In an effort to support Excise Tax Registrants during the difficult circumstances caused by COVID-19, the Federal Tax Authority has decided to extend the tax period for businesses registered for Excise Tax, which commenced on 1/3/2020 for one month on an exceptional basis, to end on 30/4/2020. The tax period shall now respectively cover the months of March 2020 and April 2020, allowing registered businesses sufficient time to fulfil their tax obligations before the deadline.
Excise Tax Registrants must fulfil the following obligations:
- file two separate tax returns, one for March 2020 and one for April 2020, by no later than Sunday, May 17, 2020; and
- ensure that the Federal Tax Authority has received the tax payable for the tax periods as reported in the March 2020 and April 2020 tax returns by no later than Sunday, May 17, 2020.
Our expert tax lawyers are available to assist with this and all your tax needs during these difficult times.