The currency of Sharjah is the dirham (Dhs), also known as the Arab Emirate Dirham (AED), which is divided into 100 fils. Notes come in denominations of 1,000, 500, 200, 100, 50, 20, 10 and 5, and coins include AED 1, 50 fils and 25 fils. The dirham is pegged to the US dollar, and the exchange rate is fixed at USD $1 = AED 3.67. All major credit cards can be used in Sharjah, and automatic teller machines (ATMs) are found in banks, shopping malls and some hotels. Souks, markets and smaller shops usually only accept cash.
Foreign currency and traveller’s cheques can be exchanged at banks and exchange houses, which are found at Sharjah International Airport and around the city. The latter offer better rates than banks and are generally open from Monday to Sunday, 9AM to 11PM. However, be aware that most exchange houses operate to different timings on Fridays.
Starting on 1 January 2018, all goods and services are subject to a 5% value-added tax (VAT) included in the displayed price.
For a tourist to claim VAT refund on purchases he made in the UAE, he must fulfill certain conditions:
• Goods must be purchased from a retailer who is participating in the 'Tax Refund for Tourists Scheme'
• Goods are not excluded from the Refund Scheme of the Federal Tax Authority
• He must have the explicit intention to leave the UAE in 90 days from the date of supply, along with the purchased supplies
• He must export the purchased goods out of the UAE within three months from the date of supply
• The process of purchase and export of goods must be carried out according to the requirements and procedures determined by Federal Tax Authority.
Where and how can tourists claim VAT refund for their shopping
Federal Tax Authority has allocated spaces where tourists can reclaim taxes through a fully electronic system managed in partnership with a global operator. Tourists will receive their refunds through a special device placed at the departure port - airport, seaport, or border port - by submitting the tax invoices for their purchases from the outlets registered in the Scheme, along with copies of their passport and credit card.
Once these documents are submitted, tourists can either recover the VAT in cash in UAE dirhams, or have it transferred to their credit card.
(More info: https://u.ae/en/information-and-services/finance-and-investment/taxation/tax-refund-for-tourists)