The Federal Tax Authority (FTA) has announced a significant update that extends the deadline for the submission of corporate tax returns for specific tax periods. Originally due between 30 September 2024 and 30November 2024, businesses now have until 31 December 2024 to file their corporate tax (CT) returns and settle their payments. This extension follows the FTA’s Decision No. 7 of 2024, providing much-needed relief for businesses preparing their filings under the newly introduced CT regime.
This change impacts companies that began their tax period in June 2023, with the original submission deadline set for 30 September 2024. The EmaraTax portal, where tax returns are processed, has been updated to reflect this extension, although the tax certificates currently still show the earlier deadline. These will be adjusted in due course.
What Does This Mean for Businesses?
· Businesses now have until 31 December 2024 to submit their returns and make payments.
· This additional time helps businesses ensure compliance without the pressure of the earlier deadlines.
Next Steps for Companies
Companies are advised to:
· Regularly monitor the EmaraTax portal to ensure tax certificates are updated in line with the new deadline.
· In case of discrepancies or penalties due to system delays, businesses can submit a reconsideration request to the FTA, citing the extended deadline. Documentation of the FTA’s announcement will be essential in such cases.
This extension represents a proactive step by the FTA to support businesses during the initial stages of implementing the CT regime, and companies should take advantage of the additional time to ensure full compliance.
For more information or assistance, contact Alpadis.
