FTA applies VAT refund of AED2.9 billion for 35,000 UAE Nationals

January 26, 2025 / 8:45 PM

Sharjah 24 – WAM: The Federal Tax Authority (FTA) has confirmed that its digital VAT refund systems, which include VAT refunds for UAE nationals constructing new residences and for tourists, have achieved outstanding results in 2024. These results are part of a continuous digitalisation effort implemented throughout the year.

UAE nationals VAT refunds: 34,900 applications processed

The FTA announced that 34,900 UAE nationals have received VAT refunds for the construction of their new residences, totaling AED 2.9 billion since the program began six years ago. The number of approved applications in 2024 alone reached 7,520, totaling AED 704.38 million. This represents a 27.52% increase in the number of applications and a 32% increase in monetary value compared to the previous year.

Growth of VAT refund system for tourists

The FTA also highlighted the expansion of its VAT refund system for tourists, with 17,847 retail outlets linked to the system by the end of 2024, up 9% from 2023. Additionally, the number of self-service kiosks for tourists increased by 18.3%, with 97 kiosks operational by the end of 2024.

Future plans for digital transformation

Khalid Ali Al Bustani, Director-General of the FTA, emphasized the UAE’s commitment to continuous digital transformation in the tax sector, with plans to launch more projects in 2025 to further streamline processes and enhance customer satisfaction.