PAYING UAE VAT VIA GIBAN

PAYING UAE VAT VIA GIBAN

The methods of paying VAT dues, penalty, interest, etc are explained which is Domestic Transfer within UAE and International Transfer(If the Bank is a member of SWIFT)

GIBAN(Generated International Bank Account Number) is a special international bank account number issued by Federal Tax Authority(FTA) for each tax registrant.

Domestic Transfer within UAE

Method 1: Direct Payment at Banks and Exchanges

Provide the bank or exchange the relevant GIBAN number along with the amount to be paid to FTA with regard to VAT Outstanding, interest, or penalty.

1. There is a chance that the payment will only be reflected after 24 hours, so we recommend you make the payment a day before the due date to avoid a 2% penalty on the non-payment of tax
2. You may also be asked to provide your ID at the bank or exchange to make the transaction, so it is better to keep an ID with you while visiting.
3. There will also be a service charge of AED 15-25 depending on transaction value

Method 2: Electronic Transfer from the Bank Account

Step 1: Log on to your internet banking(e-banking) and then add the ‘Federal Tax Authority’ as a beneficiary using GIBAN

Step 2: Go to Payments/Transfer Fund tab

Step 3: Enter the amount you wish to pay and complete the transaction

1. Once the payment is made, you can visit your FTA portal, and can view the payment transaction under the ‘My Payments’ tab.
2. Making payment via internet banking usually reflects in the FTA portal in real-time
3. Usually, there is no service charge for making this transaction.

References

FTA newsletter:

https://tax.gov.ae/en/press-releases/Paying-Taxes-via-UAEFTS-Using-GIBAN

FTA website

: https://tax.gov.ae