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FFA Private Bank Dubai

Value Added Tax Law

Starting from the 1st January 2018, FFA Private Bank (Dubai) Limited shall charge Value Added Tax 5% (hereinafter referred to as “VAT”) to most applicable financial services in compliance with the UAE Federal Law No. 8/2017 and Federal Tax Authority (FTA).

The UAE Ministry of Finance and UAE Federal Tax Authority published Executive Regulations setting out how VAT will operate in the UAE and provided clarity with respect to how VAT will apply to financial services. The VAT Law and implementing regulations can be accessed at:

Ministry of Finance: https://www.mof.gov.ae/En/budget/Pages/VATQuestions.aspx,
Federal Tax Authority https://www.tax.gov.ae/index.aspx.

In order to reflect the introduction of VAT from 1st January 2018, we are including an Addendum as a further agreement to the existing Terms of Business Agreement applicable to our financial services and arrangements. Your continued dealing with FFA Private Bank (Dubai) Limited is your acceptance of the Addendum and amendments to existing Terms of Business Agreement. Except as varied by the Addendum, existing Agreement(s) with you shall continue in full force and effect in all respects.

Corporate Customers who are required to register for VAT, please communicate to us your details (as per below) via email to FFADubaiCompliance@ffaprivatebank.com to enable us to update the same in our records:

VAT registration number:
Correct entity name:
Entity Registered address:
Entity Operating address:

VAT is a consumption tax, and FFA Private Bank (Dubai) Limited will only be acting as a collection agent on behalf of Federal Tax Authority.

FFA does not and will not give tax advices, and as such cannot be held liable with respect to any tax law or regulation that might be applicable to you.

We recommend that you seek independent advice from relevant tax authority and/or tax specialists to consider how VAT might apply to you and act according to their advice and guidance.