U.A.E AED 10,000 Corporate Tax Penalty Waiver - Notification

[Talreja and Talreja]

Dear Members,

The entities who had failed to register for Corporate Tax within the due date, had to pay a Penalty of AED 10,000. Demand Notice to pay Penalty was issued to such Companies.

The UAE Ministry of Finance and Federal Tax Authority (FTA) have just announced yesterday a new initiative to waive penalties for businesses and certain exempt entities that missed the deadline to register for corporate tax.

To qualify for the waiver, eligible companies must file their corporate tax returns or annual statements within seven months from the end of their first tax period, as outlined in the Corporate Tax Law.

Regards
CA Kapil Talreja
U.A.E || U.S.A: +971-55-4559621
INDIA: +91-6356000989
OFFICE: Dubai | Sharjah | U.S.A | India

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