UAE FTA defers the first VAT return filing period has been saved
UAE FTA defers the first VAT return filing period
The first return to be filed on or before June 28
We understand that the United Arab Emirates (UAE) Federal Tax Authority (FTA) has indicated to some taxpayers that they have deferred the timeline for the first Value Added Tax (VAT) return filing period. The changes indicated to some taxpayers include that first VAT return (from January 1 to May 31) will now need to be filed on or before June 28. All upcoming filings will then have to be made on a quarterly basis (from June 1 to August 31, September 1 to November 30, December 1 to February 28-29). Others may find that they are now required to do 3 monthly returns rather than monthly, while still others may find no changes to their filing obligations. Taxpayers should check their particulars on the FTA portal.
This change will provide businesses, especially small and medium-sized enterprises (SMEs), with the needed time to ensure full compliance and reporting of their VAT obligations to authorities.