UAE, 30 July, 2025 : With the July 31 deadline looming, UAE businesses are in a last-minute rush to file their 2024 corporate tax returns to avoid a Dh10,000 late registration penalty.
The Federal Tax Authority (FTA) had allowed firms that were fined for late registration to have the penalty waived—provided they file their corporate tax returns through the EmaraTax portal by July 31, 2025. So far, 33,900 businesses have benefited from the waiver.
“Some companies that registered at the last minute are still awaiting approval to proceed with filing,” said Sumayya Zain, founder of Hallmark International Auditors. She added that businesses can file by July 31 and still pay the tax by September 30 to qualify for the waiver.
However, any delays in registration approvals or amendments could prevent companies from filing on time. Failing to meet the deadline will result in the penalty being reimposed.
Taxpayers who already paid the fine will be eligible for a refund if they submit their returns within seven months of their tax period end.
The waiver only applies to the first tax period, and businesses must submit signed and stamped financial statements—even if not audited. Taxpayers must also consider elections such as the ‘realisation basis’ and transitional adjustments, which could have lasting tax impacts.
The FTA has confirmed that July 31 is the final deadline for most companies whose financial year ends December 31.
Source: gulfnews.com
