For short tax periods ending on or before February 29, 2024, the Federal Tax Authority (FTA) has announced extending the deadline for filing a tax return and settling corporate tax payable to December 31, 2024.
For the objectives of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its amendments, the FTA released Decision No. 7 of 2024 on the Postponement of the Deadline to File a Tax Return and Settle the Corporate Tax Payable for Certain Tax Periods.
The FTA’s Director-General, Khaled Ali Al Bustani, highlighted the organization’s commitment to helping all taxpayers by saying, “We are deeply committed to taking proactive measures that benefit taxpayers.” Since certain taxpayers may find it difficult to meet their corporate tax obligations, particularly for new businesses during their first tax periods, we have extended the deadline for filing tax returns and settling corporate tax payable. This is in recognition of the potential difficulties faced by businesses with a first corporate tax period that is shorter than a year.
“By providing a fair timeframe for taxpayers to fulfil their obligations, we hope to encourage accurate and timely tax filings and reduce undue pressure and potential administrative penalties,” he continued. This choice is a reflection of our continued efforts to create a welcoming.
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