UAE, 10 October, 2024 : The UAE's Federal Tax Authority (FTA) has released a new public clarification, CTP004, addressing the postponement of the deadline to file a Corporate Tax return and settle Corporate Tax payable for specific tax periods.
Key dates have been updated:
- Taxable entities with periods ending December 31, 2023, must now file returns and settle payments by December 31, 2024.
- Administrative penalties for late filings will start applying from January 1, 2025.
The clarification pertains to taxable persons incorporated, established, or recognized under UAE legislation on or after June 1, 2023, with tax periods ending on or before February 29, 2024. These entities are now required to file their tax returns and settle their Corporate Tax payable by December 31, 2024.
Taxable persons with tax periods ending after February 29, 2024, remain unaffected by this postponement. For them, any administrative penalties related to delayed submission or settlement will take effect from January 1, 2025.
This clarification ensures that taxable persons are informed about the revised timelines and avoid any penalties for late compliance.
Source : www.tax.gov.ae
Related Posts
UAE, 10 January, 2025 : H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affa...
Read More
UAE, 10 January, 2025 : H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affa...
Read More
UAE, 10 January, 2025 : The Ministry of Finance (MoF), in partnership with the Technical ...
Read More