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GST Review December-2024

Income Tax Update – Highlights on Recent Amendments

Sonakshi Jhunjhunwala & Sunil Jhunjhunwala
UAE: The Federal Tax Authority, released a tax guide on corporate tax returns: Dated 12th November, 2024 The Federal Tax Authority (FTA) on November 12, 2024, released a tax guide on corporate tax returns detailing the contents and procedures for filing, with the earliest returns due December 31, 2024, for taxpayers whose financial year started on or after June 1, 2023, and ended on or before March 31, 2024. Australia announces extension for CbCR filing: Dated 13th November, 2024 The Australian Taxation Office (ATO) on November 13, 2024, issued a release announcing an extension of the filing deadline for country- by-country (CbC) reporting entities for the year ended December 31, 2023. Initially, the Local files, Master files, and CbC reports were due by December 31, 2024. However, the ATO has granted a filing deferral through January 31,.......