FTA Urges UAE Businesses to File Corporate Tax Returns by December 2024

The Federal Tax Authority (FTA) has extended the deadline for UAE businesses to file corporate tax returns to December 2024. This applies to tax periods ending on or before February 29, 2024. The decision aims to promote voluntary compliance and streamline tax processes for businesses.

The Federal Tax Authority (FTA) has announced an extension for UAE businesses to file their corporate tax returns, now due by December 2024. This extension focuses on tax periods concluding on or before February 29, 2024, such as those ending in December 2023, January 2024, or February 2024.

In a recent statement, the FTA emphasized the necessity for businesses to complete their tax returns and payments by the new deadline to avoid penalties. The authority has warned that businesses failing to comply could face administrative penalties. The deadline adjustment follows Decision (7) of 2024 aimed at easing compliance burdens.

Khalid Ali Al Bustani, Director-General of the FTA, highlighted the significance of timely tax return submissions. He mentioned ongoing efforts by the FTA to assist businesses by gathering feedback and addressing any challenges, ensuring the smooth enactment of tax policies while safeguarding economic activities.

(With inputs from agencies.)