Abu Dhabi's FTA Urges Businesses to File Corporate Tax by December 2024

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Abu Dhabi's FTA Urges Businesses to File Corporate Tax by December 2024

The Federal Tax Authority (FTA) in Abu Dhabi has reminded businesses to file their Corporate Tax returns and pay their dues within the legal timeframes. To support voluntary tax compliance, the FTA issued Decision (7) of 2024, extending the deadline to December 31, 2024, for tax periods ending on or before February 29, 2024. This includes periods ending in December 2023, January 2024, or February 2024.

The FTA emphasized the importance of meeting these deadlines to avoid penalties. Businesses must file their returns and pay taxes within nine months of their tax period's end, except for those with extended deadlines. Khalid Ali Al Bustani, Director-General of the FTA, highlighted the need for timely tax return submissions and assured continuous communication with businesses to address any challenges.

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Abu Dhabi

Abu Dhabi is the capital city of the United Arab Emirates (UAE), a country in the Middle East. It is known for its modern architecture and rich culture.

FTA

FTA stands for Federal Tax Authority. It is the government body in Abu Dhabi responsible for collecting taxes and ensuring that businesses follow tax laws.

Corporate Tax

Corporate Tax is a type of tax that businesses have to pay on their profits. It is similar to how individuals pay income tax on their earnings.

Tax Period

A tax period is a specific time frame for which businesses calculate and report their taxes. It usually lasts for a year, but can vary depending on the business.

Voluntary Tax Compliance

Voluntary Tax Compliance means that businesses are encouraged to follow tax rules and pay their taxes on time without being forced by the government.

Khalid Ali Al Bustani

Khalid Ali Al Bustani is the Director-General of the Federal Tax Authority in Abu Dhabi. He is responsible for overseeing tax collection and ensuring businesses comply with tax laws.