EmaraTax Adds Tabby and Jaywan Payment Option
The UAE Federal Tax Authority (FTA) has now come up with two additional payment options on its EmaraTax platform: Tabby and Jaywan.
Yes, you heard it right!
This feature will help businesses owners and the taxpayers with more flexibility in making their payments through the EmaraTax portal. Inorder to ease the payment options this addition was made as a part of the FTA's ongoing efforts to improve its digital services and make tax-related processes easier for businesses operating in the UAE.
What Has Changed?
In line of the existing options of bank / card payment options, the FTA has now announced that taxpayers can now use Tabby and Jaywan as additional payment methods only through the EmaraTax platform.
The update is expected to provide greater convenience, particularly for businesses that regularly make VAT, Corporate Tax and other tax-related payments through the platform, rather than defaulting on the payment due to financial restrictions.
Understanding the New Payment Options
Let's understand the two payment options introduced by the FTA.
1. Tabby
Tabby is a payment method broadly used in the UAE, which falls under the category of Buy Now, Pay Later (BNPL), it allows eligible customers to split certain payments into instalments, subject to its terms and conditions.
It is now available on the EmaraTax portal as an additional payment option for taxpayers who prefer using this service.
2. Jaywan
Jaywan is another UAE's domestic card payment scheme, this was introduced inorder to support digital payments within the country.
Now, its availability on EmaraTax will help the taxpayers with another card-based payment option, making it easier to complete their tax payments through the platform without any delay.
How Does This Benefit UAE Businesses?
For businesses in the UAE, on-time tax payments are an important part of regular compliance requirements. Now having additional payment options will make the process more flexible for the tax payers.
Some of the expected benefits include:
- Businesses has the flexibility to choose from a wider range of payment methods.
- Taxpayers has the convenience to make payments directly through the EmaraTax platform.
- Businesses has the option to select the payment option that suits their payment preferences.
- The update supports the UAE's wider digital transformation initiatives, aiming at NO PAPER.
- Having an additional payment options helps businesses to manage their payment requirements more effectively and on-time.
How to Use Tabby or Jaywan on EmaraTax?
It is a simple process for the taxpayers to follow these basic steps:
- Log in to your EmaraTax portal account.
- Go to the relevant tax payment section.
- Choose the outstanding payment you wish to settle for that time.
- Review the payment methods displayed on the platform.
- Select Tabby or Jaywan, if available and applicable.
- Follow the payment instructions to complete the transaction.
P.S: Always ensure that the payment confirmation is received and the amount is credited against your tax liability.
Things Businesses Should Keep in Mind
Although the introduction of additional payment methods is a welcome development, it is the responsibility of the tax payers on the following points:
- Payment deadline.
- Review of terms and conditions.
- Check on any additional charges or instalment conditions apply.
- Keep the payment confirmation and supporting records for future records.
- Wait to get the payment confirmation message.
What Does This Mean for UAE Taxpayers?
The introduction of Tabby and Jaywan is another step of leap towards making the UAE's tax administration system more accessible and convenient, with more advanced options.
As we all know. the FTA continues to improve the EmaraTax platform by introducing services that support the changing needs of businesses and taxpayers, we can look for more updates in the coming months as well.
While the new options provide additional flexibility, businesses must ensure that their VAT, Corporate Tax and other tax obligations are paid within the prescribed timelines, as still any missed due dates will result in penalties and fines by the FTA.
Final Thoughts
At Flying Colour Tax Consultants, we help businesses manage their UAE VAT, Corporate Tax, accounting and other tax compliance requirements. Our team can assist you in understanding your tax obligations and keeping your business compliant with UAE regulations.
Need assistance with your UAE tax compliance? Get in touch with Flying Colour Tax Consultants today.
7 FAQs: Tabby and Jaywan on EmaraTax
1. What new payment options are now available on EmaraTax?
The UAE Federal Tax Authority has just added Tabby and Jaywan as payment options on EmaraTax, in addition to bank and card payments, which were already on there.
2. What is Tabby and how will it work with tax payments?
Tabby is a buy now, pay later service that lets eligible users break up payments for certain things into more manageable instalments - subject to its standard conditions. Its now one of the options you'll see when you're paying taxes on EmaraTax.
3. What is Jaywan, anyway?
Jaywan is the UAE's home-grown card payment scheme that was brought in to make digital payments easier within the country. Its now also available on EmaraTax as a card-based payment option for taxes.
4. Which tax payments can I make with Tabby or Jaywan?
These new options are for any payments you're making through EmaraTax - this includes VAT and Corporate Tax, although keep an eye on the platform as availability might vary depending on the type of payment.
5. How do I pay on EmaraTax using Tabby or Jaywan?
Just log in to EmaraTax, go to the tax payment section, pick the payment thats causing you problems, then - if Tabby or Jaywan is available - choose that as your payment option and follow the on-screen instructions to the end - and make sure you save the confirmation.
6. Does paying by instalments give me more time to pay my taxes?
No, not on your life. The deadline to pay your taxes is still the same. Using a payment plan like Tabby is just one way to pay, and if you miss the deadline you'll still get hit with all the usual fines and penalties, so try to pay on time.
7. How can Flyingcolour Tax Consultants help with all that UAE tax business?
Flyingcolour Tax Consultants can help manage all your VAT, Corporate Tax and accounting stuff, which means they can keep you right on the things you need to do to avoid getting fined.(SSK)
To learn more about UAE FTA Expands EmaraTax Payment Options: Tabby and Jaywan Now Available, book a free consultation with one of the Flyingcolour team advisors.
Disclaimer: The information provided in this blog is based on our understanding of current tax laws and regulations. It is intended for general informational purposes only and does not constitute professional tax advice, consultation, or representation. The author and publisher are not responsible for any errors or omissions, or for any actions taken based on the information contained in this blog.