Monday is the final deadline for submitting Tax Returns: FTA
The Federal Tax Authority (FTA) has announced the release of eight educational awareness videos targeting businesses, introducing them to the simple four-step procedure for submitting tax returns through its website: www.tax.gov.ae.
In a press release issued today (Wednesday, May 23, 2018), the FTA explained that the videos can be viewed on its official website and social media channels, as well as through all news websites. The new videos constitute a comprehensive guide outlining the steps and procedures required to complete and submit Tax Returns and pay taxes, and making them easier to understand and follow for businesses.
The Authority went on to caution that this coming Monday (May 28, 2018) is the final deadline for submitting Tax Returns and paying due taxes for the Tax Period that ended on April 30. The FTA urged the businesses included in this Tax Period to comply with the deadline in order to avoid administrative penalties.
FTA Director General Khalid Ali Al Bustani said: "Launching the videos is part of the Federal Tax Authority’s plan to raise tax awareness among businesses and members of the community from all backgrounds. These educational and awareness efforts are part of our strategy to improve our services and encourage self-compliance with tax procedures using our advanced electronic systems."
"The Authority is multiplying its efforts to ensure businesses and individuals all over the UAE know their rights, their obligations, and how to correctly implement the tax system," he added. "The FTA has released more than 60 guides covering all legislative and implementing aspects of the UAE tax system, in addition to e-learning modules, infographics, and animations in Arabic and English about Excise Tax, Value Added Tax, and the objectives behind them."
The FTA explained that the new videos introduce in full detail the process for submitting Tax Returns, which can be done round the clock through its website. Users begin by logging onto the e-Services portal on the website, then clicking successively on the "VAT" tab, "Tax Return VAT201", and finally "New Tax Return VAT201".
The videos explain how to fill out the Tax Return form box by box with data about sales and other outputs, as well as expenses and other inputs, where depending on the due tax for the Tax Period in question, businesses either go on to pay their taxes or request a tax refund.
The clips also demonstrate how to submit the Tax Return after the registered business has carefully filled out and double-checked all the mandatory fields in the online form. The eighth and final video provides a visual on how-to settle VAT by one of many available payment options.
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