The UAE Council of Ministers on Monday has announced the penalties for violations of the country’s tax law.
The Council’s meeting was chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The Cabinet decision states that a fine must be no less than Dh500 and no more than triple the value of the tax on the transaction in question.
In the case of a business failing to keep the required records and other information specified in the tax laws, the business will be fined Dh10,000 the first time and Dh50,000 for a repeat offence