GTA extends deadline to submit tax return till May 31

The General Tax Authority (GTA) has extended the deadline for submitting the tax return for 2022 for all entities subject to the income tax law for one additional month to end on May 31, 2023.

The GTA pointed out that it has always sought to enhance the principle of tax compliance among taxpayers, stressing the importance of the commitment of all companies in the country to submitting tax returns on time, as that results in the avoidance of being exposed to financial penalties.

The GTA explained that companies benefit greatly from the tax system due to the consequent enhancement of their efficiency and governance.

Excluded from this extension are companies operating in the field of petroleum operations and petrochemical industries, in addition to taxpayers who have accounting periods different from the tax year defined in Article (1) of the Income Tax Law promulgated by Law (24) of the year 2018 and its amendments, the GTA indicated in its statement on Thursday.