What about late payment penalty fees, you just read it... I want to know the exact mechanism of it. Just like it was previously 2% just after due due till a week and on the 7th day the penalty goes to 4% fixed on unpaid tax amount which donot change upto one calendar month and after one calendar month of filing 1% daily penalty eas imposed, so this is how the previous penalty works. Kindly guide the proper mechanism on new late payment penalty
Thank you for the question. It is not clear which part of the explanation was not proper. 2% immediately 4% after 1 month & additional 4% every month after The maximum limit is 300% -MSI Team
Hello sir we already registered vat existing company. Now we open new company how can register... Both company are sole proprietor ship.. Only one owner... Kindly advise this matter
In such a case only 1 TRN is needed for both the companies as it is a sole establishment. We have made a video on this topic, click here - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-xUvoMsD4J8k.html - MSI Team
Sir I have a company in UAE. Last 2 years we have Sales between voluntary troushold and mandatory troushold. If I register for vat on voulantary basis now, Is there any chance for late registration penalty ? Is it already late for Voluntary registration?
Which option i need select for my paying my penalty fine … for getting 30 % offer on penalty 1. Tax liability cleared first 2.administrative penalty cleared first 3.oldest liability cleared first
Hi, thanks for the great content. Just want to clarify if there's any procedure or forms to be applied to the FTA visa eservices portal to benefit from this redetermination/waiver OR administrative penalties imposed before june28 2021 are automatically reduced to 30 % if the 3 conditions are met by the registrants?
administrative penalties imposed before june28 2021 are automatically reduced to 30 % if the 3 conditions are met by the registrants? is there anything we need to submit in reconsideration section in FTA portal please clarify.
