Each and every taxable business owners and entrepreneurs are bound to file the VAT on a quarterly or monthly basis. The entire tax payable to Government depends on a fact whether the input tax credits are enough to counterbalance the output tax. And as per the Federal Tax Authority, if your output tax overflows the recoverable input tax, then you will have to pay a difference to FTA.
You can pay VAT using any of the following methods:
- eDebit
- e-Dirham card or credit card
- International bank transfer
- Local bank transfer
E-Debit
If you do not have much idea regarding the payment process when you are in UAE, then all you need is to choose one of the right ways so that you can easily make the payment through E-debit. One of the best parts about this E-debit is that this is absolutely safe and reliable. Apart from that, you will simply get ample payment options, as well. You have the option of using your corporate internet baking credentials to send the transfer. The whole transaction fee is the eDebit payment, and it is charged by e-Dirham.
E-Dirham Card or Credit Card
- When you make VAT payments using your e-Dirham card, you will experience a transaction fee of AED 3. To make the e-Dirham or credit card payments, you will have to follow a few steps.
- First, you will have to go to My Payments on the navigation tab.
- Then, you will have to enter the amount to be paid.
- You will be taken to the Payment Information screen, which will display the amount you entered. Click Pay Now to proceed.
- In the e-Dirham gateway page, you will have to select whether to pay with an e-Dirham card or a credit card. You will be automatically redirected to the FTA page once the payment has processed successfully.
International Bank Transfer
If your bank is actually outside the UAE and a member of SWIFT, then you have the option of visiting the bank to make the international bank transfer.
- First, you will have to log in to the e-services portal to find your GIBAN numbers for VAT and excise tax, respectively.
- Then, you will require offering the following details to the teller to make the bank transfer.
Local Bank Transfer
Whenever you are going to make a bank transfer from the local bank, then you need the GIBAN, and this is an exclusive IBAN number given to each and every taxable person by FTA. This specific option is accessible for settling any of the outstanding tax liabilities, penalties and excise tax-related payments, but is not available for miscellaneous payments.
To make the payments using GIBAN through your online banking portal, you will have to follow a few steps:
- Log in to E-service and find GIBAN on the dashboard
- Then, you will have to add FTA details
- After that, just head to the fund transfer or the domestic transfer section in the online banking portal
- Enter the tax amount and complete the entire procedure