Value Added Tax (VAT)

LM Exchange introduces Value Added Tax (VAT) Payment/Return services for corporate entities in the UAE: The process of collecting VAT payments from registered corporate entities involves LM Exchange collecting cash from these entities on behalf of partner entities for VAT payments. Subsequently, the collected funds are transferred to a designated bank account of the Federal Tax Authority (FTA) through the UAEFTS (United Arab Emirates Funds Transfer System). All entities registered under the Federal Tax Authority (FTA) possessing a TAX Registration Number (TRN) and a GIBAN bank account number can conveniently visit any LM Exchange branch to fulfil their VAT payment obligations to the FTA.