The United Arab Emirates (UAE) has published Cabinet Decision No. (49) of 2021, which amends Cabinet Decision No. (40) of 2017 on Administrative Penalties for Violations of Tax Law in the UAE. The amendments have come in effect since 28 June 2021.After the amendments, VAT penalties and fines in UAE have been reduced substantially as compared to the previous legislation.
This guide compares the penalties that were applicable previously and the new penalties.
A thorough comparison of VAT Penalties and Fines in UAE, before and after Cabinet Decision No. (49) is presented along with the implications of the amendments to VAT Penalties and Fines in UAE.
These amendments marks a significant shift in VAT penalties and fines in UAE, now aiming to foster a more supportive environment for businesses. With such a reduction in penalties across various violations, the UAE tax authority seeks to encourage compliance and promote a culture of voluntary disclosure and accurate record-keeping. Explore the subject thoroughly with our comprehensive guide:
Guide on VAT Penalties and Fines in UAE
- October 2, 2024
