DUBAI: The Federal Tax Authority (FTA) of UAE has extended the deadline to file a tax return and payments for some entities till December 31, 2024.
This new deadline applies to businesses, whose tax periods end on or before February 29, 2024, the tax authority said on Sunday.
According to the authority, the extension is aimed at facilitating those businesses that were formed, established, or recognized on or after June 1, 2023, and have a financial year ending on or before February 29.
As a result of these dates, their first corporate tax period is shorter than the usual 12-month period, the FTA said. The UAE introduced the federal corporate tax with a standard statutory rate of 9 percent starting from the financial year beginning on or after June 1, 2023.
Khaled Ali Al Bustani, Director General of the FTA, emphasised that the authority recognised “the potential challenges faced by businesses with first corporate tax periods shorter than a year, and postponed the deadline by which certain taxpayers must file their tax return and settle their corporate tax.”
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