"Federal Taxes" It calls to accelerate the registration in the corporate tax to benefit from the exemption

Abu Dhabi, July 16/ WAM/ The Federal Tax Authority confirmed the increase in the number of beneficiaries of the exemption initiative from the “delay in registration fine” for corporate tax from the tax, and some categories of the exempted persons demanding registration with the authority and late in submitting registration requests during the specified legal period.

The authority stated in a press statement today, that to exempt from a “delay in registration fine” for the tax of 10,000 dirhams, it is required that the tax subject “or the exempted person who demands registration” submit his tax pass “or his annual statement” within a period not exceeding seven months from the date of the end of the first tax period “or the first fiscal year” instead of nine months.

She emphasized that the initiative of exemption from the “delay in registration fine” is applied only to the first tax period of the tax subject “or the exempted person who demands registration” whether it is the date of the first tax declaration “or the first annual statement” previously to start implementing the new decision or after the decision to implement the decision.
His Excellency Khaled Ali Al -Bustani, Director General of the Federal Tax Authority, stressed the importance of accelerating the tax tax that is not registered to submit registration requests and then submit tax declarations for corporate tax through the “Emirates Tax” platform during the period specified to benefit from the cabinet decision regarding the initiative to exempt those who are subject to corporate tax and some categories of the exempted persons demanding registration with the authority from the resulting administrative fines About delay in submitting registration requests.
Al -Bustani pointed out that this important initiative came within the framework of the comprehensive strategy to support the business sectors and encourage voluntary compliance with the laws and tax procedures to avoid administrative fines, in a way that contributes to enhancing economic growth, achieving transparency and tax justice in a legislative environment that accompanies the variables through sustainable development to maintain performance quality, and manage the tax system at the highest levels of efficiency And accuracy.
He pointed out that registration for corporate tax is witnessing a remarkable turnout, and the initiative of exemption from “the fine for recording” contributed to increasing the number of registered companies for corporate tax, as their number increased to 576 thousand registered compared to 538 thousand registered before the launch of the initiative last April, an increase of 38 thousand registered, and thousands of registered companies for corporate tax submitted Their tax declarations and their annual permits during the specified period to benefit from the initiative.
Saadeh Al -Bustani said: “These indicators reflect the success of the initiative, as it shows the growing awareness of the business sectors of the importance of compliance with the tax procedures, as the authority is keen to continue communicating with all sectors of business through various awareness channels, to introduce compliance procedures, and seek the opinions of those concerned and discuss ways to overcome any challenges that they may face.”

He noted that the authority is intensifying its efforts in cooperation with the concerned authorities to introduce the importance of the initiative and the need to accelerate those who are subject to the tax that are not registered to benefit from them by submitting registration requests and submitting tax declarations and annual permits within a period not exceeding seven months from the date of the end of the first tax period or the first fiscal year.

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