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The cabinet decision will come into effect on March 1 for the UAE corporate tax late registration fine.
In the UAE corporate tax late registration fine, the Ministry of Finance declared in Cabinet Decision No. On Tuesday,10 of 2024, it was non-compliant, and the administrative penalty schedule set forth by Cabinet Decision No. 75 of 2023 would change as a result of this decision. The UAE corporate tax late registration fine in this decision is an announcement that the law that controls how companies and corporations are taxed will go into effect.
It is scheduled that Cabinet Decision No. 10 of 2024 will become operational on March 1st, 2024.
The Ministry of Finance says that businesses that still need to send in their applications for corporate tax registration by the due dates set by the Federal Tax Authority will have to pay a penalty of Dh10,000 if they are late with their registration of UAE. Organizations in the UAE (United Arab Emirates) will have to pay this fine for late submission.
The introduction of the penalty is part of an effort to encourage taxpayers to follow the rules and regulations with tax laws by registering for corporate tax in a timely manner. This is the purpose behind the corporate tax late registration fine and the imposition of the penalty. It is essential to take note of the fact that the amount of the fine for corporate tax late registration is very similar to the fine that applies to late registration for excise tax and value-added tax.
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