The FTA published Federal Tax Authority Decision No. 7 of 2024 on on the Postponement of the Deadline to File a Tax Return and Settle the Corporate Tax Payable for Certain Tax Periods for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses.
According to the Decision, the deadline for paying corporate tax and filing a tax return for short tax periods is postponed from September 30, 2024 to December 31, 2024. Short tax periods cover periods that are shorter than the standard 12-month period.
The following conditions must be met for the period to be postponed:
- the taxable person is incorporated, established, or registered after June 1, 2023;
- the taxable person's tax period ended before February 29, 2024.
For example, if a company was incorporated on June 10, 2023 and its financial year lasts from January 1 to December 31, 2023, then the company's first tax period is considered to be from June 10, 2023 to December 31, 2023 and it is short. Prior to the issuance of the Decision, the company was required to file a tax return and pay the tax by September 30, 202...