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Sunday, 30 October 2016

Finance Ministry working out VAT rebate system for tourists

The Tax Authority is setting up a rebate system for tourists who have purchased goods under the value-added tax (VAT), Al Borsa reports. Tourists can be eligible for a rebate if they hold a receipt for an item they purchased no longer than three months prior to requesting the rebate. How much tourists can expect to get back will be determined in the VAT’s executive regulations. Speaking of which, ministry sources stating that the plan is being worked on seems to conflict with statements by Deputy Finance Minister Amr El Monayer and more recently those by Tax Authority chief Abdel Moneim Mattar that these were drafted and will be issued by Finance Minister Amr El Garhy in early November.

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