Abu Dhabi: The Federal Tax Authority (FTA) announced that the total number of beneficiaries from the Corporate Tax Late Registration Penalty Waiver initiative exceeded 68,600 taxable persons during 2025 and the elapsed period of 2026.The FTA expects this number to rise to more than 91,000 beneficiaries under the Cabinet decision to waive administrative penalties incurred by taxable persons for Corporate Tax purposes, as well as certain categories of exempt persons required to register with the FTA, due to late submission of registration applications within the legally specified timeframe. The decision came into effect in April 2025 and applies to late Corporate Tax registration penalties from 1 June 2023, subject to meeting the specified conditions.The FTA stated that, under the initiative, exemption from the penalty requires the taxable person, or the exempt person required to register, to submit their Tax Return or annual declaration within a period not exceeding seven months from the end date of their first tax period or financial year, instead of nine months.The Authority confirmed that the Penalty Waiver initiative applies only to the first tax period of the taxable person or the exempt person required to register.Abdulaziz Al Mulla, Director General of the FTA, urged unregistered corporate taxable persons to take advantage of the initiative, which aligns with the directives of the UAE’s leadership to implement a transparent tax system while maintaining economic momentum through a flexible legislative environment that keeps pace with developments and encourages voluntary compliance.He said: “The FTA is intensifying its efforts to support taxable persons by providing continuous facilitation to help them fulfil their tax obligations, thereby enhancing the UAE’s competitiveness in doing business. The Authority is also committed to raising proactive and ongoing awareness of all applicable and newly introduced tax legislation, decisions, and procedures, in addition to offering procedural facilitations to ensure smooth compliance.”Al Mulla added: “FTA data indicates that more than 22,000 taxable persons are eligible to benefit from the initiative in the coming period. In accordance with the Cabinet decision, the initiative covers corporate taxable persons and certain categories of exempt persons who were late in submitting their tax registration applications and consequently incurred administrative penalties.”He explained that these categories can benefit by submitting Corporate Tax registration applications, followed by Tax Returns or annual declarations via the EmaraTax digital platform within seven months from the end of their first tax period or financial year.The FTA noted that if a person covered by the initiative meets the exemption conditions by submitting the required filings within the seven-month period, the late registration penalty will be waived automatically, without the need to submit a reconsideration or waiver request. If the penalty has already been paid, a credit equal to the penalty amount will be automatically added to the taxpayer’s EmaraTax account, allowing it to be used to settle other liabilities or be refunded upon request.The Authority explained that eligible cases include persons who registered and were charged a penalty (whether paid or unpaid), those who have not yet submitted a Tax Return, and those who have not yet registered but can still benefit upon completing registration and submission within the specified period. In all such cases, the penalty will be cancelled or refunded as applicable.The FTA urged all concerned parties to review the Public Clarification available on its official website, titled: *Waiver of Administrative Penalty for Failure to Submit a Corporate Tax Registration Application within the Specified Timeline*. The document provides detailed explanations of eligibility criteria, refund mechanisms, and illustrative examples.The clarification also outlines eligible persons, including Corporate Tax taxable entities and certain exempt persons required to register.

Abu Dhabi: The United Arab Emirates has condemned in the strongest terms the terrorist attack targeting an Indian-flagged ship off the coast of the Sultanate of Oman.In a statement, the Ministry of Foreign Affairs (MoFA) affirmed that this attack constitutes a grave threat to the security of international navigation and represents a dangerous escalation aimed at undermining the stability of critical waterways.The UAE expressed its solidarity with the Republic of India and its full support for all measures aimed at safeguarding the security and safety of its vessels and national interests.The Ministry underscored that this attack represents a flagrant violation of UN Security Council Resolution 2817, which affirms the importance of freedom of navigation and rejects the targeting of commercial vessels or the obstruction of international maritime routes.The Ministry further emphasised that targeting commercial shipping, and using the Strait of Hormuz as a tool of economic coercion or blackmail, constitutes acts of piracy and poses a direct threat to regional stability, its populations, and global energy security.