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90,000 registered businesses to submit tax returns, pay due taxes by end of April
The Federal Tax Authority, FTA, has revealed that approximately 90,000 businesses registered for Value Added Tax, VAT, are required to submit their tax returns and pay their taxes no later than 29th April 2018.
Over 85,000 of these companies had their first quarterly tax period end in March, while the remaining businesses saw their monthly periods end on the same date. In a statement issued today, the Authority renewed its call to all businesses registered for VAT to expedite the submission of their tax returns and pay their due taxes on time in order to avoid administrative penalties.
FTA Director-General, Khalid Ali Al Bustani, called on registrants to check their tax periods and the deadline for submitting tax returns and paying due taxes through the eServices portal on the FTA website. “Businesses whose tax periods ended on 31st March should submit their tax returns, and then pay their due taxes before the deadline specified by the Authority,” he explained, “The majority of registered businesses included in quarterly tax periods are small and medium enterprises,” Al Bustani said.
“The Authority sought to streamline the procedures of filing tax returns and paying taxes to encourage taxable persons to comply and carry out their transactions by themselves electronically to meet their tax obligations in mere minutes and with four simple steps. Taxable persons may, at any time, enlist assistance from the FTA-accredited tax agents listed on the website,” he added.