UAE Corporate Tax: Ministry of Finance to impose Dh10,000 penalty on companies for late registration

 Abu Dhabi: The Ministry of Finance announced on Tuesday that companies failing to register for UAE Corporate Tax within the specified timelines will face an administrative penalty of Dh10,000. The penalty is applicable to businesses that do not submit their Corporate Tax registration applications as outlined by the Federal Tax Authority, as per the Ministry's statement.

The introduction of this penalty aims to promote taxpayer compliance with tax regulations by ensuring timely registration for corporate tax.

"The penalty amount for late tax registration is aligned with the penalty associated with late registration for excise tax and value-added tax (VAT)," stated the announcement.

The Ministry of Finance disclosed the issuance of Cabinet Decision No. 10 of 2024, amending the schedule of violations and administrative penalties outlined in Cabinet Decision No. 75 of 2023. This amendment pertains to administrative penalties for violations related to the application of Federal Decree-Law No. 47 of 2022 on the taxation of corporations and businesses. Cabinet Decision No. 10 of 2024 is scheduled to take effect on March 1, 2024.

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