Value Added Tax (VAT) is now live in the UAE effective 1st January, 2018. VAT is a transaction tax, chargeable on the supply of goods and services. As a VAT-registered business, The Bank has been required to charge VAT on its services where prescribed under the Law. We remain in close contact with the appropriate regulatory authorities and will update customers on any changes in due course. For further information on VAT, please visit the website of UAE Ministry of Finance or the UAE Federal Tax Authority. For any enquiries on the above, please email us at customertaxtrn@cbd.ae.