Latest news with #CabinetDecision
Hi Dubai
a day ago
- Business
- Hi Dubai
Federal Tax Authority Holds Dubai Workshop to Boost Corporate Tax Compliance
The Federal Tax Authority (FTA) hosted a high-attendance workshop in Dubai today as part of its national campaign to boost awareness and compliance with the UAE's Corporate Tax Law. Nearly 940 representatives from businesses, government entities and key stakeholders participated in the session titled 'Rules for Determining Income Subject to Corporate Tax' . The workshop focused on the general principles of corporate tax, clarifying how income is determined, reported, and taxed under the law that came into effect two years ago. The event is part of a broader initiative by the FTA to promote voluntary compliance and ensure that taxpayers are well-informed about their obligations. Six more in-person workshops are scheduled across the country before the end of 2025, alongside a range of virtual and physical sessions covering all seven emirates. The FTA also reiterated its call for eligible businesses and exempt persons required to register to submit their corporate tax returns within seven months from the end of their first tax period. Doing so would allow them to benefit from the UAE Cabinet Decision that waives administrative penalties for late registrations, provided submissions are made within the specified legal window. Topics discussed included accounting standards, accrual-based income recognition, and definitions of financial elements in line with IFRS. Attendees also received guidance on registration procedures via the EmaraTax platform and criteria for determining taxable persons, applicable rates, and filing deadlines. The FTA confirmed that the campaign, launched in phases since 2024, aims to simplify access to tax information, enhance clarity, and support the business community in complying efficiently with the corporate tax framework. News Source: Emirates News Agency
Hi Dubai
07-05-2025
- Business
- Hi Dubai
FTA Begins Exempting Corporate Taxpayers from Late Registration Penalties
The Federal Tax Authority (FTA) has started implementing a new UAE Cabinet Decision that exempts certain corporate taxpayers from administrative penalties linked to late registration—provided they meet specific submission deadlines. The move is part of a broader push to support voluntary tax compliance and streamline registration processes. Under the exemption, eligible businesses must submit their first corporate tax return or annual declaration within seven months of the end of their initial tax period or financial year—shorter than the previous nine-month window. This requirement applies regardless of whether the original deadline was before or after the decision took effect. The FTA clarified that those who already paid late submission penalties but meet the exemption criteria will receive refunds credited to their accounts. Similarly, taxpayers who filed returns before the decision's implementation and were penalised will also be reimbursed. Khalid Ali Al Bustani, Director-General of the FTA, urged unregistered businesses to register promptly via EmaraTax and take advantage of the penalty waiver. He emphasised the FTA's commitment to transparency and flexibility in line with evolving tax regulations, adding that compliance plays a critical role in supporting national economic growth. More than 543,000 corporate tax registrations have been recorded as of Q1 2025, reflecting increased awareness among businesses. The FTA said it will continue to engage with the private sector to provide guidance and address challenges in meeting tax obligations. The exemption applies to all taxable entities—whether they have registered late, paid the penalty, or not registered yet—provided they submit their tax returns within the specified seven-month window. Businesses are encouraged to review the relevant laws and guidelines available on the FTA's official website. News Source: Emirates News Agency
Al Etihad
07-05-2025
- Business
- Al Etihad
FTA to waive penalty for late corporate tax registration
7 May 2025 15:50 ABU DHABI (WAM)The Federal Tax Authority (FTA) announced on Wednesday the implementation of the UAE Cabinet Decision to exempt certain corporate taxpayers from administrative penalties resulting from the late submission of registration applications, within the specified qualify for the waiver of the penalty, the taxable person (or exempted categories) must submit their Tax Return (or Annual Declaration) within a period not exceeding seven (7) months from the end of their first Tax Period (or first Financial Year), instead of nine months, according to the FTA. The FTA further stated that the exceptional condition for benefiting from the exemption by submitting the tax return (or the annual declaration) within a period not exceeding seven (7) months from the end of the tax period, applies only to the first tax period of the taxable person (or the exempt person required to register). This is regardless of whether the due date for submitting the first tax return (or first annual declaration) falls before or after the implementation of the new Authority added that if a taxable person has paid the administrative penalty for late submission of the corporate tax registration application and meets the conditions for benefiting from the exemption, the paid penalty will be refunded, and the amount will be credited to the taxable person's account with the registered persons who submitted their tax returns before the implementation of the exemption decision and were subject to a late submission penalty will also be exempted, and any penalties already paid will be credited back to their accounts with the on the announcement, Khalid Ali Al Bustani, Director-General of the FTA, called on all unregistered corporate taxpayers to expedite the submission of corporate tax registration applications and tax returns via EmaraTax. He added that submissions should be made within the period specified by the Cabinet Decision to take advantage of the to the Cabinet Decision, FTA's core strategy has been structured around expediting tax procedures for all business sectors and to encourage voluntary compliance with tax laws.'Widespread compliance is a key and contributing element in promoting economic growth and the FTA remains committed to full transparency in relation to a flexible and constantly updating tax legislative environment,' he the high turnout of corporate tax registrations during the first quarter of 2025, he also revealed that the number of corporate tax registrations now exceeded 543,000. This reflects the growing awareness among business sectors of the importance of complying with tax procedures.'The FTA is keen to continue communicating with all categories of business sectors through various awareness channels to help familiarise them with compliance procedures, explore their views, and formulate methods to overcome any challenges they may face,' he the cases to which the exemption applies and how to benefit from the initiative, the FTA explained that, in general, the exemption applies to all persons subject to registration for corporate tax, regardless of whether the taxpayer applied for registration and was subject to an administrative fine for delaying registration within the specified deadline, or did not apply for registration. The legal conditions for exemption are: * If the taxpayer (or exempt person required to register) has been registered, but has been charged a late penalty and has not paid it, he or she must file the return (or annual return) within seven (7) months of the end of the first tax period (or first Financial Year) in order to be exempt from the delay penalty.* If a taxpayer (or an exempt person who is required to register) has been registered, a late penalty has been imposed and paid, the taxpayer must file the return (or annual return) within seven (7) months of the end of the first tax period to be exempt from the late penalty. The amount paid will then be refunded to the taxpayer's account.* If a taxpayer's registration application has not been submitted. In that case, the taxpayer (or exempt person required to register) must expedite the registration application and then submit the tax return (or annual declaration) within seven (7) months of the end of the first tax period or first financial year to be exempt from the late penalty. The FTA encourages those subject to corporate tax to familiarise themselves with the Corporate Tax Law, Cabinet Decisions and Guidelines on the Law through the FTA's website at the following link:
Mid East Info
07-05-2025
- Business
- Mid East Info
Federal Tax Authority to waive penalty for late corporate tax registration - Middle East Business News and Information
Continuous support for businesses is encouraging greater voluntary compliance with tax legislation UAE, Abu Dhabi – May 2025: The Federal Tax Authority has today announced that it has begun implementing the UAE Cabinet Decision to exempt certain corporate taxpayers from administrative penalties resulting from the late submission of registration applications, within the specified deadline. To qualify for the waiver of the penalty, the taxable person (or exempted categories) must submit their Tax Return (or Annual Declaration) within a period not exceeding seven (7) months from the end of their first Tax Period (or first Financial Year), instead of nine months. The FTA further clarified that the exceptional condition for benefiting from the exemption by submitting the tax return (or the annual declaration) within a period not exceeding seven (7) months from the end of the tax period, applies only to the first tax period of the taxable person (or the exempt person required to register). This is regardless of whether the due date for submitting the first tax return (or first annual declaration) falls before or after the implementation of the new decision. The Authority added that if a taxable person has paid the administrative penalty for late submission of the corporate tax registration application and meets the conditions for benefiting from the exemption, the paid penalty will be refunded, and the amount will be credited to the taxable person's account with the Authority. Likewise, registered persons who submitted their tax returns before the implementation of the exemption decision and were subject to a late submission penalty will also be exempted, and any penalties already paid will be credited back to their accounts with the Authority. Commenting on the announcement, H.E. Khalid Ali Al Bustani, Director-General of the FTA, called on all unregistered corporate taxpayers to expedite the submission of corporate tax registration applications and tax returns via EmaraTax. He added that submissions should be made within the period specified by the Cabinet Decision to take advantage of the exemption. Aligned to the Cabinet Decision, FTA's core strategy has been structured around expediting tax procedures for all business sectors and to encourage voluntary compliance with tax laws. 'Widespread compliance is a key and contributing element in promoting economic growth and the FTA remains committed to full transparency in relation to a flexible and constantly updating tax legislative environment,' His Excellency said. Praising the high turnout of corporate tax registrations during the first quarter of 2025, His Excellency also revealed that the number of corporate tax registrations now exceeded 543,000. This reflects the growing awareness among business sectors of the importance of complying with tax procedures. 'The FTA is keen to continue communicating with all categories of business sectors through various awareness channels to help familiarise them with compliance procedures, explore their views, and formulate methods to overcome any challenges they may face,' His Excellency added. Benefiting from the exemption: Regarding the cases to which the exemption applies and how to benefit from the initiative, the FTA explained that, in general, the exemption applies to all persons subject to registration for corporate tax, regardless of whether the taxpayer applied for registration and was subject to an administrative fine for delaying registration within the specified deadline, or did not apply for registration. The legal conditions for exemption are: If the taxpayer (or exempt person required to register) has been registered, but has been charged a late penalty and has not paid it, he or she must file the return (or annual return) within seven (7) months of the end of the first tax period (or first Financial Year) in order to be exempt from the delay penalty. If a taxpayer (or an exempt person who is required to register) has been registered, a late penalty has been imposed and paid, the taxpayer must file the return (or annual return) within seven (7) months of the end of the first tax period to be exempt from the late penalty. The amount paid will then be refunded to the taxpayer's account. If a taxpayer's registration application has not been submitted. In that case, the taxpayer (or exempt person required to register) must expedite the registration application and then submit the tax return (or annual declaration) within seven (7) months of the end of the first tax period or first financial year to be exempt from the late penalty.
Iraqi News
03-05-2025
- Health
- Iraqi News
PM: Approving allocation of serviced residential plots to medical and health personnel
In recognition of the efforts of Iraq's medical and health personnel during the COVID-19 pandemic, PM Muhammed S. Al-Sudani approved on Saturday the allocation of serviced residential plots to this professional community in Baghdad and the provinces. "This is based on Decision No. 34 of 2020 issued by the Higher Committee for Health and National Safety, which in its first clause instructed the relevant authorities to allocate serviced residential plots exclusively to healthcare workers who were in direct contact with COVID-19 patients," according to the PM's media office statement - received by the Iraqi News Agency - INA. The Ministry of Health is instructed to prepare lists from all health directorates in Baghdad and the provinces of those eligible under Cabinet Decision No. 31 of 2020, after removing the names of those who have already received plots. The Directorate of Municipalities at the Ministry of Construction, Housing, Municipalities, and Public Works has been directed to request from provincial municipality departments the names of those who have already been allocated residential plots. Provincial municipalities have also been instructed to prioritize the distribution of serviced residential plots to the eligible medical and health personnel covered by the Cabinet Decision.
