How To Use GIBAN To Make VAT Payment

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The FTA has created a new form of paying tax: GIBAN, to make it easier for VAT-registered individuals to pay their taxes. This is in addition to the e-Dirham and credit card payment options that are already available. Let’s look at what GIBAN is and how to use it to pay VAT.

What exactly is GIBAN?

Every taxable individual under VAT will be assigned a GIBAN (Generated International Bank Account Number), which is a unique IBAN (International Bank Account Number). A taxable person can use the GIBAN to transfer funds from specific UAE financial institutions. Fund transfers between bank accounts will be processed more quickly if you use GIBAN.

What is the procedure for obtaining a GIBAN for a taxable person?

Based on the TRN, each taxable person will be assigned a GIBAN (Tax Registration Number). In the FTA e-Services portal, the GIBAN will be presented in the person’s dashboard.

Which tax obligations can be settled with GIBAN?

GIBAN can be used to pay back unpaid VAT and Excise taxes, as well as penalties.

As a result, the FTA has made it easier for taxpayers to pay their taxes by introducing the new GIBAN payment option. Taxpayers can avoid the 2-3 percent costs charged by credit cards by paying with GIBAN, which ensures timely transmission of funds to the FTA.

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