Professionals, who earn more than a specific amount, come under the income tax structure. Business houses, which generate significant revenues, must pay VAT to the UAE government. Earlier, the professionals and business owners had to go to the tax offices and fill in the necessary documents to pay their taxes.

The individuals, who lack the time, can appoint the services of tax filing organizations to complete the procedures. However, things have changed drastically over the past decade. It has been possible due to the implementation of e-governance. The UAE authority has launched official websites for different departments.

Interested individuals can log in on the official portal of the UAE Tax Department. The website can highlight essential tax-related details. The site also sheds light on the legal actions that the government can take against the tax evaders

Online Tax Payment Option using GIBAN

Apart from pertinent information, business owners in the UAE can make VAT payments through the official portal. During the initial years, the UAE government accepted online VAT payment with credit cards. The authority then launched the e-Dirham facility. The online payment modes make things simple for both Value Added Taxpayers and the government. It is a faster and secure payment mode.

The success of the existing virtual payment techniques encouraged the UAE government to introduce the GIBAN facility. It stands for Generated International Bank Account Number. Every person who falls under the VAT system will get a separate GIBAN number. An individual can pay VAT by transferring funds from the bank account through GIBAN.

Applicability of GIBAN

As per the official announcement, made by the UAE officials, individuals who fall under the Excise tax and VAT systems will be able to use GIBAN. Apart from this, people will also be able to pay their penalties through this online tax payment system. Only those individuals, who possess Tax Registration Number, will be able to apply and obtain the GIBAN credentials.

Two Payment Modes of GIBAN 

As per the GIBAN guidelines, a person can pay his/her VAT via two modes:

  • Online Banking
  • Through the respective branch

Paying Vat through the Branch

The interested taxpayer must click on the link that will give him access to the official e-portal of FTA. The main page highlights separate links for paying Excise Tax and VAT through GIBAN. The person must select an option as per his requirements. Then the taxpayer must get to the nearest bank, where he has an account.

The candidate can ask the bank executive to log in on the FTA online service portal. Then he can click on the tab that is marked as “My Payments.” After this, the person can activate the VAT sum transfer from his account, through GIBAN.

Paying VAT via Online Banking

If one desires to eliminate hassles, he can opt for the online VAT payment through net banking. For this, the candidate needs to access the official FTA portal with the GIBAN credentials. Then he must click on the VAT option, highlight on the homepage. After this, the individual must choose the ‘Online Banking’ option.

The person needs to type in the bank account number and the GIBAN credentials to activate the VAT payment process. After this, the applicant must click on the option that is marked as ‘Fund Transfer/Domestic Transfer.’

The taxpayer must type in the sum that needs to be transferred from the bank account. The fund transfer will commence after the site has verified the GIBAN code. The site will highlight a message that suggests that the funds have been transferred successfully. It takes 24 hours for the department to update the details.

GCC Filings VAT Filling Companies

Small and medium business owners must pay attention to multiple aspects. They may lack the time and skills to make VAT payments via the portal. If you face similar situations, then consult with the experts of GCC Filings. It is one of the reputed tax filing organizations in this region. These experts can file tax return in UAE documents on the client’s behalf.

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