Parkin Aligns Parking Tariffs With UAE VAT Requirements Effective June 2026

2026-05-22 02:45:44

(MENAFN- Mid-East Info)

Dubai, May, 2026: Parkin Company PJSC (“Parkin” or the“Company”), the largest provider of paid public parking facilities and services in Dubai, and in coordination with relevant government authorities and applicable UAE tax regulations, will proceed to apply a 5% Value Added Tax (VAT) to its parking tariffs starting 1 June 2026, ensuring full compliance and transparency across all services.

What is changing: From 1 June, VAT at 5% will be applied to all parking services provided by the Company, which includes on-street and off-street parking, seasonal cards, permits and reservations.

Ahead of implementation, and to support a well-managed transition, customers are encouraged to refer to Parkin's official communication channels for up-to-date information, including the VAT application. These resources will be available on the Parkin app and website, as well as across Parkin's customer experience center and social media channels.

In line with the government of Dubai's Cashless Strategy for 2026, cash payments at parking meters will be phased out effective 1 June, while payment by nol card will remain available. As part of this broader transition toward digital payments, customers are encouraged to download and use the Parkin mobile application. The app provides a convenient and seamless payment experience, while helping customers avoid additional costs associated with SMS payments.

As a key partner in Dubai's growth and long-term mobility ambitions, Parkin remains committed to transparency and delivering best-in-class parking solutions for residents and visitors. The Company continues to ensure its services are fully aligned with applicable regulatory requirements while supporting the city's evolving transportation landscape.

About Parkin Company PJSC: With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin Company PJSC is the largest provider of paid public parking facilities and services in the Emirate of Dubai, with a portfolio of approximately 229k paid parking spaces, as at year end 2025. Parkin has a dominant position in relation to Dubai's on and off-street paid public parking market and a leading share of the overall paid parking market. Under a 49-year Concession Agreement with Dubai's Roads and Transport Authority (RTA), Parkin has the exclusive right to operate a portfolio of public on and off-street parking (c.193k spaces) as well as public multi-storey car parking facilities (c.4k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (c.32k spaces) and provides barrierless, ticketless parking on behalf of Majid Al Futtaim across two malls. Additional revenue streams include enforcement, the issuance of seasonal permits, parking reservations and other commercial activities. By deploying state of the art digital payment solutions and intelligent parking management systems that utilise artificial intelligence and big data analysis, Parkin's customers successfully conducted 141m parking transactions in 2025. Dubai's parking operations were established in 1995 under the Dubai Municipality, before becoming part of the RTA in 2005. In December 2023, Parkin Company PJSC was established through the issuance of Law No. 30 of 2023, successfully completing its initial public offering (IPO) on the Dubai Financial Market in March 2024.

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