Filing Income Tax Return extension
Due to the COVID-19 outbreak that is still having a negative impact on the daily business along with the administrative difficulties that most of the taxpayers have been facing; The General Tax Authority has issued today circular 1/2021 in which it has extended the grace period of submitting the financial statements and Income Tax Return in the Dhareeba system for two months depending on each company accounting calendar year. The majority of the companies were supposed to file by the end of 30 April 2021; hence, this extension gives the taxpayers another two months (till the end of June 2021) to arrange all the documents and avoid any administrative difficulties.
This circular does not apply to companies that are engaged in the Petroleum or Petrochemical industry. Read more about the article