The UAE has offered a grace period to taxpayers to help them avoid fines and penalties resulting from tax records. The Federal Tax Authority (FTA) announced a new decision to support businesses in efficiently meeting their tax obligations, offering a grace period for tax registrants who have fallen behind on updating their tax records for the period from January 1, 2024 until March 31, 2025. The initiative allows violators to make the necessary adjustments and avoid incurring the administrative penalties associated with failure to inform the FTA of any cases that require modifying their tax records. UAE tax deadline The decision on granting a grace period for administrative penalties for registrants who have failed to update their tax record information was issued by the Cabinet. It stipulates that in the event where penalties were imposed on registrants for failing to update their records in time, and the registrants in questions already paid said penalties in the period from  January 1, 2024 until the deadline set for the grace period, then the penalties will be refunded, in line with the Penalty Refund Procedures outlined in Cabinet Decision No. (105) of 2021 on Controls and Procedures for Paying Administrative Penalties by Instalments, and Waiving and Refunding […]