Media ININ Economy We Trust
MediaIn – Abu Dhabi 4 February
The Federal Tax Authority has invited the business sectors registered with the Authority within the value added tax system, whose first tax period ends at the end of January 2018, in order to prepare for submission of its declarations, indicating that these statements must be submitted to a maximum on 28th February 2018.
In a press release obtained by Media In, Khalid Ali Al Bustani, Director General of the TRA, confirmed the establishment of integrated technical systems that provide an electronic platform that enables taxpayers to register and deliver tax returns and pay the taxes due easily and with the aim of encouraging the voluntary compliance model and the role of business in the procedures of self-compliance.
He pointed out the importance of the early readiness to submit tax returns within the specified time periods for each tax period. He noted that all businesses registered in the value added tax system must submit their tax returns on a monthly or quarterly basis as determined by the Authority based on the size of annual revenues. In accordance, declarations specified by the authority under Federal Law no.8 of 2017 concerning Value Added Tax and its executive regulations will be submitted.
