Revised Tax Penalties for various defaults under UAE VAT Law

Prior to the issuance of the New Resolution, taxpayers were faced with heavy penalties for non-compliance under the VAT & Excise rules and regulations. Although the penalties imposed under the previous Cabinet Resolution were to reduce non-compliance and to be more compliant with the law, these always posed a heavy burden on taxpayers who wanted to rectify genuine mistakes voluntarily.

Source: nexdigm.com

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