The government has set no minimum limit for tourists' VAT refund, which will come into effect from Sunday, 18 November. Gary Byrne, Director of new markets and group strategic partnership at Planet, said the daily maximum VAT refund for tourists has been capped at AED10,000 in cash. But if the refund claim exceeds that amount, the funds will be transferred electronically to the tourist. Planet will manage the entire process for tourist VAT refunds on behalf of the UAE's Federal Tax Authority (FTA). Byrne revealed that the number of companies registering for the tourist VAT refund scheme is expected to more than double from currently 4,500+ to 6,000 by the end of 2018 and 10,000 by early next year. The registered companies come from all sectors, mainly electronics, gold traders, general traders, souks and others, he added. "Most of the malls and retail groups have been engaged with us and are ready for VAT refund. We are engaging on a multi-level to have everyone on board. Yes, 100% of major malls and retail groups are ready," he said. Byrne is expecting most of the VAT refund from tourists will be from purchases of gold jewellery, electronics and luxury goods. The total value of tax-inclusive purchases from the retailer must amount to a minimum of AED250 to be eligible for a refund. Tourists will not receive the full 5% VAT because the refund is limited to 85% of the VAT amount paid to the retailer, less a one-off administrative fee of AED4.8 per tax-free form.