The UAE government has rolled out a relief initiative aimed at easing the burden on corporate taxpayers and certain exempt entities that missed the deadline to register for corporate tax.
The Ministry of Finance (MoF) and the Federal Tax Authority (FTA) announced that administrative penalties will be waived for those who submit their tax returns or annual declarations within seven months from the end of their first tax period, in line with the Corporate Tax Law.
Moreover, the FTA confirmed that fines already paid by qualifying entities will be refunded, providing further support for early-stage compliance.
The Cabinet’s move is seen as a major step in helping businesses transition smoothly into the country’s new corporate tax regime, particularly during its crucial first year.