– A GIBAN is a unique IBAN number that is given to every taxable person.
– A taxable person can make a fund transfer from certain UAE financial institutions using the GIBAN provided by the FTA.
– This payment method can be used for settling any outstanding VAT and Excise Tax amounts payable including tax and penalties.
– This option should not be used for other payments such as Miscellaneous Payments.
for more details please click HERE.
Bildquelle: Makrodepecher / pixelio.de
I am delighted to invite you to the next in our series of Global ITX webcasts – VAT in the GCC, one month after implementation.
Date: February 13, 2018
Time: 3:00pm – 3:30 CET (9 Eastern)
This webcast will update you on the latest VAT developments, since go live on 1 January 2018,Read More »
With VAT being implemented in the UAE in less than 5 weeks, on the 1st January 2018, PwC is pleased to invite you to this webcast where we will provide you with an overview of the UAE VAT Regulations and highlight the key points and possible gaps between these Regulations and the businesses’ general expectation. Read More »
Khaled Al Bustani, director general of the Federal Tax Authority, says VAT will start as planned on Jan 1 2018
The UAE is fully committed to introducing VAT on January 1 despite calls for it to be put back by a senior banker, it was announced on Wednesday.Read More »
This morning the long awaited UAE Executive Regulations of the Federal Decree-Law No (8) of 2017 on Value Added Tax have been announced.
Please click HERE to read the full announcement.Read More »
The UAE has released the VAT law on last Sunday. Please see the ministry website for more Details.
If you have any questions, please do not hesitate to contact Nassim Tanouti on +971 566 816 561 or nassim.tanouti@pwc.com.
Bildquelle: Tim Reckmann / pixelio.de
On 31 July 2017, the President of the United Arab Emirates – His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued the new Tax Procedures Law (Federal Law No. 7 of 2017) (“TPL”). The TPL sets out the foundations for the impending UAE tax regime and aims to regulate taxpayer rights and obligations, administration and collection of taxes, and defines the role of the Federal Tax Authority (FTA). The TPL will come into force 30 days from the date of its publication.Read More »
The UAE Minister of State for Financial Affairs, His Excellency Obaid Humaid Al Tayer, has stated that the UAE will implement VAT at the rate of 5% on 1 January 2018.
VAT is expected to be introduced at a rate of 5% with some limited exceptions including basic food items, healthcare and education. Read More »
UAE government has made some progress in the process of introducing VAT in the country by 2018.
According to a recent Statement by the UAE Ministry of Finance officials, the registration thresholds under consideration are as follows:
PwC Switzerland ITX
Michaela Merz 