The FTA DG said the high level of voluntary compliance reflected growing tax awareness among business sector and the efficiency of the EmaraTax digital platform
The announcement, made on September 14, stresses the importance of timely submission and payment of Corporate Tax Payable
The more sugar a beverage contains, the higher the tax per litre, marking a definitive shift from the current flat-rate model
In a statement issued on August 11, the FTA revealed that its inspection teams carried out 85,500 field visits during the first half of the year
The FTA clarified that the penalty waiver only applies to the first tax period of a taxable or exempt person
The FTA clarified that this exemption applies only to the first tax period of the taxable person
The new e-commerce VAT refund system builds upon the success of the FTA’s fully digital VAT refund system, which was first introduced over two years ago
The UAE’s new VAT updates will impact several sectors, with investment fund management and virtual assets receiving key exemptions
Taxable persons incorporated on or after June 1, 2023, with tax periods ending on or before February 29, 2024, now have until December 31 to fulfill their corporate tax obligations
Businesses operating in UAE free zones must review the FTA’s latest guidelines to ensure compliance and take advantage of the 0 per cent corporate tax rate on qualifying income
The introduction of the Taxpayer Charter is part of the FTA’s broader efforts to enhance taxpayer awareness about the UAE tax system
Failure to comply with the tax deadlines could result in hefty fines
Under Cabinet Decision No (75) of 2023, penalties will be imposed on taxable persons who do not comply with the UAE corporate tax law effective from August 1
The initiative is designed based on the results of an opinion poll and proposals fielded by the authority through its direct communication with customers