The Federal Tax Authority (FTA) has extended the deadline for filing tax returns and settling corporate tax to December 31, 2024.
This extension will be applicable to businesses with short tax periods ending on or before February 29, 2024, the FTA has said. This includes companies incorporated, established, or recognized on or after June 1, 2023, with financial years ending by the specified date.
“We are deeply committed to taking proactive measures that benefit taxpayers,” said Khaled Ali Al Bustani, Director-General of the FTA. “Our goal is to encourage timely and accurate tax filings by offering a reasonable timeframe for taxpayers to fulfil their obligations, thereby alleviating undue pressure and potential administrative penalties. This Decision reflects our ongoing commitment to fostering a supportive and equitable tax environment in the UAE that encourages timely compliance while minimising tax burdens.”
For instance, a company incorporated on June 10, 2023, with a financial year from January 1 to December 31, would have initially been required to file its tax return and settle corporate tax payable by September 30, 2024. Under the new Decision, the deadline is now extended to December 31, 2024.
FTA Decision No. 7 of 2024, issued under Federal Decree-Law No. 47 of 2022, addresses the taxation of corporations and businesses.
