The Director General of the Income and Sales Tax Department (ISTD), Husam Abu Ali, has decided to extend the deadline for replacing preliminary financial statements with formal, audited ones for the 2025 fiscal year until May 24, 2026. This extension is granted on the condition that the tax return is filed within the legal deadline, accompanied by the draft preliminary financial statements.
اضافة اعلان
Objectives of the Extension
This move aims to accelerate the submission of 2025 income tax returns and the payment of declared taxes before General Assemblies finalize and approve the financial statements.
The ISTD confirmed that the extension was granted to allow auditors and tax experts to complete all necessary procedures and requirements. It specifically applies to the submission of audited financial statements for companies, acknowledging that many General Assemblies have not yet convened to formally approve their final accounts.
Deadlines and Penalties
The department emphasized that this extension does not include the legal deadline for filing income tax returns or preliminary financial data. Key points include:
Final Deadline: The period for filing income tax returns and paying due taxes ends on April 30, as stipulated by law, and will not be extended.
Compliance: Taxpayers are urged to submit their returns and preliminary data electronically before the deadline to avoid legal violations and fines.
Fines: Failure to file on time results in an additional tax penalty for non-submission, plus a late payment fee of 0.4% (4 per mille) of the tax due for every week of delay or part thereof.
Facilitating Taxpayer Obligations
The ISTD reiterated its commitment to helping taxpayers and auditors fulfill their obligations within the legal framework. It called on all parties to utilize available electronic services to submit returns and preliminary statements and to settle their liabilities easily before April 30—the final legal deadline for the 2025 fiscal year tax returns.
