UAE: Full list of fines for violations of corporate tax rules revealed

UAE: Full list of fines for violations of corporate tax rules revealed

Penalties include fines of up to Dh20,000

Published: Mon 31 Jul 2023, 3:41 PM

The UAE’s Ministry of Finance has announced the issuance of Cabinet Decision No. (75) of 2023 regarding administrative penalties for violations related to the Federal Decree-Law No. 47 of 2022 on the taxation of corporations and businesses.

The decision specifies administrative penalties that will be imposed by the Federal Tax Authority (FTA) for violations related to the application of the Corporate Tax Law. The penalties will come into effect from tomorrow (August 1, 2023).

Here is the complete list of penalties:

Question: What is fine for failure for conducting a business or business activity or having a tax obligation under the Tax Procedures Law or the Corporate Tax Law to keep the required records and other information?

Answer: One of the following penalties shall apply for the violation: Dh10,000 for each violation; Dh20,000 in each case of repeated violation within 24 months from the date of the last violation.

Question: What is the penalty for failure for conducting business or business activity or having a tax obligation under the Tax Procedures Law or the Corporate Tax Law to submit the data, records and documents related to tax in Arabic to the Authority when