Last day: UAE firms race to file tax returns to avoid Dh10,000 penalty

Waiver on late sign-up penalty contingent on filing returns by July 31

- BY MANOJ NAIR Business Editor

UAE businesses penalised for late corporate tax registration are in a “last-minute rush” to file their 2024 tax returns before the July 31 deadline.

This deadline was set by the Federal Tax Authority (FTA) to allow these businesses to qualify for a waiver of the Dh10,000 late registration penalty.

"Some companies that registered at the last minute are still awaiting approval on their registration to file the tax returns and benefit from the penalty waiver," said Sumayya Zain, founder of Hallmark International Auditors.