Dubai: The Federal Tax Authority (FTA) has called on businesses subject to Corporate Tax to ensure that they file their returns and settle any outstanding dues within the legally mandated timeframes for their respective tax periods.
According to Emirates News Agency,the FTA issued Decision (7) of 2024 last September, which postponed the deadline for filing a tax return and settling the Corporate Tax Payable to 31st December 2024 for tax periods ending on or before 29th February 2024. This decision affects tax periods ending in December 2023, January 2024, or February 2024. The FTA emphasized that businesses should comply with these deadlines to avoid administrative penalties for non-compliance.
The FTA highlighted that, except for the specific tax periods where the deadline has been extended, businesses must file their returns and pay their Corporate Tax within nine months of the end of their tax period. Khalid Ali Al Bustani, Director-General of the FTA, reiterated the necessity of adhering to the specifie
d timeframes for each tax period. He emphasized that all registered businesses must periodically file their tax returns as per the deadlines established under the Corporate Tax Law.
Al Bustani further mentioned that the FTA maintains ongoing communication with taxable persons, seeking their feedback and addressing potential challenges. This engagement aims to ensure the smooth implementation of tax legislation without hindering economic activities.
