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business technology review2 hours ago
The Federal Tax Authority (FTA) has issued 50 guides and e-learning modules covering some legislative and implementation aspects of the UAE's tax regulations.
The guides and e-learning modules cover many tax aspects, including import and export declaration, registration for excise tax, value-added tax (VAT) and tax groups, excise tax refund, filing tax returns, warehouse keepers and designated zones, said Khalid Ali Al Bustani, FTA director-general.
The announcement coincided with the launch of the FTA's awareness campaign, 'Filing returns in 4 steps', which seeks to familiarise businesses registered for VAT with the FTA's online system. The FTA's online tax system was launched earlier this month and started receiving tax returns for the first tax period, which ended for some businesses on January 31, 2018, as these are now required to file their returns before February 28, 2018.
Al Bustani called on businesses and specialists to benefit from these guides and e-learning modules to raise awareness among stakeholders. This will enable the FTA to obtain accurate and comprehensive information, which helps promote tax culture among the various business sectors.
"Through its website, the Authority provides comprehensive information and guidance on tax legislation and procedures," the FTA director-general said. "It also provides videos that familiarise businesses and members of society in general with their rights, obligations and methods for calculating tax."
Al Bustani also urged businesses to comply with the tax procedures stipulated in the FTA's respective laws and regulations.
Earlier this month, the FTA informed businesses registered in the VAT system, and whose first tax period ended on January 31, 2018, that their VAT returns must be submitted no later than February 28, 2018.
- business@khaleejtimes.com
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