DUBAI : The UAE Ministry of Finance and the Federal Tax Authority (FTA) have unveiled a new initiative aimed at easing the first-year transition into the corporate tax regime. Under the scheme, businesses and certain exempt entities that missed the registration deadline can now avoid late penalties — provided they submit their corporate tax returns or annual statements within seven months from the end of their first tax period, as outlined by the Corporate Tax Law.
In addition to waiving future penalties, the FTA has confirmed it will refund fines already paid by businesses that meet the waiver criteria.
Officials stated that the move reflects the UAE’s broader commitment to supporting businesses, reducing financial burdens, and encouraging early voluntary compliance.
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