The financial penalties follow detailed investigations which uncovered shortcomings in how certain firms were conducted the reporting and compliance procedures
The financial penalties follow detailed investigations which uncovered shortcomings in how certain firms were conducted the reporting and compliance procedures
UAE tax authority sends clear message to businesses on how to avoid Dh10,000 fine
Federal Tax Authority urges swift registration as businesses face penalties without timely compliance
Qualifying income and substance requirements key to qualify for exemption
Investors in such funds need to carefully track “diversity of ownership” mandate
Businesses that still fail to meet deadline will invite administrative penalties. There will be no admin penalties during the grace period provided to update tax records.
Submit your Corporate Tax return by September 30, 2025 to avoid penalty of Dh10,000.
Influencer payments not done in cash too need a recheck for tax purposes.
The recent Federal Decree Law No 16 of 2024 introduced amendments to the UAE’s VAT law of 2017, including the implementation of e-invoicing.
The FTA specified that it is offering a grace period for tax registrants who have fallen behind on updating their tax records for the period from 1 January 2024 until 31 March 2025.
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