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Administrative Penalties for Corporate Tax Law Violation

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Administrative Penalties for Corporate Tax Law Violation

Corporate Tax
The Ministry of Finance has announced the issuance of Cabinet Decision No. (75) of 2023, regarding administrative penalties for violations related to the Federal Decree-Law No. 47 of 2022 on the taxation of corporations and businesses. This decision defines the penalties that will be imposed for violations of the corporate tax law, effective as of August 1, 2023.

For more info, please visit the Ministry’s website: https://mof.gov.ae/tax-legislation/




List of Administrative Penalties for Corporate Tax Law Violation starting August 1st 2023:

  • Penalties applicable on Taxable Persons, whether an individual or a legal entity, in case of failure to comply with their obligations under the UAE Corporate Tax Law
  • Penalties applicable in case of failure to submit the tax return within the specified timeframe
  • New structure to be introduced for voluntary disclosure penalties
  • Penalties applicable in case of failure of the Registrant to inform the Federal Tax Authority of any case that may require the amendment of the information pertaining to his Tax record kept by the Federal Tax Authority

SOURCE: MOF UAE

 

Table of Violations and Administrative Penalties Annexed to Cabinet Decision No. (75) of 2023 on Violations Related to the Application of Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses

 

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