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FTA urges businesses to pay up VAT dues urgently – Non-compliance will result in penalties
Federal Tax Authority (FTA) on Wednesday urged all UAE businesses registered for Value Added Tax (VAT) who missed the deadline for filing their tax returns to pay their tax dues immediately.
“Respecting the deadline to file tax returns and pay due taxes is a legal responsibility borne by the registered tax person,” FTA said in an advertisement.
In case of non-compliance with tax payments on deadlines, businesses will be required to pay the estimated taxes along with administrative penalties.
Violations include the failure of tax registrants to submit the tax return within the timeframe specified in tax law and failure of tax person to settle the payable tax stated in the submitted tax return or tax assessment that was notified.