UAE Corporate Tax: Corporate Tax Return Filing Deadline Extended
For some entities, the Federal Tax Authority (FTA) of the United Arab Emirates has extended the deadline for filing corporate tax returns and making payments.
Federal tax authority updates that companies having short tax periods ending on or before February 29, 2024, can now file their returns and make payments by December 31, 2024.
Businesses with a fiscal year ending on or before February 29th, and founded, established, or recognized on or after June 1st, 2023, are subject to the decision. According to the FTA, these dates result in a shorter initial corporate tax period than the customary 12-month period.
UAE tax compliance becomes more and more important for organizations as the United Arab Emirates continues to adapt its tax system. Tax obligations that are not fulfilled may result in penalties, and fines. The extension no longer only provides more time for preparation but also highlights the importance of careful financial planning and consulting.
However, most organizations in the United Arab Emirates operate on a calendar 12-month basis, which means that their financial 12-months correspond to January through December's schedule. September 2025 may be the deadline for those organizations' tax return submissions related to their 2024 books of accounts.
Businesses are encouraged to research their monetary records, consult with tax professionals, and make sure that they’re completely organized to accomplish their responsibilities with the extended deadline. This approach will no longer only help individuals avoid mistakes, but it will also encourage a compliance-oriented regime, which is essential in today's complex regulatory landscape.
Business Tax Consultation In UAE
Chrysalis provides complimentary consultations for tax services. Our tax advisor will assist you in submitting your company's tax documents.
Let us assist you by offering support - Get in touch with us now!
Want to set up a business in the UAE? Calculate your business setup cost today!
#taxreturninuae #dubaitaxlaw #uae #dubai #corporatetaxindubai #taxreturnfiling #dubaitaxregulations #TaxfilingextensionbenefitsUAE #UAEfiscalyeartaxreturn2024