The Federal Tax Authority (FTA) has issued a reminder to taxpayers who have not yet updated their tax records to utilise the extended grace period, which allows submissions until the end of March 2025 without incurring administrative penalties. According to the Cabinet Decision on the Executive Regulations of the Federal Decree-Law on Tax Procedures, registrants must notify the FTA of any changes to their data within 20 business days using the approved form and mechanism. Failure to comply within this timeframe may result in penalties. UAE tax authority waives penalties for record updates before March 2025 deadline The FTA specified that the data requiring updates includes business name and address, email address, trade licence activities, legal entity type, partnership agreements for unincorporated partnerships, articles of association or equivalent documents, nature of business, and any address from which the registrant conducts business. To encourage compliance, the Cabinet issued a decision last year implementing a grace period from January 1, 2024 to March 31, 2025, during which registrants can update their records without facing administrative penalties. “Cases where administrative penalties had already been imposed – during the grace period – as a result of not updating the registrants’ information within (20) working days, these fines […]