UAE Corporate Tax Return Deadline Extended to 31st December 2024
- September 26, 2024
Postponement of the Deadline to File a First Tax Return and Settle the Corporate Tax Payable for new companies incorporated on or after 01 June 23.
Federal Tax Authority (FTA) released decision no.7 of 2024
On 26 September 2024, the Federal Tax Authority (FTA) released decision no.7 of 2024 stating the Postponement of the Deadline to File a Corporate Tax Return and Settle the Corporate Tax Payable for Certain Tax Periods for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its amendments.
This decision states that the deadline to file the Corporate Tax Return and settle the Corporate Tax liability has been extended to 31 December 2024 subject to the fulfillment of all the following conditions :
- Entities that are incorporated, established or recognised on or after June 2023 and
- Entities have a tax period ending on or before 29 February 2024.
Don’t miss this critical deadline. Ensure compliance and avoid penalties by filing and settling your Taxes on time. Act now to avoid last-minute stress!
In conclusion, businesses meeting the criteria must ensure they file their Corporate Tax Return and settle liabilities by 31 December 2024. This extension highlights the importance of timely Corporate Tax Registration through the EmaraTax portal to avoid penalties and ensure compliance with the Federal Tax Authority’s requirements.
Note - Failure to file a Corporate Tax Return and Pay Corporate Tax Liability before 31 December 2024 shall attract a penalty of AED 500 for each month for the first twelve months and AED 1,000 for each month from the thirteenth month onwards.
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Bijal
Bijal is a legal and tax compliance expert with over five years of experience in the UAE. She specializes in indirect tax reviews, corporate tax, and company secretarial compliance for multinational corporations. Bijal excels in preparing management accounts and securing UAE tax residency certificates. Currently focused on the proposed UAE Corporate Tax framework, she provides strategic advice for corporate restructuring and cross-border transactions, making her an essential resource for businesses navigating UAE Corporate Tax.
