If you’re a UAE resident, when you send money from United Arab Emirates dirham (AED), we’ll increase your total fees by 5% to cover the Value Added Tax (VAT) we’re required to charge.
What is VAT?
Value Added Tax (VAT) is a tax on the consumption of goods and services — it’s charged when you make a payment.
VAT is a form of indirect tax. This means businesses are responsible for collecting this tax on behalf of the governing tax authorities.
Why is Wise charging me VAT?
As a business processing AED, we’re required to collect the VAT on behalf of the Federal Tax Authority of UAE. We don’t benefit from charging this tax, it goes straight to the tax authority.
The VAT rate is 5% — so we’re only increasing your fees by exactly this much.
How do I download my tax invoice?
To download your invoices on the website:
Go to your Home
Select a transfer or transaction you made from AED
Select the 3 dots on the right hand side
Select Get tax invoice to download your invoice