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FTA Warns Business Owners Over VAT Refund Scam
by Adnan Manzoor | SEP 19, 2019

The UAE’s Federal Tax Authority has issued a warning to business owners to be wary of phishing emails from scammers.

The new scam came to light after emails were sent to customers of local banks requesting their personal banking details so that their VAT refund can be processed.

The Authority has revealed that some bank customers have received phishing emails "from unidentified sources impersonating banks and financial institutions and asking recipients to provide personal data” in order to help the businesses to recover the VAT refund from FTA. The personal data requested includes names, credit card numbers and bank account Personal Identification Numbers (PINs).

The Authority emphasized that the VAT refund process can only be performed by logging into the secure online portal which is available to each VAT registered individual and business.

The FTA added that the process is safely executed on the official portal by utilizing International Bank Account Number (IBAN) and that the system is under the authority of the Central Bank of the UAE.

In November last year, ENBD issued a similar statement warning its customers to be careful of such requests made by fraudsters.

The FTA has urged all business owners to remain vigilant and maintain confidentiality of their data.

It is important that all business owners seek advice only from reliable service providers.

Affiniax Partners has been providing Professional Services to its clients for over 25 years. We have a team of VAT specialists in the region who can assist you through the process. For more information, please contact us at mail@affiniax.com


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