Case Studies
Client Overview: DOMAINE DES ARTISTES HOLDINGS LIMITED is a Private Company Limited by Shares registered in Abu Dhabi Global Market (ADGM).
Helping an ADGM Company Waived AED 10,000 Penalty
The Challenges
Under UAE Corporate Tax regulations, businesses must complete Corporate Tax Registration within the required timeframe after becoming subject to Corporate Tax.
The client missed the registration deadline, which resulted in:
AED 10,000 administrative penalty Issued by the Federal Tax Authority (FTA) for late Corporate Tax registration.
The company approached AB Capital to resolve the issue and restore compliance.
How AB Capital Services Helped Them
Our tax advisory team conducted a quick compliance review and identified an opportunity to utilize the FTA Corporate Tax Penalty Waiver Initiative.
We supported the client through the following steps:
1. We completed the FTA Corporate Tax registration process to bring the company into compliance.
2. Our team evaluated the client's eligibility for the FTA penalty relief scheme.
3. We advised the client to file the Corporate Tax Return within 7 months of the end of the first tax period, which qualifies for the penalty waiver initiative.
4. AB Capital ensured that the company follows the correct filing and reporting procedures going forward.
Result
With AB Capital’s assistance:
- The client met the conditions for the FTA penalty waiver scheme
- The AED 10,000 penalty became eligible for waiver
- The company achieved full Corporate Tax compliance in the UAE
