Common Corporate Tax Filing Mistakes in the UAE
With corporate tax returns becoming an annually occurring exercise for businesses, many UAE companies are now making mistakes that are avoidable while filing taxes. One such common mistake that is being made is with regard to the taxable income, which is a result of misunderstanding the UAE tax laws with regard to deductibility of certain expenses.
Another common problem could be an incomplete filing of corporation tax returns on time. Businesses using outdated accounting systems are likely to overlook the deadline for submission or have incorrect data in the return. SMEs, in particular, are likely to find UAE corporation tax compliance more complex due to this reason.