A new Dh10,000 fine was announced by the Ministry of Finance on Tuesday for late corporate tax registration. The purpose of the penalty was to incentivize taxpayers to adhere to tax laws and register in a timely manner. The excise tax and value-added tax penalties for late registration correlate with the penalty amount for late tax registration.
Cabinet Decision No. 10 of 2024, which was made public today, modifies Cabinet Decision No. 75 of 2023’s schedule of infractions and administrative fines.
The latter detailed the administrative penalties that would be levied for infractions pertaining to the execution of the Corporate Tax Law by the Federal Tax Authority (FTA). These fines became operative on August 1, 2023.
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