UAE FTA Grace Period Ends Soon: Update Your Tax Records Before the Deadline

Starting from 1st January 2024 and running through to 31 March 2025, businesses will have the opportunity to correct any issues with their tax filings without facing late penalties. 

 

Normally, businesses must report these changes to the FTA within 20 business days. If they fail to do so, companies could face penalties of up to AED 10,000 per violation. 

 

However, with the new grace period, businesses have the opportunity to make corrections and report any updates without the worry of facing penalties during this time. If you’ve missed a filing deadline or need to amend any details, now is the time to do it without facing hefty fines. 

 

The corporate tax landscape in the UAE is evolving, and staying compliant with regulations is key to ensuring your business runs smoothly. 

With the new grace period, businesses have the flexibility to address any outstanding issues and remain in good standing with the FTA. 

 

 

1. Log in to your FTA portal 

 

2. Review and update your tax records- take a closer look at your tax filings and ensure all the details are correct. If there are discrepancies, now is the time to fix them. 

 

3. Report Any Changes: If there have been any changes to your business structure or contact details (such as a change of manager or business address), make sure to report them to the FTA. 

 

4. Ensure all information is accurate before the 31 March 2025 deadline. 

 

 

We provide proactive, year-round support to our clients to help them operate more efficiently and secure a stronger financial future. 

 

If you have any queries about any of the information in this article, please contact a member of the team to see how we can help. 

 

Disclaimer: This article is for general information purposes only and is not intended to constitute individual advice. It is recommended that you seek independent professional advice.