Will foreign tourists be able to reclaim VAT in the UAE?

Gulf News

December 6, 2017

Dubai, Dec 6: Tourists to the UAE will be able to claim back the VAT on purchases they make whilst visiting the country, according to the official executive regulations released by the Federal Tax Authority (FTA) last week.

The regulations do not, however, go into details on how this process would work.

It does state that the refund system would only be eligible to those travelling to the UAE from outside the Gulf Co-operation Council (GCC).

The FTA has suggested that the exact mechanism for claiming back VAT will be agreed upon, and announced, by the UAE’s Cabinet, in the coming months.

According to the document, posted to the FTA’s website, the Cabinet “may issue a decision introducing the Tax Refunds for Tourists Scheme,” which will specify the following: The date on which the scheme comes into effect, the mechanism for tax refunds, and the limitations on claiming tax refunds, among other details.

Many countries which have similar tax regimes also offer VAT refunds to tourists.

In the UK, for example, shoppers who visit the country but live outside the EU and are going back home can get a refund on their VAT at customs as they leave the country.

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Ban on shisha and children's games to continue in Saudi restaurants

Agencies

June 22,2020

Riyadh, Jun 22: The Ministry of Municipal and Rural Affairs (MMRA) in Saudi Arabia has announced the continuation of the ban on providing Shisha (hubble-bubble), and the closure of children's play areas in restaurants as a precautionary measure for protecting the health of citizens and residents from the novel coronavirus COVID-19 infection.

The new stage, in which the Kingdom is beginning to coexist with the virus, focuses on the concept of "social distancing" that has emerged since the start of the coronavirus crisis throughout the world,

It stipulates leaving at least 2 meters between one person and the other in public places to prevent the transmission of infection, in addition to covering the mouth and nose by wearing a facemask.

It also specifies complying with the preventive protocols in workplaces, stores, shops, mosques and tourist attractions, with human gatherings not to exceed 50 people, as a maximum.

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Banks asked to search and seize B R Shetty’s accounts in UAE

News Network

April 26,2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

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when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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20-day ‘total curfew’ to curb coronavirus comes into effect in Kuwait

News Network

May 10,2020

Dubai, May 10: Kuwait will enact a "total curfew" from 4pm (1300 GMT) on Sunday through to May 30 to help to curb the spread of the new coronavirus, the Information Ministry said on Twitter on Friday.

Further details of the curfew will be announced soon, it said.

Kuwait on April 20 expanded a nationwide curfew to 16 hours a day, from 4pm to 8am, and extended a suspension of work in the public sector, including government ministries, until May 31.

On Friday the Gulf state announced 641 new coronavirus cases and three deaths, bringing its total number of confirmed cases to 7,208, with 47 deaths.

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