FTA approves 390 VAT refunds totalling Dh17.5 million

Abu Dhabi: The Federal Tax Authority, FTA, has announced approving 390 VAT refund applications totalling Dh17.5 million, for Emiratis who paid it when building their homes.

Khalid Ali Al Bustani, Director General of FTA, stressed that the FTA’s move comes in implementation of the wise leadership vision, aiming to develop a modern housing system for Emiratis and provide the best standards of living.

Al Bustani highlighted that the VAT-registered businesses have exceeded 300,000 while the number of registrants for excise tax reached 724.

The authority referred to the positive results of the partnership agreements signed with authorities concerned with the tax system, stressing their outstanding contribution to the successful implementation of the tax system by raising tax awareness among the business and consumer sectors, protecting consumers’ rights from being exploited and warning some businesses about the necessary of amending their status to bring about the full and successful completion of VAT.