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Federal Tax Authority receives businesses’ VAT returns for tax period ending May
The Federal Tax Authority, FTA, announced that it has started receiving tax returns for the tax period ending 31st May, 2018, from businesses registered for Value Added Tax, VAT.
These returns were submitted via the e-Services portal on the authority’s official website, which enables easy and accurate tax submissions.
In a press statement issued on Monday, the FTA reaffirmed that 28th June is the deadline for the submission of tax returns for the tax period ending on 31st May, 2018, calling on all registered businesses to comply with the requirement and settle their payable taxes within the specified period to ensure payment with the FTA before 28th June to avoid financial penalties.
Khalid Ali Al Bustani, Director-General of the FTA, said that the authority has simplified the procedures of submitting the returns and paying due taxes through the electronic services available on the FTA’s official website, which was designed according to the best international standards. The site provides various flexible payment options and is the ideal tool to help businesses comply with tax deadlines, he added.
Al Bustani stressed the need to check the accuracy of all data entered during the submission process and to ensure that the amount owed is transferred to the correct GIBAN number. He added that the responsibility of ensuring that the transfer is made to the correct number is that of the taxable person. He reiterated that the authority is not responsible for following up on the transfer.