Tag Archives: tax laws

Administrative Penalties for Violation Of Tax Laws in UAE

Administrative Penalties for Violation Of Tax Laws in UAE

Why You Should Be Prepared For VAT Audits In UAE

Offences and Penalties Under TAX Law

 

  Sl.   No.

Offences

Penalties

1)

Failure to maintain books of accounts

AED 10,000 for the first time

 AED 50,000 in case of repetition

2)

Failure to submit registration application within the specified time frame

AED 20,000

3)

Failure to submit de-registration application within the specified time frame

AED 10,000

4)

Failure to submit Tax Return within the specified time frame

AED 1,000 for the first time

  AED 2,000 in case of repetition within 24 months

5)

Failure to pay due Tax within the specified time frame

 2% of unpaid tax is due immediately

  4% is due on the seventh day following the deadline for payment

  1% daily penalty charged on any amount that is still unpaid one   calendar month following the deadline for payment (Max 300%)

6)

Incorrect Tax Return by Registrant

AED 3,000 for the first time

  AED 5,000 in case of repetition