"Federal Taxes" It demands that those who are tax tax to retain records and documents

Abu Dhabi, August 27 / WAM / The Federal Tax Authority stressed the necessity of adhering to the corporate tax to maintain all records and documents that support the validity of the information submitted in their tax declarations or any other document that must be submitted to the authority, and these records enable the authority to verify the taxable income for the purposes of corporate tax.
The authority said in a press statement today, that the records and documents to be kept and submitted with the approval of the corporate tax may differ according to the nature of the tax -subject business, but there are basic documents that must be kept and include, but not limited The taxable, and the shares or shares are retained at the end of the tax period.
The authority indicated that in the event that the one who is subject to corporate tax does not retain the required records, and all other information determined by the tax procedures law and the corporate tax law, administrative fines will be applied in accordance with the relevant tax legislation.
She emphasized that persons exempt from corporate tax are also obligated to maintain the records that enable the authority to verify their exemption status in accordance with the corporate tax law, and the required documents in this case depend on the reason for the person’s exemption from the corporate tax, and both the tax and the exempted persons must keep the records and documents for at least seven years after the end of the tax period that relates With it.
The Federal Tax Authority renewed its invitation to those who are subject to corporate tax to submit tax decisions and pay the tax due tax for the relevant tax period during the legal periods specified in order to avoid exposure to delay fines and penalties for tax failure.
She pointed out that those who are subject to corporate tax submit their tax decisions and pay the tax entitled to the authority within a period not exceeding nine months from the date of the end of the tax period for each registrar, while the exempt persons who are asked to register, they must submit their annual statements within nine months of the end of the fiscal year, for example, the taxable person who ends in December 31 must 2025 Submit his tax approval and payment of the companies due no later than September 30, 2026.

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