The Federal Tax Authority (FTA) in the United Arab Emirates has produced a guide advising companies on the process for filing tax returns online, following last month's introduction of value-added tax (VAT). The authority said its campaign will feature on digital, social and other media channels and is aimed at introducing its new online tax returns system, which went live earlier this month, to businesses who have registered for VAT.
It sets out the four steps (highlighted in the infographic below) that companies need to take in order to file their returns online.
Companies are expected to file VAT returns either on a monthly or quarterly basis. Larger businesses are expected to file monthly, and need to submit their first return for January by the end of February.
Khalid Al Bustani, FTA director-general, said that the success of the UAE's tax system was a shared responsibility requiring strategic collaboration between public and private sectors.
(Click on the image above to open a high resolution PDF)
The FTA said information about tax periods is available on its website, and that registered companies should check the site to see whether their first tax period ended on January 31.
All six Gulf Cooperation Council countries signed an agreement in 2016 agreeing to introduce VAT, but so far only the UAE and Saudi Arabia have done so.
For more on the introduction of VAT to the GCC, click here.
(Writing by Michael Fahy; Editing by Shane McGinley)
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