GTA extends deadline for filing tax returns to May 31

General Tax Authority (GTA) has extended the deadline for submitting the tax returns for 2022 for all entities subject to the income tax law by one month to May 31.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, GTA said in a statement on Thursday.GTA said 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. This, GTA noted, results in avoidance of being exposed to financial penalties.GTA explained that companies benefit greatly from the tax system due to the consequent enhancement of their efficiency and governance.