UAE Federal Tax Authority Clarifies Penalties for Unpaid Corporate Taxes Failing to pay the due corporate tax for each month or part thereof shall be subject to a monthly penalty of 14% per annum.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Shutterstock

The UAE Federal Tax Authority (FTA) has clarified that taxpayers failing to pay the due corporate tax for each month or part thereof shall be subject to a monthly penalty of 14% per annum.

This penalty is imposed on the unpaid tax amount and is calculated from the day following the payment deadline, accruing on the same date each subsequent month.

FTA indicated that for the purposes of this penalty, the due date is no later than nine months after the end of the relevant tax period, in accordance with Federal Decree-Law No. 47 of 2022 on Corporate Tax and its subsequent amendments.

Technology

UAE'S RAK DAO Launches USD$2 Million Builder's Oasis Accelerator Program

Applications for Builder's Oasis will be open until the end of February 2025, after which shortlisted teams will be invited to participate in exclusive demo days in Dubai and Ras Al Khaimah.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Entrepreneurs

The Connoisseur: Gastronomica Founder And CEO Basil Al Salem

Basil Al Salem, founder and CEO of Kuwait-based hospitality group Gastronomica says he can't pick a favorite from the varied dining concepts in his portfolio, but admits that his business came into being thanks to his particular love for "quality" burgers.

Growth Strategies

Go Greek Yogurt Launches in Saudi Arabia

Operating at The Esplanade, Panorama Mall, Al-Faisal University, 1364 Mall, and Al Faisaliah Mall, Go Greek Yogurt is redefining mindful indulgence in the Kingdom.