/strong>< id="header-4"/p>
< id="header-5"p>< id="header-6"strong>Reading time: 1 minute< id="header-7"/strong>< id="header-8"br />
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The FTA Decision No. (1) of 2019 has been issued, which outlines the daily maximum limit for the VAT cash refund at Dh7,000. This limit has been set for tourists applying through the Tax Refunds for Tourists Scheme. Tax Refunds for Tourists Scheme came into effect in November 2018.< id="header-10"/p>
< id="header-11"p>The FTA asserted that efficiency, seamless procedures, speed, and accuracy in processing applications characterize this scheme. It's been stated that this new decision regarding the maximum amount a tourist can reclaim daily in cash aligns with UAE's strategy, which focuses on reducing the reliance on cash in financial transactions. This will enable benefits from advanced technological and digital infrastructure, which are essential for the development of the country's economy.< id="header-12"/p>
< id="header-13"p>This decision also follows the best practices by advanced economies. The FTA is committed to implementing the highest international standards across all its activities and services. This aligns with the UAE's vision to maintain its competitiveness as the economy based on innovation and creativity, making it one of the best countries in the world by 2021.< id="header-14"/p>
< id="header-15"p>Although if you run your business here in the UAE, you can < id="header-16"a href="https://mcledger.co/services/tax-consultancy">< id="header-17"strong>get all VAT related help from us< id="header-18"/strong>< id="header-19"/a>! The main goal of McLedger is to ensure your financial health is in great shape while you focus on what you love most - your business and grow with the best insights in hand from industry experts with the least effort from your end.< id="header-20"/p>
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< id="header-35"p>< id="header-36"strong>< id="header-37"em>The < id="header-38"a href="http://www.khaleejtimes.com/business/vat-in-uae/uae-announces-daily-cash-refund-limit-of-dh7000-1">original article< id="header-39"/a> was published in Khaleej Times on July 8, 2019.< id="header-40"/em>< id="header-41"/strong>< id="header-42"/p>