Picture used for illustrative purpose only.
In response to reports that some bank customers have been receiving emails from unidentified sources impersonating banks and financial institutions requesting personal data in the promise of helping them claim their Value Added Tax's (VAT), the Federal Tax Authority (FTA) reaffirmed that tax refunds are processed only through the Authority's official website.
In a press statement issued on Tuesday, the Authority noted that some recipients have been asked to provide personal data, including names, credit card numbers, and PIN codes, claiming that providing the information will allow them to recover Value Added Tax.
"Refunding taxes for legally eligible applicants is a direct transaction between the registered business and the FTA, and does not call for any intermediaries," the Authority said.
"The process is completed via advanced electronic systems, available on the FTA’s official website, which include security features for financial transactions. It is done through official channels using the International Bank Account Number (IBAN), and via systems under the authority of - and electronically linked to - the UAE Central Bank."
The Authority added that all of these official systems involve dealing directly with the FTA using Tax Registration Numbers.
"They stand out for their accuracy, confidentiality, and data security, in addition to being inaccessible via email or any other medium that may be prone to piracy and hacking," the statement said.
The FTA went on to reiterate its warning to all registered businesses, calling on them to remain vigilant and maintain the confidentiality of their personal data.
It also said that all transactions - registration, submitting tax returns, refunding tax for eligible candidates, etc. - can be completed with a few simple steps via the e-Services portal, available 24/7 on the FTA website: www.tax.gov.ae.
WTS Dhruva Consultants, a boutique tax advisory firm and FTA registered Tax Agent with presence in the UAE, Saudi Arabia and Bahrain, has published another comprehensive guide on ‘Impact of Indirect Taxes on Retail Sector
The move is in line with the leadership’s vision to develop a modern housing system, spread happiness among citizens, and provide a decent, stable life for them.
Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), has said that 2020 will see further evolution in the development of the FTA’s electronic systems,
A new shipment of cigarette packets marked with the Digital Tax Stamps approved by the Federal Tax Authority (FTA) has made it to Dubai. The Stamps will be electronically tracked to ensure Excise Tax due on tobacco products has been settled. In a press statement issued on Saturday,
Facilio, a leading property operations software platform, has announced that it has been recognised by Frost & Sullivan with the 2021 Best Practices’ Product Leadership Award for the Internet of Things, (IoT)-based solution in the building operations and maintenance industry.
Sharjah Islamic Bank (SIB) recorded an increase of 27 per cent in the net profit reaching at Dhs514.1 million for the year compared to Dhs 405.8 million for the same period in 2020.
Malta celebrated its National Day at Expo 2020 with a varied programme highlighting the country’s rich history and culture. The festivities at the Stage of Nations