emirates7 - The Federal Tax Authority (FTA) has urged businesses subject to Corporate Tax to submit their tax returns and settle their dues for the relevant tax periods within the required legal timelines.
In line with its commitment to promoting voluntary tax compliance in a smooth and efficient manner, the FTA issued Decision (7) of 2024 in September, which extended the deadline for filing tax returns and paying Corporate Tax to December 31, 2024, for tax periods ending on or before February 29, 2024 (e.g., tax periods ending in December 2023, January 2024, or February 2024).
In a recent statement, the FTA reminded businesses affected by this extension to file their tax returns and pay any Corporate Tax due by the end of December 2024 to avoid administrative penalties for failing to meet the legally mandated deadlines.
The FTA clarified that, except for the specific tax periods covered by the extension, businesses subject to Corporate Tax must submit their returns and pay the tax within nine months after the end of their tax period.
Khalid Ali Al Bustani, Director-General of the FTA, emphasized the importance of filing tax returns on time for each tax period. He also noted that all businesses registered for Corporate Tax are required to submit their returns within the deadlines set by the FTA in accordance with the Corporate Tax Law.
Al Bustani further highlighted that the FTA maintains regular communication with taxable entities to gather feedback and address any challenges, ensuring the effective implementation of tax regulations without hindering economic activities.
In line with its commitment to promoting voluntary tax compliance in a smooth and efficient manner, the FTA issued Decision (7) of 2024 in September, which extended the deadline for filing tax returns and paying Corporate Tax to December 31, 2024, for tax periods ending on or before February 29, 2024 (e.g., tax periods ending in December 2023, January 2024, or February 2024).
In a recent statement, the FTA reminded businesses affected by this extension to file their tax returns and pay any Corporate Tax due by the end of December 2024 to avoid administrative penalties for failing to meet the legally mandated deadlines.
The FTA clarified that, except for the specific tax periods covered by the extension, businesses subject to Corporate Tax must submit their returns and pay the tax within nine months after the end of their tax period.
Khalid Ali Al Bustani, Director-General of the FTA, emphasized the importance of filing tax returns on time for each tax period. He also noted that all businesses registered for Corporate Tax are required to submit their returns within the deadlines set by the FTA in accordance with the Corporate Tax Law.
Al Bustani further highlighted that the FTA maintains regular communication with taxable entities to gather feedback and address any challenges, ensuring the effective implementation of tax regulations without hindering economic activities.