The UAE Cabinet has amended certain provisions of the VAT Decree-Law that may take effect from January 1st 2023. The most striking change among these amendments is the introduction of a new article that amends the provision of the Statute of Limitation. Under the current law, as per Article 42 of the Federal Law on Tax Procedures (Federal Decree-Law No. 7 of 2017), the FTA generally cannot perform a tax audit after five years from the end of a tax period.
However, a new Article (79) bis have been added to the Decree Law that states exceptions from the general rule. Tax agents in Dubai can guide you further on the statute of limitations. Read ahead to know more about the Statute of Limitations under the amended UAE VAT Law: ..
Source: jcauaeaudit.com
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