UAE reduces penalties for violating tax laws
(KT file)
FTA to amend administrative penalties in support of businesses fulfilment of their tax obligations and enhancement of the State s competitiveness.
The Federal Tax Authority (FTA) has confirmed that Cabinet Decision No. 49 of 2021 on amending some provisions of the Administrative Penalties for Violation of Tax Laws in the UAE, is designed to support tax registrants and help them fulfil their tax obligations, thereby enhancing the state s competitiveness in the field of conducting business.
In a press release issued on Saturday, Khalid Ali Al Bustani, director-general of the Federal Tax Authority, said the new amendment will become effective on June 28, 2021, and will reduce many administrative penalties imposed for violating tax laws.
Under the amendment, 16 types of administrative penalties have either been reduced or had the method of calculation amended, explaining that the reductions include penalties for administrative violations on Tax Procedures
FTA conducts 2,707 field inspection visits
ABU DHABI, 2 hours, 3 minutes ago The Federal Tax Authority (FTA) has conducted more than 2,707 field inspection visits in cooperation with the competent authorities through 35 inspection campaigns across UAE markets in the first quarter of 2021. FTA Director-General, Khalid Ali Al Bustani, confirmed that the sophisticated, cutting-edge tools adopted by the Authority during inspections enable inspection teams to d accurately carry out their tasks through the latest field electronic mechanisms which correspond to best practices. This contributes to tightening controls on UAE markets to prevent the sale, circulation, and stockpiling of products that have not fulfilled their Excise or Value Added Tax (VAT) obligations.
FTA conducts 2,707 field inspection visits in Q1 gulftoday.ae - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulftoday.ae Daily Mail and Mail on Sunday newspapers.