Rana Faqihi, the assistant undersecretary for Public Revenues Development, has signed a contract with international payment specialists Planet Payment to begin work on the VAT refund scheme for tourists, said a report.

Planet Payment has been chosen to oversee Bahrain’s VAT tourist refund scheme based on their knowledge and expertise in the field of international payment solutions, said a report in BNA.

Planet has been operating for 30 years in 58 different countries regionally and worldwide, and currently operate the UAE’s VAT tourist refund scheme, it said.

The new refund system will be established and ready during this year, Faqihi noted.

Upon completion of the payment infrastructure, tourists visiting Bahrain will be able to claim refunds on a percentage of VAT paid on purchases during their visit to the kingdom. Reimbursements will be made through a fully integrated digital system that connects registered companies in the scheme to the points of exit at Bahrain International Airport, the report said.

Copyright 2019 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.