Value Added Tax(VAT) is an Indirect Tax introduced in the UAE with effect from 1 January 2018. This is applicable to all products and services(except those are specifically exempted by the Federal Tax Authority).

5% VAT shall be charged on the transfer fee and commission(including other charges) collected from the customers.

VAT is levied at the rate of 5%. For ease of operations, our revised rates w.e.f 01/01/2018 are inclusive of VAT. Please Click Here to know our revised charges.

No. There is no VAT on these type of transactions

Our Tax invoice issued at the time of completing a transaction carries the VAT collected and our TRN number

Yes, VAT is applicable for Instant Money Transfer facilities as well.

Yes, tourists are also subject to VAT.

Yes, VAT is applicable to Free Zone visa holders and entities registered in the Free Zone. There is no exemption on services hence VAT is chargeable at the regular rate of 5%.

Yes, VAT is applicable to all residents of UAE, including the UAE Nationals.

No.

VAT is levied on all forms of fee or charges for the following:

• Payroll card issuance
• WPS per employee
• Card replacement
• Withdrawal(applicable only for transactions on Bank ATM’s)
• Pin Issuance(Applicable only for Open Loop Cards)
• Pin Reissuance(Applicable only for Open Loop Cards)
• Balance Inquiry(Applicable only for Open Loop Cards)
• Statement(Applicable only for Open Loop Cards)
• Wrong dispute on card transactions

Tax Registration Number(TRN) is an identification number issued by Federal Tax Authority(FTA) to all taxpayers in the UAE.

TRN of GCC Exchange is 100025628700003

VAT related queries can be addressed to vat@gccexchange.com

Yes, every corporate or individual who has received TRN should intimate us the same for updation in our records.