The Federal Tax Authority (FTA) has reminded taxpayers who have yet to update their tax records to take advantage of the extended grace period, allowing submissions until the end of March 2025 without facing administrative penalties.
The Cabinet Decision on the Executive Regulations of the Federal Decree-Law on Tax Procedures requires registrants to inform the FTA of any data changes within 20 business days using the designated form and process.
Failure to comply within the specified timeframe may lead to penalties.
UAE Tax Authority Waives Penalties for Record Updates Before March 2025
The FTA clarified that the required updates include business name and address, email address, trade licence activities, legal entity type, partnership agreements for unincorporated partnerships, articles of association or equivalent documents, business nature, and any operational addresses.
To promote compliance, the Cabinet introduced a grace period from 1 January 2024 to 31 March 2025, enabling registrants to update their records without incurring penalties.
The Authority stressed that this initiative aims to “support taxpayers, encourage compliance with tax regulations, and provide further facilitation to streamline tax procedures across business sectors while enhancing their contribution to the national economy.”
For further clarification, the FTA has advised taxpayers to review the public clarification on the grace period, accessible via the Public Clarifications service on its official website.
You can also visit: https://thefinanceworld.com/dubai-tourism-and-premier-inn-partner-to-boost-visitor-experience/
