The Federal Tax Authority extended the deadline for VAT-registered businesses to submit their tax return as the Covid-19 stay-at-home directives continue to restrict movement in the UAE.
VAT registrants now have until May 28 to submit their return and pay the due tax for the period ending March 31, in an "exceptional" move. This applies both to companies that file tax returns monthly and quarterly.
Traditionally, tax returns must be submitted within 28 days of the end of the reporting quarter. When the 28th of the following month falls on either a Friday or Saturday, the deadline moves to the next working day.
“This exceptional directive for the deadline pertains only to VAT returns for the tax periods that ended on March 31, 2020, and does not affect any other tax periods where the deadline for filing tax returns and settling of payable taxes does not fall in April 2020,” the FTA said in a statement.
The authority added that the directive was issued in light of its “commitment to supporting VAT registrants and the unprecedented intensive precautionary measures undertaken by the UAE to curb the spread of the novel coronavirus".
Many countries around the world, including the Emirates, continue to enforce physical distancing and movement restrictions, including business closures, travel bans and stay-home directives, in a bid to stem the spread of the virus.
In Dubai, residents can only apply for a movement permit every three days to buy essentials or medicines or every five days for ATM cash withdrawals. To date, 7,755 cases of Covid-19 have been recorded in the UAE, according to Johns Hopkins University, and 1,443 have recovered.
The FTA said the extended tax return filing date aimed to help registrants “meet their tax obligations without facing any difficulties”.
The Authority said it now provides its full services remotely, relying on a fully automated electronic system that operates 24 hours a day for users to register, file tax returns and pay their taxes.
“The objective is to encourage registrants to comply with tax procedures, using the FTA’s online platform while avoiding direct physical interaction with relevant departments or the use of paper documents," the authority said.
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JOKE'S%20ON%20YOU
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
The five pillars of Islam
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Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
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The burning issue
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Towering concerns
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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Tomorrow 2021
The specs
Engine: 4.0-litre, six-cylinder
Transmission: six-speed manual
Power: 395bhp
Torque: 420Nm
Price: from Dh321,200
On sale: now
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
What is a calorie?
A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.
One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.
A kilocalorie represents a 1,000 true calories of energy.
Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.
Alcohol contains about seven calories a gram.
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Recipe: Spirulina Coconut Brothie
Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)
Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy.
Tomorrow 2021
Zayed Sustainability Prize
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
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Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
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Company%20profile
The burning issue
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THE DETAILS
Kaala
Dir: Pa. Ranjith
Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar
Rating: 1.5/5
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Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Simon Waldman: Cautious Israel keeping a low profile
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