The UAE’s Federal Tax Authority (FTA) has changed the deadline for firms preparing to file a VAT return for the first time.
A news report by Tax-News.com indicated that under the UAE’s VAT law, VAT returns were required to be filed with the FTA within 28 days of the end of the tax period, which is quarterly for businesses with an annual turnover below AED150m (USD40,844), and monthly for businesses with an annual turnover of AED150m or more.
Certain businesses that were due to submit their returns during the first two months of the year (following the introduction of the levy on January 1) have been granted an extension.
Commenting on the revised deadlines, Director General of the FTA, Khalid Al Bustani stated: “The tax period for some businesses will, therefore, be four months, and five months for other businesses while businesses with a three-month tax period ending in March will not be affected by the amendments.”
The FTA said guidance had been released for taxable persons via the eServices portal of the Federal Tax Authority’s website.
