FTA Urged UAE Businesses Register for VAT to File their Tax Returns

Federal Tax Authority (FTA) urged all UAE businesses registered for value added Tax (VAT) who missed the point for filing their tax returns to pay their tax dues straight off.

FTA said:

"Respecting the deadline to file tax returns and pay due taxes is a liability borne by the registered tax person."

In case of non-compliance with tax payments on deadlines, businesses are needed to pay the calculable taxes beside administrative penalties.

Violations embrace the failure of tax registrants to submit the return/legal document within the timeframe per law and failure of tax person to settle the collectable tax explicit within the 

submitted tax return or assessment that was notified.

Continue Reading: New Tracking System Launched to Combat Tax Evasion

New Tracking System Launched to Combat Tax Evasion

The Federal Tax Authority (FTA) has declared launching a new electronic pursuit system that uses digital tax stamps to make sure excise tax on tobacco merchandise has been paid.

Set to go into impact in early 2019, the system seeks to combat evasion and business fraud, supporting the FTA's efforts to with success implement excise tax systems and verify payment of excise tax on tobacco merchandise.

An awareness meeting was headed by FTA director-general Khalid Ali Al Bustani and attended by native and international producers and importers of tobacco, alongside representatives from the Authority and the international company that operates the system, that focuses on producing digital tax stamps for tobacco merchandise.

"The authority has created nice progress in implementing the new system supported best international standards" Al Bustani noted.

The system can embody integrated electronic pursuit mechanisms at customs and across the availability chain around the UAE. it's set to be unrolled within the close to future in coordination with the customs departments, also as economic development departments and makers and importers of tobacco merchandise.

The FTA director-general urged all corporations operative within the tobacco producing and supply sector - that is subject to excise tax - to fits the new system and its needs and to collaborate with the authority to implement it and guarantee widespread compliance with UAE tax laws and rules to avoid administrative penalties.