UAE, 30 April, 2025 : The UAE Ministry of Finance and Federal Tax Authority (FTA) have announced a waiver on penalties for businesses and certain exempt entities that failed to register for corporate tax on time. To qualify, companies must file their corporate tax returns or annual declarations within seven months from the end of their first tax period, as per the Corporate Tax Law.
The initiative is part of efforts to ease the transition into the new tax regime introduced in 2023. Businesses that meet the conditions will also be eligible for a refund of any late registration penalties already paid. Authorities say the move supports voluntary compliance, simplifies procedures, and reduces the financial burden on companies during the first year of the corporate tax rollout.
This step aligns with broader government efforts to foster a business-friendly environment and attract investment.
Source : gulfnews.comRelated Posts
Real estate has long been one of the most attractive sectors for criminals seeking to disguise illic...
Read More
For years, regulatory enforcement in AML followed a familiar pattern. A bank was found to have weak ...
Read More
For many Corporate Service Providers, customer due diligence is often viewed as the most important s...
Read More