UAE delays first VAT returns
The United Arab Emirates Federal Tax Authority has relaxed the initial filing dates for the new VAT regime, launched on 1 January 2018. This is to provide businesses, particularly smaller enterprises, time to adjust to the new indirect tax.
Under the new VAT regime, businesses with a turnover above DH150million are required to file monthly VAT returns; those below this threshold are on quarterly filings. Initially, filings for quarterly returns were due by 28 days after the calendar quarter end.
The first quarterly filing deadline for many businesses has now been extended to 28 June 2018 – effectively making it a five-month filing covering Jan to May 2018. The second filing will cover June to Aug 2018; the third Sep to Nov 2018; and the last Dec 2018 to Feb 2019.
Many companies on monthly filing will be moved to quarterly filings for 2018.
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