“Federal Taxation”: 90 thousand registered businesses are obliged to submit their declarations and the payment of taxes by the maximum of 29 April

Media In – Abu Dhabi 22 April

The Federal Tax Authority revealed that the number of registered works of value added tax, which is obliged to submit its declarations and pay the taxes due on them by the maximum on the twenty-ninth of this month, is estimated at 90 thousand registered with the Commission, of which more than 85 thousand registered work ended their first quarterly periods by the end of March In addition to those whose monthly periods ended at the end of the same month.
Khalid Ali Al Bustani, Director General of the Federal Tax Authority, said: “The majority of the registered businesses are included in the quarterly tax periods within the SME segment.
He added: “The Authority is keen to streamline the procedures of filing tax returns and paying the taxes due to the registrants to encourage them to comply with the self-tax through a sophisticated electronic system through which the completion of procedures and payment of taxes due accurately and quickly in a few minutes to implement four steps through the electronic services portal of the Commission, To the tax if necessary, the use of tax agents accredited by the Commission and listed on the official site of the Authority.
The Authority explained that under Federal Law No. 8 of 2017 on Value Added Tax and its Implementing Regulations, the declaration must be submitted to the Authority no later than the 28th day after the end of the relevant tax period. In accordance with Federal Law No. 7 of 2017, Extend the time to the following business day if the last day of the day coincides with an official holiday.
Khalid Ali al-Bustani praised the level of commitment by the registered business sectors, which ended its monthly tax periods during the months of January and February last, stressing that the rate of commitment to submit declarations and pay taxes due on time was high either by companies or tax groups and is one of the highest rates in the world, The value added tax system was introduced in the UAE for the first time since the beginning of this year