All companies and business are going through the worst situations whole over the world. UAE government has decided to reduce the TAX penalties by considering the pandemic situations. Based on the newly issued Cabinet Decision No. 49 of 2021, the tax penalty amount has been reduced to 30% less amount. The current Tax payers have time till 30th December 2021. New amount will be applicable from April 28th 2021.
The intention of new law is to help the business owners during this hectic situations and that will help the companies to overcome the current financial difficulties.