The FTA has changed the timeline for filing the first VAT return making it easier for companies to report and comply for VAT. This change is especially significant for SMEs which might have a harder time complying with VAT than larger companies due to less resources.

The VAT Return period has been relaxed and the FTA has provided the first VAT return period from January 1^st up to May 31^st and after that the filing returns will be made quarterly. The first return will need to be filed on or before June 28^th and later returns from June 1^st up to August 31^st, September 1^st up to November 30^th etc. Continue reading →