The Federal Tax Authority (FTA) has held an awareness session in Ajman the campaign, which was in collaboration with the chambers of commerce, was intended for the merchants and other representatives from the private sector in all norther emirates.
The FTA revealed that there has been a notable increase in the number of agreements signed with retailers to register them in the scheme, equip them with the necessary technology to implement it, and link them to airports and land and sea ports in the UAE.
The FTA said that dedicated offices would be established in various locations where tourists can recover taxes. It will be clearly outlining the taxes that are eligible to be refunded through the scheme’s digital system – said to be the “most advanced of its kind in the world.”
While many questions remain unanswered for now, it is likely that more information will become available in the near future. If you are concerned or have any questions as to how the proposed changes will affect your business in the UAE, please do not hesitate to contact us.visit: http://www.namaccountants.com/ or contact : +971-558876440