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How to Initiate a VAT Payment to FTA (Federal Tax Authority) Print

After Beneficiary Registration, you may proceed with the steps below to initiate the VAT Payment to FTA.

Initiating a Fund Transfer for Local Bank transfer in iBusiness


Step 1:

  • Log in to iBusiness
  • Go to Transact >> Remittance >> Local bank Transfer
  • Debit Information >> Select the account to be debited From the Account.
  • Beneficiary Details >> Select Corporate >> Click on Select Beneficiary >> Search for the added beneficiary and select and submit the form. Beneficiary Account and beneficiary name will be populated.



Step 2:

  • Payment Type >> Tax and Charges >> CBD Charges to Remit
  • Fill out the Payment Details
  • Invoice Number is mandatory for VAT Payments
  • Accept the Terms and Conditions and click Initiate.
  • Enter the PIN+RSA Token and click Submit.



For Bulk Domestic File:

In case you are using bulk domestic file format then you will be required to enter invoice number in the Payment Details Field (Column H), while other fields will be required to be filled in with the respective data.

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For Bulk single remittance file:

In case you are using bulk single remittance file format then you will be required to enter invoice number in the Payment Details Field (Column Z), while other fields will be required to be filled in with the respective data.

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For H2H single remittance file:
In case you are using H2H Single Remittance File, the Invoice Number should be available in the Payment Detail Field.

Below screenshot is for your reference:

Note: 

  • The approval process will depend on the setup done by the iBusiness System Administrator of the respective organization.
  • The transaction processing will be done as per Central Bank’s cut-off time.
  • The payment settlement status can be checked from the FTA website.

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