ABU DHABI: The Federal Tax Authority, FTA, has urged businesses to benefit from the registration penalties waiver until 30th April, clarifying that the decision only covers late registration penalties and that taxable businesses are still required to settle all the taxes due from 1st January 2018.
In a statement, the FTA Director-General, Khalid Ali Al Bustani, called on businesses to benefit from this extension granted by the Authority and approved by the Board of Directors’, which takes into account the lack of readiness among businesses when value added tax, VAT, first went into effect.
“The decision reflects the Authority’s commitment to guiding taxable persons and ensuring their full compliance to avoid administrative penalties,” he explained, urging businesses to register immediately to avoid missing the 30th April deadline.According to Federal Decree-Law No. 08 of 2017 on Value Added Tax, as well as its Executive Regulations, taxable persons are required to retroactively settle the taxes due since the law went into effect on 1st January 2018.
