Don't Let Vat Penalties Hurt Your Business - Get a Waiver Today
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The long-standing, albeit not very beloved, default fee regime will end in the new year. Instead, late penalties for filing a VAT return or paying a VAT bill will

Don't Let Vat Penalties Hurt Your Business - Get a Waiver Today
https://qr.ae/prL2fk
The long-standing, albeit not very beloved, default fee regime will end in the new year. Instead, late penalties for filing a VAT return or paying a VAT bill will increase for VAT periods starting on or after January 1, 2023. Changes are also coming to the calculation of interest on overdue VAT payments and FTA repayments.

The new rules offer some noteworthy enhancements compared to the previous default surcharge regime. However, taxpayers and their representatives may need to know other factors.

New value-added-tax penalty system based on points: a summary

Late tax returns will now incur fines based on a point system. You will receive points for every late submission, whether it is monthly, quarterly, or annually. A 916.73 AED fine with interest will be assessed after enough points have been added to your record.

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https://www.saconsultantsuae.com/vat-return-expert-uae/