The Federal Tax Authority (FTA) in the UAE has announced that corporations failing to pay their due corporate tax will incur a monthly penalty of 14 percent per annum. This penalty is applied to the unpaid tax amount and begins accruing from the day after the payment deadline. Each month following the deadline, the penalty...
The UAE’s corporate tax system is now in full effect, and some businesses have already filed their first tax returns, marking a significant milestone since the country introduced the tax in June 2023. Companies licensed in June 2023, whose financial year ended by February 29, 2024, had until December 31, 2024, to submit their returns...
Reckless driving in the UAE is facing strict penalties as authorities aim to enhance road safety. Recently, Dubai resident Sanjay Rizvi experienced severe consequences after jumping a red light. The 22-year-old Indian expat had his brand-new Tesla sedan impounded for one month and was fined Dh50,000 for its release. The penalties for traffic law violations...