The UAE will waive administrative penalties for corporate tax payers who failed to submit their registration applications in time, as part of efforts to boost tax compliance and support businesses.
The Ministry of Finance and the Federal Tax Authority said on Tuesday that a Cabinet decision has been issued to make the change.
To qualify, companies must file their tax return or annual statements within seven months from the end of their first tax period, as stipulated under the Corporate Tax Law, a statement said.
The FTA also confirmed that procedures will be put in place to refund administrative fines collected from those who meet the specified criteria.
The decision is aimed at enhancing tax compliance, enabling procedures and easing financial burdens on businesses.
It is also expected to “significantly support” the UAE’s efforts to ensure better compliance during the first year of corporate tax implementation, the ministry and FTA said.
"This is superb news. While penalties exist to drive good compliance behaviour, the regulatory authorities are recognising businesses' burden with the launching of many new regimes where there was little before 2018," said David Daly, partner at the Gulf Tax Accounting Group in the UAE.
"It can be very confusing trying to navigate new laws, more so when it often comes in part from multiple sources."
However, details will be needed to understand under what specific circumstances will appeals be successful and what burden of proof will be required to clear those hurdles, he added.
The UAE introduced the federal corporate tax at a standard statutory rate of 9 per cent from the financial year beginning on or after June 1, 2023.
It brought the income of companies exceeding Dh375,000 ($102,110) within the taxable bracket. Taxable profits below that level are subject to a tax of zero per cent.
The Ministry of Finance also confirmed later that business owners in the country would be subject to corporate tax only if their turnover in a calendar year exceeds Dh1 million, ensuring that only business or business-related activity income is taxed.
Starting this year, the UAE has also imposed a new tax on large companies in the country as part of changes to its corporate tax law. Large multinational enterprises are to pay a minimum of 15 per cent tax on the profits generated in the country – up from the rate of 9 per cent – effective for financial years starting on or after January 1, 2025, the Ministry of Finance said at the time.
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Creator: Mike White
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Rating: 4.5/5
THURSDAY'S ORDER OF PLAY
Centre Court
Starting at 10am:
Lucrezia Stefanini v Elena Rybakina (6)
Aryna Sabalenka (4) v Polona Hercog
Sofia Kenin (1) v Zhaoxuan Yan
Kristina Mladenovic v Garbine Muguruza (5)
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Court 1
Starting at 10am:
Sara Sorribes Tormo v Nadia Podoroska
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Elise Mertens (7) v Alize Cornet
Tamara Zidansek v Jennifer Brady (11)
Heather Watson v Jodie Burrage
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Court 2
Starting at 10am:
Arantxa Rus v Xiyu Wang
Maria Kostyuk v Lucie Hradecka
Karolina Muchova v Danka Kovinic
Cori Gauff v Ulrikke Eikeri
Mona Barthel v Anastasia Gasanova
Court 3
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Aliaksandra Sasnovich v Anna Bondar
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THE CLOWN OF GAZA
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
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Winner Almanaara, Dane O’Neill, Doug Watson.
7.40pm Handicap (TB) $175,000 (D) 1,900m
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8.15pm Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
Winner Major Partnership, Patrick Cosgrave, Saeed bin Suroor.
8.50pm Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
Winner Gladiator King, Mickael Barzalona, Satish Seemar.
9.25pm Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
Winner Universal Order, Richard Mullen, David Simcock.
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Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
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1. Lewis Hamilton, Mercedes 306
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Maestro
Zayed Sustainability Prize
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Benefits of first-time home buyers' scheme
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Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
SNAPSHOT
While Huawei did launch the first smartphone with a 50MP image sensor in its P40 series in 2020, Oppo in 2014 introduced the Find 7, which was capable of taking 50MP images: this was done using a combination of a 13MP sensor and software that resulted in shots seemingly taken from a 50MP camera.
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Central%20Bank's%20push%20for%20a%20robust%20financial%20infrastructure
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If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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Torque: 350Nm
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Company%20profile
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Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
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- Technology expert in robotics and automation: Dh20,000 to Dh40,000
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part three: the age of the electric vehicle begins
Read part two: how climate change drove the race for an alternative
Read part one: how cars came to the UAE
