Habib Bank AG Zurich Habib Bank AG Zurich  

	UPDATE ON VAT (3rd July 2018)

	Further to our previous  notice on VAT dated  1st January 2018,  we would
	like to notify  that  under the  UAE Central Bank Notice  157/2018  dated
	19th June 2018,  VAT will be applicable for individual and non-individual
	customers.  Effective 1st July 2018,  HBZ UAE will apply  5%  VAT on fees
	and  commission as  applicable  under  the  Federal  Tax  Authority (FTA)
	If you are registered  for VAT with  the FTA and you have not provided us
	with your  Tax Registration Number (TRN),  you can inform us via email at
	vat.ae@habibbank.com  enabling us to  include the TRN on  all your future
	tax invoices.
	If the  above  information  is  not  provided,  HBZ  will  issue  the Tax
	invoice(s) without the TRN.  Please note,  invoice(s) without TRN may not
	be considered as evidence to claim input tax credit after 30th June 2018. 
	HBZ UAE will not re-issue tax invoices or credit notes after this date.
	HBZ UAE will revise the  Schedule of Charges  governing your relationship
	and updates will be available on our website.
	For further information, please visit the FTA website at www.tax.gov.ae.