The Federal Tax Authority (FTA) has announced it will be discontinuing the use of the e-Dirham system in paying taxes as of next Sunday, 30th October 2022, replacing it with Magnati, the smart payment option from First Abu Dhabi Bank (FAB).
The Authority explained that the electronic tax payment platform available through the e-Services portal on the FTA website provides various other payment options for its customers, while maintaining the highest levels of security, ease of use, and speed.
One of these options, the FTA noted, is payment using the Generated International Bank Account Number (GIBAN), which is issued by the FTA to each tax registrant and allows taxpayers to send direct transfers from their bank accounts to the Authority. The system is used to transfer funds from various financial institutions in the UAE and abroad, and can be used to pay Value Added Tax (VAT), Excise Tax, and any other tax obligations.
Source: Zawya
Latest Posts in "United Arab Emirates"
- UAE Simplifies VAT Recovery Documentation for Imported Services Under Reverse-Charge Mechanism
- Comprehensive Guide to UAE Free-Zone Business Compliance Under Ministerial Decision No. 229 of 2025
- UAE E-Invoicing Mandate for VAT Businesses Begins July 2026 with Phased Rollout
- RTC Webinar: UAE e-Invoicing: A Corporate Perspective on the Mandate and Opportunities, 25 September | 4 – 5 PM (Dubai)
- FTA Publishes Guidance EXTP012 on Shifting to Tiered Volumetric Excise Tax for Sweetened Drinks
