Late Corporate Tax Registration - Exemption Initiative

The Federal Tax Authority (FTA) has launched an initiative to waive administrative penalties for businesses that failed to submit their corporate tax registration applications within the specified deadline. 

Exemption Conditions: 

– The Corporate Tax return for the first tax period or financial year must be submitted within 7 months from the end of that period/year. 

– The exemption also applies to certain Exempt Persons who are required to file an annual declaration. 

FTA Clarification: 

– If an administrative penalty was already paid but the taxpayer is eligible for the exemption, the penalty will be refunded. 

Don’t miss out on the opportunity to avoid penalties – act now!