Submission of the Tax Return or Annual Declaration Within 7 Months
The Ministry of Finance and the Federal Tax Authority announce the launch of an initiative to exempt corporate taxpayers, along with certain categories of individuals required to register with the Federal Tax Authority, from administrative penalties arising from delays in submitting tax registration applications within the specified timeframe.
This exemption is conditional upon submitting the tax return or the annual declaration within a period not exceeding 7 months from the end of their first tax period, along with the implementation of the necessary procedures to refund administrative penalties collected from individuals who meet the required conditions.
???? New Initiative for Corporate Taxpayers: Exemption from Late Tax Registration Penalties ????
The Ministry of Finance and the Federal Tax Authority have announced the launch of a special initiative offering an exemption from administrative penalties for corporate taxpayers — as well as certain individuals required to register — who were late in submitting their tax registration applications.
✅ To qualify for the exemption:
- The tax return or annual declaration must be submitted within 7 months from the end of the first tax period.
- Necessary procedures must be completed to process refunds of any previously collected penalties for those who meet the eligibility criteria.
This is a valuable opportunity for businesses and individuals to align with compliance requirements and reduce financial burdens! #CorporateTax #TaxCompliance #FederalTaxAuthority #TaxRelief #UAE
