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Buddhism shares many deities with Brahmanism(Hinduism) and Jainism for example, Indra, Yama, etc. (Though the story associated with them might differ between the traditions, the central persona is the same).
Buddhism does acknowledge existence of deities but in a different context than Brahmanism / Hinduism. See: God in Buddhism, Deva
There are also many other deities which Brahmanism and Jainism do not share with Buddhism. Did Buddha forbid paying respects to such deities?
There is not forbidding of paying respect to deities or Devas. This can be used as a subject of meditation.