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The Federal Tax Administration (FTA) has launched a facility to redetermine administrative penalties for tax violations for registered taxpayers to be 30% of the total outstanding administrative penalties not paid by June 28, 2021. I am asking you to take advantage of
The FTA has set deadlines for the facilities and taxpayers eligible to benefit from the decisions must complete all relevant formalities through the EmaraTax portal by December 31, 2022 to benefit from these facilities. emphasized that you must complete
The authorities announced that after the deadline, tax registrants with unpaid administrative penalties before June 28, 2021 will not be eligible to use the redetermination function and will pay fines in total instead of 30% of the fine. I explained that I needed it. If you meet the necessary conditions within the time limit set by the Cabinet Decision on Redefining Administrative Penalties for Tax Violations in the United Arab Emirates.
This decision outlined three conditions that must be met to benefit from the redefinition of administrative penalties imposed before 28 June 2021. First, the administrative penalty must be imposed on him before June 28, based on Cabinet Decision No. 40 of 2017. , 2021, and remains outstanding. Second, the tax registrant must settle all taxes due by December 31, 2022 and have no outstanding taxes by the end of 2022. Third, the tax registrant must have paid his 30% of the total outstanding administrative penalties imposed by 28 June. , 2021, at the latest by 31 December 2022.
Registrants can access the Amnesty Dashboard in their EmaraTax account and follow the process to make payments. By going to the EmaraTax payment screen, the registrant can select the administrative penalties she has not paid before June 28, 2021. Equivalent to 30% of such unpaid administrative penalties. If the required conditions are met, the new value of the fine will be equal to 30% of the total outstanding fines shown in the registrant’s account on the EmaraTax portal after December 31, 2022.
The federal tax authority said the cabinet decision was intended to help tax registrants meet their tax obligations and would require businesses to redetermine administrative penalties to be equal to 30% of total outstanding penalties. It aims to provide an excellent opportunity to support Conditions set in the decision.
The authorities explained that in order to ensure the smooth and correct implementation of the mechanism for re-determining administrative fines, interested parties can consult the general explanations issued on the decision on the FTA’s website. To redetermine administrative penalties imposed before June 28, 2021.
Corporate Tax General Recognition: The Ministry of Finance (MoF) launched the Corporate Tax General Recognition Program following the promulgation of federal legislation on the taxation of corporations and corporations.
The launch of the program was announced at a media briefing held today by the ministry to raise public awareness of corporate tax in the UAE and abroad.
This session was led by an expert group from the Ministry of Finance. Fatima Alsheikh, Director of the Department of Tax Policy and Legislation. Azza Ali Aljassmi, Deputy Director General of Government Communications. Rasha Soubhi Haj Hussein, tax policy and legal expert.
The ministry announced that the first corporate tax public awareness session will be held on 9 January in Abu Dhabi. More sessions will be held face-to-face in various emirates as well as virtually through awareness-raising digital platforms.
The program is designed to raise awareness of the UAE’s corporate tax law among the widest possible audience. Sessions are open to the public, but the primary audience includes chief financial officers, tax officers, tax administrators, legal advisers, attorneys, business owners, and his leaders in all areas of the business.
Corporate tax public awareness sessions, led by Treasury tax experts, will raise awareness, provide a credible platform for transparent discussion, and address questions and inquiries from various business sectors is designed to The session reflects the Ministry of Finance’s commitment to reaching out and educating the business sector on the key features of the UAE’s corporate tax system.
