UAE FTA Confirms Taxable Persons Eligible for Small Business Relief Must Submit Simplified Corporate Tax Returns Within Prescribed Legal Deadlines

The UAE Federal Tax Authority (FTA) has issued a notice to confirm that taxable persons eligible for Small Business Relief must submit simplified corporate tax returns within prescribed legal deadlines. As previously reported, Small Business Relief provides that a taxpayer may elect to be treated as not having derived any taxable income for a tax period if their revenue in the relevant tax period and previous tax periods is below AED 3 million for each tax period, subject to certain conditio…