From 01 August 2023, the new rules set out in Cabinet Resolution No. 74 of 2023 on tax procedures and Resolution No. 75 on administrative penalties for violations related to the application of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Enterprises will come into effect Regulation No. 74 applies to corporate tax, excise tax and VAT.
It replaced the existing Tax Procedures Regulation and aligns tax definitions, procedures and processes with the new Tax Procedures Act, effective 1 March 2023. In particular, the rules relating to record keeping, UAE licensing authorities, notification methods, tax audits, etc. have been changed. A detailed breakdown of the changes can be found in the clarifications prepared by the UAE Tax Authority TAXP006 Resolution No. 75 defines the list of penalties that will be levied by the UAE Federal Tax Authority for violations related to non-compliance with corporate tax laws. However, Cabinet Resolution No. 40 of 2017 on Administrative Fines for Violations of Tax Laws in the UAE, as amended by Cabinet Resolution No. 49 of 2021, will continue to apply to violations related to excise duties and VAT.