What is the importance of adhering to compliance due dates? Adhering to compliance with due dates is crucial for businesses for several reasons. It helps businesses avoid penalties and legal actions that can arise from missing deadlines. Compliance ensures adherence to laws and regulations, which is essential for maintaining a company’s legal standing and avoiding legal actions.
From a financial perspective, meeting compliance deadlines prevents additional costs such as interest charges and higher fines that can accrue with late filings. Adhering to compliance maintains a business’s good standing with regulatory bodies, ensuring continuous and smooth operations. Missing compliance deadlines can lead to disruptions, including the suspension of business activities or loss of licenses, which can severely impact a company’s ability to function.
Reputation of management is another critical aspect of compliance. Adhering to deadlines builds trust with stakeholders, including customers, investors, and partners, demonstrating a commitment to ethical and legal business practices. Timely adherence to compliance due dates reduces the risk of legal actions, lawsuits, and other enforcement actions that could arise from non-compliance.
In UAE, missing a compliance due date might cost you a huge fine and financial loss. There are lots of compliances in UAE and non-compliance penalties as well. Here we discuss some important due dates that everyone must be aware of to safeguard your business from incurring penalties, financial losses and any legal actions from authorities.
- Due dates of Value Added Tax Compliances
| S.NO | Compliances | Due Date |
| 1 | VAT Registration |
Within 30 days before exceeding your taxable turnover or expenses threshold limit of AED 375,000. |
| 2 | VAT Deregistration |
Within 20 business days from the occurrence of the deregistration events To know more: https://www.spectrumaccounts.com/vat-consultancy-services-dubai-uae1/vat-de-registration/ |
| 3 | Return Filing |
VAT return filing is to be done on or before the 28th day of the following month at the end of the respective tax period (Monthly or quarterly). To know more: https://www.spectrumaccounts.com/vat-consultancy-services-dubai-uae1/vat-returns-filing/ |
| 4 | Voluntary Disclosure |
Within 20 business days from the date the error was discovered To know more: https://www.spectrumaccounts.com/vat-consultancy-services-dubai-uae1/vat-voluntary-disclosure/ |
| 5 | VAT Amendment |
The amendments are expected to be submitted to the FTA within 20 business days of the change occurring event To know more: https://www.spectrumaccounts.com/amendments-in-vat-account/ |
- Due dates of Corporate Tax Compliances
| S.NO | Compliances | Due Date |
| 1 | CT Return | 9 months from the end of the financial year |
| 2 | CT Deregistration | Within 3 months of the date of cessation of the Business or Business Activity. |
| 3 | CT Registration | |
| A | For resident juridical persons If a trade license was issued in; |
|
| 1 Jan – 31 Jan | 31-May-24 | |
| 1 Feb – 28/29Feb | 31-May-24 | |
| 1 March – 31 March | 30-Jun-24 | |
| 1 April – 30 April | 30-Jun-24 | |
| 1 May – 31 May | 31-Jul-24 | |
| 1 June – 30 June | 31-Aug-24 | |
| 1 July – 31 July | 30-Sep-24 | |
| 1 Aug – 31 Aug | 31-Oct-24 | |
| 1 Sept – 30 Sep | 31-Oct-24 | |
| 1 Oct – 31 Oct | 30-Nov-24 | |
| 1 Nov – 30 Nov | 30-Nov-24 | |
| 1 Dec – 31 Dec | 31-Dec-24 | |
| B | A resident juridical person who is incorporated or recognized after 1st March 2024 , the following is the timeline for applying for registration: | |
| A person including a free zone person which is incorporated or recognized in UAE after 1st March 2024. | 3 months from the date of incorporation or recognition | |
| A person that is incorporated or recognized outside UAE after 1st March 2024 but having POEM in UAE. | 3 months from the end of the Financial Year of the person | |
| C | A juridical person who is Non – Resident before 1st March 2024 shall submit the application for registration as follows | |
| A person that has having Permanent Establishment in UAE. | 9 months from the date of existence of the Permanent Establishment | |
| A person having nexus in the state | 1st June 2024
(3 months from the effective date of this decision) |
|
| D | A juridical person who is Non – Resident after 1st March 2024 shall submit the application for registration as follows | |
| A person that is having Permanent Establishment in UAE. | 6 months from the date of existence of the Permanent Establishment | |
| A person having nexus in the state. | 3 months from the effective date of establishment of nexus | |
| E | A natural person conducting business activity shall apply for tax registration as follows: | |
| A resident person conducting business activity whose turnover during 2024 Gregorian calendar year or subsequent years exceeds turnover of AED 1 million. | 31st March of the subsequent Gregorian calendar year | |
| A non–resident person conducting business activity whose turnover during 2024 Gregorian calendar year or subsequent years exceeds turnover of AED 1 million. | 3 months from the date when turnover exceeds AED 1 million. |
To know more about the CT registration deadlines:
https://www.spectrumaccounts.com/time-line-for-corporate-tax-registration/
- Due dates of ESR Compliances (Economic Substance Regulation)
| S.NO | Compliances | Due Date |
| 1 | ESR Notification filing | Within 6 months from the end of the financial year |
| 2 | ESR Report Filing | Within 12 months from the end of the financial year |
To know more about ESR: https://www.spectrumaccounts.com/advisory-services-dubai/economic-substance-regulations
- Due dates to submit the Audit report to different authorities
| S.NO | Authorities | Due Date |
| 1 | DMCC | 6 months from the end of the financial year |
| 2 | DSO | 3 months from the end of the financial year |
| 3 | DDA | Based on the notification from DDA |
| 4 | JAFZA | 3 months from the end of the financial year |
- Due date to file Dubai Municipality return
| S.NO | Compliances | Due Date |
| 1 | Dubai Municipality return filing | By the 15th day of the next month |
- Due date to file Excise tax return
| S.NO | Compliances | Due Date |
| 1 | Excise tax return filing | By the 15th day of the next month |
Disclaimer: This material and the information contained herein, prepared by SPECTRUM AUDITING, are intended for clients and professionals to provide updates and are not an exhaustive treatment of the subject. We are not, by means of this material, rendering any professional advice or services. It should not be solely relied upon as the basis for any decision which may affect you or your business. This update provides certain general information as well as specific information regarding SPECTRUM AUDITING. This update should not be regarded as comprehensive or sufficient for the purposes of any decision-making.
Why Spectrum Auditing?
Spectrum Auditing is a duly registered auditor authorized by the Ministry of Economy in the UAE. Furthermore, Spectrum holds accredited auditor status within multiple free zones and enjoys recognition as an approved auditor by prominent UAE banks. This solidifies Spectrum Auditing’s reputable standing in the industry.
Spectrum Auditing guides you with the laws and regulations of UAE, covering most compliances applicable as well as enable you deal with any queries pertaining to Risk Advisory, Economic Substance Regulations (ESR), Corporate Tax (CT), Transfer Pricing (TP), Ultimate Beneficiary Owner (UBO), Anti Money Laundering (AML), etc., after reviewing your business. We specialize in conducting audits adhering to International Standards on Auditing (ISA), International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS).
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