UAE offers grace period for taxpayers to update records, waives penalties paid since January 2024

UAE’s Federal Tax Authority (FTA) announced grace period for taxpayers falling behind on updating their tax registration information for the period ending in March 2025.
The new decision has been issued to support businesses in meeting their tax obligations. The grace period is for registrants who have fallen behind on updating their tax records from January 1, 2024, until March 31, 2025.
If penalties were paid between January 1, 2024, and the grace period deadline, they would be refunded. This follows the Penalty Refund Procedures in Cabinet Decision No. (105) of 2021, which outlines the rules for paying, waiving, and refunding administrative penalties.
The new decision also allows violators to make the necessary adjustments and avoid administrative penalties associated with failure to inform the FTA of any cases that require modifying their tax records.

(Source: Khaleej Times)

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