The exemption from the “fine for recording” raises the number of registrars for corporate tax

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 corporate tax, and some categories of exempt persons demanding registration with the authority, and who are late in submitting registration requests during the specified legal period.

The authority explained that, and 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 demanding registration) must submit his tax approval (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, confirming that the exemption initiative from “A fine of delay in registration” is applied only on the first tax period of the tax (or the exempted person who is required to register), whether the date of the first tax declaration (or the first annual declaration) previously to start implementing the new decision, or after the decision to implement the decision.

The Director General of the Federal Tax Authority, Khaled Ali Al -Bustani, again stressed the importance of speeding up the tax tax that is not registered to submit registration requests and then submit tax declarations for corporate tax through the “TAARAAAAA” 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 exempted persons demanding registration with the authority from administrative fines The result of delay in submitting registration requests.

He said: «This important initiative came within the framework of the comprehensive strategy to support the business sectors and encourage voluntary compliance with tax laws and procedures to avoid administrative fines, in a way that contributes to enhancing economic growth, achieving transparency and tax justice in a legislative environment that keeps pace with variables through sustainable development to maintain performance quality, and manage the tax system at the highest levels of efficiency and accuracy.

Al -Bustani added: «The registration for corporate tax is witnessing a remarkable turnout, as the initiative of exemption from (the fine of delay in registration) contributed to increasing the number of registered companies for corporate tax, as it rose 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 registrars of companies tax submitted Their tax declarations and their annual permits during the specified period to benefit from the initiative.

He continued: «These indicators reflect the success achieved by the initiative, as it shows the growing awareness of the business sectors of the importance of compliance with tax procedures, as the authority is keen on continuing communication 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 may face them, and the authority intensifies its efforts in cooperation with the concerned authorities to introduce the importance of the initiative and the necessity Expedite those who are subject to non -registered companies 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 ».