FTA issued much awaited list of penalties for violations related to Corporate Tax application.
Here is the 5 most important ones:
| # | Violation Name | Fine Amount, AED |
| 1 | Failure of the Person to keep the required records and other information specified in the Tax Procedures Law and the Corporate Tax Law. | One of the following penalties shall apply: 1. 10,000 for each violation. 2. 20,000 in each case of repeated violation within 24 months from the date of the last violation. |
| 2 | Failure of the Registrant to inform the Authority of any case that may require the amendment of the information pertaining to his Tax record kept by the Authority. | One of the following penalties shall apply: 1. 1,000 for each violation. 2. 5,000 in each case of repeated violation within 24 months from the date of the last violation. |
| 3 | Failure of the Registrant to submit a Tax Return within the timeframe specified in the Corporate Tax Law. | 1. 500 for each month, or part thereof, for the first twelve months. 2. 1,000 for each month, or part thereof, from the thirteenth month onwards. |
| 4 | Failure of the Taxable Person to settle the Payable Tax. | A monthly penalty of 14% per annum, for each month or part thereof, on the unsettled Payable Tax amount from the day following the due date of payment and on the same date monthly thereafter. |
| 5 | The Registrant submits an incorrect Tax Return. | 500 |
If you would like to get yourself familiar with the full list of penalties, make sure to download it here.
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