FTA Provides Extension to Filing First VAT Return
The Federal Tax Authority (FTA) has announced that they have deferred the timeline for the first Value Added Tax (VAT) return filing period. The changes indicated to some taxpayers include that first VAT return (from January 1 to May 31) will now need to be filed on or before June 28.
All upcoming filings will then have to be made on a quarterly basis (from June 1 to August 31, September 1 to November 30, December 1 to February 28-29). Others may find that they are now required to do 3 monthly returns rather than monthly, while still others may find no changes to their filing obligations.
To ensure you are fully informed and aware, please check the specific changes on the FTA portal time to time.