Tuesday, July 16, 2024
Today’s News

The Federal Tax Authority Advises Taxpayers to Register in Order to Avoid Penalties.

The FTA emphasized that Taxable Persons would incur an administrative Penalty of Dhs10,000 if they do not apply to register for Corporate Tax within the allotted timeframes.

Following the deadlines outlined in FTA Decision No. 3 of 2024, which went into effect on March 1st, 2024, taxpayers were urged by the FTA in a press release released on Sunday. Each type of Taxable Person subject to Corporate Tax has a deadline for submitting their application for Corporate Tax registration, outlined in the Decision. Human and legal persons, as well as resident and non-resident individuals, are covered by the FTA Decision.

Reminding residents who are subject to corporate tax and have licenses issued in March or April—regardless of the year they were issued—the Federal Tax Authority (FTA) advises them to file their tax registration application for corporate tax as soon as possible to avoid administrative penalties. The deadline is June 30, 2024.

In keeping with FTA’s ongoing efforts to encourage Taxable persons subject to Corporate Tax to abide by FTA Decision No. 3 of 2024 on the Timelines Specified for Registration of Taxable Persons for Corporate Tax for Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its Amendments, this also takes place.

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Tuesday, July 16, 2024

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