“Federal Tax Department” explains the corporate tax penalty due that has not been paid

The Federal Tax Authority clarified that the failure of the corporate tax subject to pay the tax due for each month or part of the month exposes him to a monthly fine of 14% annually, imposed on the amount of tax due to be paid that has not been paid, from the day following the payment due date and on the same date monthly thereafter. .

The Authority indicated in a press statement today that for the purposes of this fine, payment is due no later than 9 months from the end date of the relevant tax period, in accordance with Federal Decree Law No. 47 of 2022 regarding corporate and business tax and its amendments.