The Financial Authority of the United Arab Emirates announced the introduction of new measures aimed at strengthening tax discipline among legal entities. From March 1, 2024, in accordance with this decision, organizations that delay the process of registering as 9% corporate tax payers will face serious financial consequences. The specified fine will be 10,000 dirhams.
This measure is intended to motivate companies to timely fulfill their tax obligations, emphasizing the importance of transparency and responsibility in the financial sector. This innovation reflects the UAE government’s commitment to strengthen economic stability and ensure fair distribution of tax revenues. Businesses wishing to avoid trouble with the law are advised to actively interact with financial authorities, ensuring complete and timely reporting on all tax matters.