CONDITIONS FOR CORPORATE TAX REGISTRATION PENALTY WAIVER -AED 10000 Have you received any administrative #penalty from the FTA totaling AED 10,000 for failing to register for corporate tax by the deadline? Or have you still not registered for corporate tax within the deadline that has already passed? If so, then we now have stronger backing and an initiative from the authority to dismiss or waive those penalties under a straightforward condition. What is that? The taxpayer is required to file tax returns or annual declarations within # 7 months from the end of their first tax period. For instance, if the tax period ends on 31st Dec 2024, then they need to finalize and submit the tax returns and annual declaration on or before July 2025. What is a tax period, and how can we identify it? This is the timeframe chosen during #registration, and it is stated clearly on the Corporate Tax Registration Certificate. The key point of this decision is that individuals who have not yet submitted their registration application can also take advantage of this benefit. We have two recommendations concerning this initiative: 1. Submit the Corporate Tax return and make the payment right away to avoid waiting until the last minute (i.e., before July 2025). 2. If you haven’t registered for Corporate Tax yet and the deadline has passed, you can still proceed with the registration now without any hold-up. For more details, contact Anil Kumar Auditing, Al Khabeesi Dubai and Clock Tower Sharjah. Our contact numbers: 0529010017, 06 5620 360 Check out our website: www.anilauditing.ae Stay tuned! #Corporate_tax_return #VAT_registration #AUDITING #ANILKUMAR_AUDITING #VAT #CORPORATE_TAX #ADS #SHIVANYA ANIL KUMAR #Penalty_waiver.