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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 in the Payment Details; Accept the Terms and Conditions and click Initiate.
  • Enter the PIN+RSA Token and click Submit.



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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