Updated: Unravelling the Updated Voluntary Disclosure Rules

While the newly published Tax Procedures Executive Regulation (Cabinet Decision No 74 of 2023) and Public Clarification TAXP006 confirm our expectation, they do not quite clarify all of the uncertainties, for example:

· As expected, the new ER retains the threshold of AED 10,000 of “payable tax” (i.e. difference between output and input tax reported in a VAT return) below which a taxpayer is not required to file a VD but can correct errors in the next VAT return instead.

Source: Vlad Skibunov

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