VAT Update: Additional VAT Payment Mechanism
In a step to facilitate payment of your VAT and Excise Tax, the Federal Tax Authority has introduced the new GIBAN payment method to send payments through bank transfer. This payment option is in addition to the e-Dirham facility or credit cards payment option (subject to 2-3% fees).
Through GIBAN payment system, VAT registered businesses can now make payments from certain UAE financial institutions by bank transfer using their GIBAN number.
This is a great initiative by the FTA to facilitate payments via online bank transfers and payments can be made for all tax payments due since 28th February
How can we help
Rethink provides VAT advisory, optimization, implementation, compliance and training services in the UAE and the GCC. Before you reach your VAT filing due date, contact us for a VAT Health Check and VAT filing assistance.
Our team is here to guide you through VAT law and regulations and ensure full compliance with the law.
Our team of senior qualified tax advisors, finance experts, and tax accountants will ensure timely and cost-effective VAT services for SMEs.
Based on our local and international experience we understand that VAT is a complex tax and will certainly suffer numerous changes in the upcoming years. Rethink VAT services are aimed to suit both basic and complex returns for SMEs and larger enterprises.
Who we are
Re/think is a boutique accounting, audit, advisory, regulatory compliance and tax advisory firm with offices in Dubai and Abu Dhabi (ADGM), focused on providing businesses of varying sizes with timely, proactive, and customized business solutions from start-up and early development to the latest stages of a business lifecycle.
For further information and assistance with VAT, Customs or Excise registration in the UAE or KSA, please contact firstname.lastname@example.org.
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