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UAE amends VAT administrative penalties

18 June 2021
United Arab Emirates

The UAE Cabinet of Ministers released Cabinet Decision No. (49) of 2021 to lower part of the penalties levied by Cabinet Decision No. (40) of 2017. The amendment will be taking place on 28 June 2021.   According to the amendment, the penalties imposed before the effective date and have not yet processed will be waived 70% of the total unpaid amount if it meets all the following conditions:     The penalties imposed by violating Cabined Decision No. (40) before 28 June 2021 have not yet paid the total amount; The registrant has settled taxes in full amount by...