UAE / Press statement from the Federal Tax Authority concerning tax duties
As the deadline for filing the next VAT returns is close (tax period ending May 31, 2018), the Federal Tax Authorities has been delivering useful information. Notably, returns are submitted via the FTA e-Services portal. In a press statement issued on June 18, 2018 the FTA warned that the deadline for the submitting the tax returns is June 28 and called on all registered businesses to comply with the requirement and settle their due taxes within the specified period in order to avoid penalties.
His Excellency Khalid Ali Al-Bustani (Director General of the FTA) said that the FTA has simplified the procedures for submitting return and paying VAT in compliance with best international standards ensuring flexible payment options.
H.E. Al Bustani confirmed that payment of taxes can be made through a wide network of banks, exchange offices and finance companies operating in the UAE. He stressed that businesses can either settle their dues through UAEFTS (available at around 77 banks, exchange offices and finance companies across the country) or via the e-dirham cards, option for tax payment through the Authority’s electronic services portal.
H.E. Al-Bustani stressed also the importance of checking the accuracy of all data entered during the submissions process and ensuring that the amount due is transferred to the correct GIBAN number.
He also appreciated the high level of compliance from businesses in fulfilling their tax duties and stressed that the FTA is in constant contact with businesses to find out and discuss their views, discuss ways to overcome any obstacles that they are facing, and ensure that tax laws and regulations are implemented efficiently and without adversely impacting on businesses.
Author: Roberto Scalia, Chairman JIACC Tax Commission
