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Change in the UAE’s Tax Litigation Landscape: Voluntary Disclosures, Challenges and Resolutions

October 27, 2020

CRESCO, INAA member in UAE, Philippines and Seychelles, has published this very interesting article on its website www.crescoaccounting.com about changes in the UAE’s Tax Litigation Landscape. Discover it below.

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"On October 14, 2020, the UAE Federal Supreme Court renders judgment on an appeal filed by the UAE Federal Tax Authority, subjecting voluntary disclosures of UAE based businesses to penalties of up to 300% of the tax dues.  Additionally, the penalties may be counted from the due date of the tax return and not from the date of voluntary disclosure. Most taxpayers don’t intentionally incur tax penalties, but many who are penalised are simply not aware of the penalties or the possible impact on their finances. [...]"