Latest news with #FederalTaxAuthority
Arabian Business
21 hours ago
- Business
- Arabian Business
UAE Corporate Tax: Businesses must register July 31 or face $2,723 penalty
The Federal Tax Authority (FTA) has renewed its call for Corporate Tax registrants who have not yet registered to submit their registration applications, stating that filing their first Tax Returns through the 'EmaraTax' digital tax services platform will enable them to benefit from the Penalty Waiver Initiative for Late Corporate Tax Registration. The initiative applies to Corporate Taxpayers and certain exempt persons who are required to register with the FTA. In a press release issued today, the FTA revealed that as of today, the number of beneficiaries from the Penalty Waiver Initiative for Late Corporate Tax Registration has reached more than 33,900. Register for Corporate Tax by July The FTA indicated that Thursday, July 31, will be the final deadline to benefit from the initiative for the majority of Corporate Tax payers whose first Tax Period aligns with the calendar year from January 1 to December 31, 2024. To qualify, they must complete all procedures related to submitting their registration applications and filing their Corporate Tax Returns through the 'EmaraTax' platform before the end of July 2025. The FTA confirmed that failure to meet the requirements and completing the procedures by July 31 will result in ineligibility for the waiver and the imposition of a late registration penalty of AED 10,000 for non-registered persons. The authority clarified that to be exempt from the late registration penalty, the taxable person or exempt person required to register must submit their Corporate Tax Return or annual declaration within a period not exceeding seven months from the end date of their first Tax Period or financial year, instead of the standard nine-month deadline. The FTA emphasised that the Penalty Waiver Initiative applies only to the first Tax Period of the taxable person or exempt persons who are required to register with the FTA. The FTA issued a public clarification on the Waiver Initiative, which can be accessed through the link 'Waiver of Administrative Penalty for Failure to File Corporate Tax Registration within the Prescribed Period.' The public clarification includes a detailed explanation of the conditions to benefit from the waiver of the Late Registration Penalty, as well as the refund mechanism in cases where a penalty has already been paid. The document provides examples of how to benefit from the initiative in different scenarios. The public clarification provides an explanation for those eligible to benefit from the initiative, as well as certain exempt persons who are required to register for Corporate Tax. Within the clarification, the FTA highlighted that if the Person within the scope of this initiative meets the conditions to benefit from the waiver – namely, filing the Tax Return within seven months from the end of the first Tax Period or filing an annual declaration within seven months from the end of its first Financial Year – they will be exempt from the 'Late Registration Penalty' automatically without the need to submit a Reconsideration or Penalty Waiver request. In case the Late Registration Penalty has already been paid, the amount of AED 10,000 shall be automatically credited to that Person's 'EmaraTax' Corporate Tax account, which enables them to use the amount to settle other tax obligations or request a refund from the FTA by submitting a refund application.
Gulf Insider
21 hours ago
- Business
- Gulf Insider
UAE Corporate Tax: Businesses Must Register July 31 Or Face $2,723 Penalty
The Federal Tax Authority (FTA) has renewed its call for Corporate Tax registrants who have not yet registered to submit their registration applications, stating that filing their first Tax Returns through the 'EmaraTax' digital tax services platform will enable them to benefit from the Penalty Waiver Initiative for Late Corporate Tax Registration. The initiative applies to Corporate Taxpayers and certain exempt persons who are required to register with the FTA. In a press release issued today, the FTA revealed that as of today, the number of beneficiaries from the Penalty Waiver Initiative for Late Corporate Tax Registration has reached more than 33,900. The FTA indicated that Thursday, July 31, will be the final deadline to benefit from the initiative for the majority of Corporate Tax payers whose first Tax Period aligns with the calendar year from January 1 to December 31, 2024. To qualify, they must complete all procedures related to submitting their registration applications and filing their Corporate Tax Returns through the 'EmaraTax' platform before the end of July 2025. The FTA confirmed that failure to meet the requirements and completing the procedures by July 31 will result in ineligibility for the waiver and the imposition of a late registration penalty of AED 10,000 for non-registered persons. The authority clarified that to be exempt from the late registration penalty, the taxable person or exempt person required to register must submit their Corporate Tax Return or annual declaration within a period not exceeding seven months from the end date of their first Tax Period or financial year, instead of the standard nine-month deadline. The FTA emphasised that the Penalty Waiver Initiative applies only to the first Tax Period of the taxable person or exempt persons who are required to register with the FTA. The FTA issued a public clarification on the Waiver Initiative, which can be accessed through the link 'Waiver of Administrative Penalty for Failure to File Corporate Tax Registration within the Prescribed Period.' The public clarification includes a detailed explanation of the conditions to benefit from the waiver of the Late Registration Penalty, as well as the refund mechanism in cases where a penalty has already been paid. The document provides examples of how to benefit from the initiative in different scenarios. The public clarification provides an explanation for those eligible to benefit from the initiative, as well as certain exempt persons who are required to register for Corporate Tax. Within the clarification, the FTA highlighted that if the Person within the scope of this initiative meets the conditions to benefit from the waiver – namely, filing the Tax Return within seven months from the end of the first Tax Period or filing an annual declaration within seven months from the end of its first Financial Year – they will be exempt from the 'Late Registration Penalty' automatically without the need to submit a Reconsideration or Penalty Waiver request. In case the Late Registration Penalty has already been paid, the amount of AED 10,000 shall be automatically credited to that Person's 'EmaraTax' Corporate Tax account, which enables them to use the amount to settle other tax obligations or request a refund from the FTA by submitting a refund application.
Al Etihad
a day ago
- Business
- Al Etihad
FTA: Over 33.9 thousand beneficiaries from Corporate Tax Late Registration Penalty Waiver Initiative
29 July 2025 15:29 ABU DHABI (WAM)The Federal Tax Authority (FTA) has renewed its call for Corporate Tax registrants who have not yet registered to promptly submit their registration applications, highlighting that by filing their first Tax Returns for the tax period through the 'EmaraTax' digital tax services platform, they can benefit from the Penalty Waiver Initiative for Late Corporate Tax applies to Corporate Taxpayers and certain exempt persons who are required to register with the a press release issued on Tuesday, the FTA revealed that as of today, the number of beneficiaries from the Penalty Waiver Initiative for Late Corporate Tax Registration has reached more than 33.9 FTA indicated that Thursday, July 31, will be the final deadline to benefit from the initiative for the majority of Corporate Tax payers whose first Tax Period aligns with the calendar year from 1st January to December 31, 2024. To qualify, they must complete all procedures related to submitting their registration applications and filing their Corporate Tax Returns through the 'EmaraTax' platform before the end of July FTA also confirmed that failure to meet the requirements and complete the necessary procedures by July 31 will result in ineligibility for the waiver and the imposition of a late registration penalty of Dh10,000 for non-registered was further clarified that, to be exempt from the late registration penalty, the taxable person (or the exempt person required to register) must submit their Corporate Tax Return (or annual declaration) within a period not exceeding seven months from the end date of their first Tax Period (or financial year), instead of the standard nine-month deadline. The FTA also emphasised that the Penalty Waiver Initiative applies only to the first Tax Period of the taxable person (or exempt persons who are required to register with the FTA).The FTA issued a public clarification on the Waiver Initiative. This can be accessed by clicking the following link: Waiver of Administrative Penalty for Failure to File Corporate Tax Registration within the Prescribed public clarification includes a detailed explanation of the conditions to benefit from the waiver of the Late Registration Penalty, as well as the refund mechanism in cases where a penalty has already been paid. Illustrative examples of how to benefit from the initiative in different scenarios are also public clarification explains for those eligible to benefit from the initiative, as well as certain exempt persons who are required to register for Corporate the clarification, the FTA highlighted that if the Person within the scope of this initiative meets the conditions to benefit from the waiver (namely, filing the Tax Return within seven months from the end of the first Tax Period or files an annual declaration within seven months from the end of its first Financial Year) they will be exempt from the "Late Registration Penalty" automatically without the need to submit a Reconsideration or Penalty Waiver request. In case the Late Registration Penalty has already been paid, the amount of Dh10,000 shall be automatically credited to that Person's 'EmaraTax' Corporate Tax account, which enables them to use the amount to settle other tax obligations or request a refund from the FTA by submitting a refund application.
Zawya
a day ago
- Business
- Zawya
More than 33.9 thousand beneficiaries from Corporate Tax late registration penalty waiver initiative
Abu Dhabi, UAE – The Federal Tax Authority (FTA) has renewed its call for Corporate Tax registrants who have not yet registered to promptly submit their registration applications, highlighting that by filing their first Tax Returns for the tax period through the 'EmaraTax' digital tax services platform, thus they can benefit from the Penalty Waiver Initiative for Late Corporate Tax Registration. This applies to Corporate Taxpayers and certain exempt persons who are required to register with the FTA. In a press release issued today, the FTA revealed that as of today, the number of beneficiaries from the Penalty Waiver Initiative for Late Corporate Tax Registration has reached more than 33.9 thousand. The FTA indicated that Thursday, 31 July, will be the final deadline to benefit from the initiative for the majority of Corporate Tax payers whose first Tax Period aligns with the calendar year from 1 January to 31 December 2024. To qualify, they must complete all procedures related to submitting their registration applications and filing their Corporate Tax Returns through the 'EmaraTax' platform before the end of July 2025. The FTA also confirmed that failure to meet the requirements and completing the necessary procedures by 31 July will result in the ineligibility for the waiver and the imposition of a late registration penalty of AED 10,000 for non-registered persons. It was further clarified that, in order to be exempt from the late registration penalty, the taxable person (or the exempt person required to register) must submit their Corporate Tax Return (or annual declaration) within a period not exceeding seven months from the end date of their first Tax Period (or financial year), instead of the standard nine-month deadline. The FTA also emphasised that the Penalty Waiver Initiative applies only to the first Tax Period of the taxable person (or exempt persons who are required to register with the FTA). The FTA issued a public clarification on the Waiver Initiative. This can be accessed by clicking the following link: Waiver of Administrative Penalty for Failure to File Corporate Tax Registration within the Prescribed Period. The public clarification includes a detailed explanation of the conditions to benefit from the waiver of the Late Registration Penalty, as well as the refund mechanism in cases where a penalty has already been paid. Illustrative examples of how to benefit from the initiative in different scenarios are also provided. The public clarification provides an explanation for those eligible to benefit from the initiative, as well as certain exempt persons who are required to register for Corporate Tax. Within the clarification, the FTA highlighted that if the Person within the scope of this initiative meets the conditions to benefit from the waiver (namely, filing the Tax Return within seven months from the end of the first Tax Period or files an annual declaration within seven months from the end of its first Financial Year) they will be exempt from the "Late Registration Penalty" automatically without the need to submit a Reconsideration or Penalty Waiver request. In case the Late Registration Penalty has already been paid, the amount of AED 10,000 shall be automatically credited to that Person's 'EmaraTax' Corporate Tax account which enables them to use the amount to settle other tax obligations or request a refund from the FTA by submitting a refund application. -Ends- About Federal Tax Authority The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website:
Al Etihad
22-07-2025
- Health
- Al Etihad
UAE's sugar tax amendment lauded as key move against obesity, diabetes
MAYS IBRAHIM (ABU DHABI) The UAE's updated sugar tax is a step in the right direction toward curbing non-communicable diseases (NCDs) and improving public health, according to healthcare professionals. The Ministry of Finance and the Federal Tax Authority (FTA) recently announced a significant amendment to the excise tax on sugar-sweetened beverages (SSBs). Starting 2026, a new tiered volumetric model will link the tax directly to a drink's sugar content per 100ml, marking a shift from the previous system based solely on product classification. The policy could have a significant impact on public health, given the recorded obesity data in the country, said Archana Baju, Head of Department and Dietitian at Burjeel Hospital in Abu Dhabi. In a recent interview with Aletihad, she cited data from the Ministry of Health and Prevention (MoHAP), which showed that 27.8% of UAE adults were classified as obese in 2024. She pointed to sugar-sweetened beverages as a key factor behind this statistic. 'These drinks are frequent contributors to excess calorie intake, weight gain, insulin resistance, cardiovascular risk, and dental decay,' she said. 'Evidence states that a price increase typically reduces consumption, particularly among youth and low-income groups. Over time, decreased intake of SSBs contributes to lower obesity rates, reduced diabetes prevalence, and lowers cardiovascular disease burden.' Dr. Mervat Hussin, Endocrinology Consultant at Burjeel Hospital Abu Dhabi, explained how regularly consuming high-sugar beverages directly contributes to metabolic disorders such as diabetes and obesity. 'These beverages deliver large amounts of simple sugars, especially fructose and glucose, which are quickly absorbed into the bloodstream. The result is a rapid rise in blood sugar and insulin levels, followed by a crash — creating a cycle of cravings and overeating,' she told Aletihad. 'Since liquid sugar doesn't promote a sense of fullness the way solid food does, it's easy to overconsume calories without realising it.' Dr. Hussin highlighted that fructose adds a unique burden because it's mainly processed in the liver, where it promotes fat buildup (leading to non-alcoholic fatty liver disease); raises blood triglycerides levels; and hampers insulin's effectiveness. Over time, these effects drive insulin resistance, which is a key factor in the development of Type 2 diabetes, according to Dr. Hussin. She agreed that taxing sugar-sweetened beverages (SSBs) is a proven public health approach to discourage consumption by making these drinks less appealing. 'Countries that have implemented these measures have already reported a drop in sugary drink consumption. Over time, this helps reduce obesity rates and lowers the risk of chronic diseases like diabetes and cardiovascular disease.' Guide to Cutting Sugar On managing Type 2 diabetes and insulin resistance, Dr. Hussin noted the power of small, consistent lifestyle changes. 'Reducing added sugar, even without full dietary overhauls, often results in better blood sugar control, weight loss, and improved energy,' she explained. 'Patients with Type 2 diabetes or insulin resistance often experience lower fasting glucose levels and HbA1c readings within just a few months of adjusting their sugar intake.' However, Dr. Hussin advised that reducing sugar intake should be done gradually to avoid withdrawal symptoms —such as cravings, fatigue, headaches, and irritability — linked to sugar's impact on the brain's reward system. To support patients through the transition of reducing sugar intake, Dr. Hussin recommended staying hydrated; eating balanced meals rich in protein, healthy fats, and fibre; and phasing sugar out slowly rather than stopping abruptly. She also advised replacing refined sugars with natural options such as berries, dates, or apples, and encourages regular physical activity, which helps improve both mood and insulin sensitivity. 'These strategies help reduce withdrawal symptoms and increase the likelihood of long-term success. Patients often report feeling more energetic and more in control of their health,' Dr. Hussin said. The World Health Organization (WHO) and American Heart Association (AHA) recommend limiting added sugars to no more than six teaspoons (25g) per day for women and nine teaspoons (36g) per day for men. Baju explained that a typical 330ml can of cola contains about 35g of sugar (equivalent to nine teaspoons), which means that one serving nearly meets or exceeds the recommended daily limit. She suggested healthier alternatives, such as infused water, sparkling water with fruit, tender coconut water, fresh fruit and vegetable juices without added sugar, low-fat milk, laban, yoghurt, or plant-based drinks. 'These choices support hydration without contributing to excess energy intake, metabolic stress or long-term disease risk.'
