Following the release of the GIBAN system to make it easier for UAE residents and businesses to pay their VAT dues, the FTA has now started accepting VAT payments through UAE Exchange.
In a recent announcement, UAE Exchange has said that registered businesses in the UAE can now use the Exchange services for making payments of their pending value added tax (VAT).
The service will be provided by all the 150 branches of UAE Exchange located across the Gulf region. Any registered taxpayer with a valid GIBAN account number and a tax registration number (TRN) can use the service for making payments of taxes.
“We are pleased to partner with the Federal Tax Authority and offer businesses in the UAE a stress-free offline payment solution for their VAT obligations. Through our vast network of strategically-located branches, including 18 in Dubai metro stations, customers can settle their payments on any convenient day,” said Abdel Kareem Alkayed, country head for UAE Exchange.
As mentioned above, UAE Exchange is an offline method of payment and is located in multiple places throughout the region. It provides a convenient way of making VAT payments for the general public.