With the first entities in the UAE having completed two corporate tax returns, many will feel it is time to look again at their fiscal year. This is the period they report financials for, and some are considering changing it.
The process of registration was unclear to many when corporate tax began. Twelve-month periods were the only options available, and this remains the case on the Federal Tax Authority portal.
June 2023 was the first month it applied, so this left many wondering what to do if their official year began in March and finished in the following February.
Would two sets of accounts be required: one for the
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