14/04/2020 by MNV Associates
FTA Has Deferred the Filing of the Excise Tax Submission for One Month
FTA has deferred the Excise Tax return submission deadline for March & April to May 17, 2020, to help businesses affected by Covid-19 and lockdown in the UAE.
The Federal Tax Authority (FTA) is devoted to helping excise tax registrants as they manipulate the improvement and challenges attributable to the precautionary measures implemented inside the UAE to restriction the unfold of the unconventional coronavirus (COVID-19) that have been a restricted motion for people and automobiles for 24 hours a day in certain areas.
The authority apricate the pressing and great nature of this improvement which have coincided with the deadline for submitting an excise tax return. The FTAs has sought to ease tax burdens for registrants in these situations to permit them to fulfil their obligations, record their tax returns and settle their payables taxes in the felony time frame.
FTA has deferred the filing and the fee of the excise tax for one month. The excise tax goes back for the month of March that is due on the 15th of April is now due on the seventeenth of May 2020. It needs to be referred to that the go back for the month of April is likewise due at the 17th May 2020 and the taxpayers are required to file separate returns for every month allowing registered companies enough time to fulfil their tax obligation before the closing date.
Excise tax registrants in the UAE have to fulfil the following duty:
• File separate tax return, one for March 2020 and one for April 2020 no later than Sunday, May seventeenth, 2020.
• Ensure that the FTA has obtained the tax payable for the tax length as reported within the March 2020 and April 2020 tax return no later than Sunday seventeenth 2020.