To encourage the VAT installment by people enrolled beneath VAT, the FTA has presented a modern strategy of paying tax:
GIBAN. This can be in expansion to the existing e-Dirham office and credit card installment alternative. Let us get it what GIBAN is and how to pay VAT utilizing GIBAN.

What is GIBAN?

GIBAN (Produced Worldwide Bank Account Number) may be a interesting IBAN (Universal Bank Account Number) that will be given to each assessable individual beneath VAT Registration. A assessable individual can make a support exchange from certain UAE budgetary educate utilizing the GIBAN. Exchange through GIBAN will guarantee opportune preparing of support exchanges between bank accounts.

Which assess liabilities can be paid utilizing GIBAN?
GIBAN can be utilized for settling exceptional VAT & Extract assess sums as well as punishments.

From when can GIBAN be utilized as a mode of installment?
GIBAN can be utilized as a mode of installment from 28th February, ’18.

How can a assessable individual get a GIBAN?
Each assessable individual will be distributed a GIBAN based on the TRN (Assess Registration Number). The GIBAN will be shown within the person’s dashboard within the FTA VAT e-Services entry.

How can VAT installment be done using GIBAN?
To pay a tax amount due utilizing GIBAN, the taking after steps got to be taken after:

Consequently, the FTA has facilitated installment of charge for taxpayers by giving the new option of installment utilizing GIBAN. Citizens can dodge the 2-3es whereas paying through credit card and decide on installment utilizing GIBAN, which guarantees convenient settlement of the sum to FTA.

You can also Register for VAT Registration on our website:

+9 71 4 393 1773
info@thevatconsultant.com
https://thevatconsultant.com