Fiscal Policy

UAE Federal Tax Authority Implements Corporate Tax Late Registration Penalty Waiver Initiative

The UAE's Federal Tax Authority has launched a Corporate Tax Late Registration Penalty Waiver initiative that has already benefited over 68,600 businesses. This initiative is currently in effect due to the need to enhance compliance among taxable persons following the penalties incurred from June 1, 2023. Long-term, this move is expected to significantly increase compliance rates and improve the overall tax system in the UAE, fostering economic growth.