ABU DHABI: The Federal Tax Authority (FTA) has extended the deadline for filing Corporate Tax Returns and settling taxes to 31st December 2024. This applies to short Tax Periods ending on or before 29th February 2024.The FTA’s Decision No. 7 of 2024 aims to support businesses facing shorter tax periods, especially new businesses. Khaled Ali Al Bustani, FTA Director-General, emphasised the importance of assisting taxpayers and reducing potential administrative penalties by offering more time to file taxes accurately and on time.
The decision specifically affects businesses established on or after 1st June 2023, whose financial years end on or before 29th February 2024. For example, a company incorporated on 10th June 2023, with a financial year ending 31st December 2023, would previously have needed to file by 30th September 2024.
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Under the new rule, they now have until 31st December 2024.This extension aims to ease tax burdens and promote compliance by offering a more manageable timeframe for taxpayers to meet their obligations.
