Chetan Suri

<p><strong>1. Federal Tax Authority has confirmed Business visitors refund:</strong></p> <p>For business visitors, claiming VAT refund is a straightforward process as confirmed by the summary user guide released by FTA. This guide provides all the details on how VAT refunds can be claimed by foreign businesses as per Article 67 of executive regulation.</p> <p><strong>When the foreign businesses are eligible to apply for refund?</strong></p> <ol style="list-style-type:lower-alpha"> <li>Businesses having a residence in GCC States other than the implementing states; or</li> <li>A foreign entity that carry on business however,</li> </ol> <ul> <li>has no place of establishment or fixed establishment in the UAE or an Implementing State;</li> <li>is not a Taxable Person;</li> <li>is registered as an establishment with a competent authority in the jurisdiction in which is established; and</li> <li>is from a country that provides refunds of VAT to UAE entities in similar circumstances.</li> </ul> <p><strong>Point to be noted:</strong></p> <ol style="list-style-type:lower-alpha"> <li>The period of each refund claim shall be 12 calendar months.</li> <li>The minimum amount of each Tax claim that may be submitted under this VAT Refunds for Foreign Businesses Scheme shall be AED 2,000.</li> </ol> <p style="margin-left:35.45pt"><strong>Steps to claim refund:</strong></p> <ol style="list-style-type:lower-alpha"> <li><strong>Download the Form</strong> from the designated section on the FTA website.</li> <li><strong>Complete the Form</strong></li> </ol> <ul> <li>Please fill in the form field by field.</li> <li>You must fill out the PDF form first before printing out for signature and/or official stamp. Handwriting is not accepted.&nbsp;</li> </ul> <p>&nbsp; &nbsp; &nbsp; c. Submit the Form along with the supporting documents</p> <ul> <li>Send the soft copy (signed version in PDF format) to <a href=""></a></li> <li>Accepted file types are PDF, JPG, PNG and JPEG. &middot; The total file size limit is 5 MB.</li> <li>You will obtain an immediate email notification upon successful submission of the Refund Form.</li> </ul> <p><strong>For more details, please refer to the full user guide issued by FTA.</strong></p> <p style="margin-left:53.45pt">&nbsp;</p> <ol> <li><strong>GIBAN &ndash; FTA announced a new method for paying UAE VAT</strong></li> </ol> <p>In addition to the existing means of paying VAT to FTA via e-Dirham, FTA has introduced a new method for making payment i.e. GIBAN.</p> <p><strong>So, what is GIBAN?</strong></p> <ol> <li>GIBAN shall be given to taxable person as a unique IBAN number.</li> <li>This option was made available by FTA from 28<sup>th</sup> February 2018.</li> <li>It will allow a taxable person to make fund transfer through online banking channels or a bank teller, while making payment to FTA.</li> </ol> <p><strong>For more information, step by step guideline is available in FTA guide.</strong></p>


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