With the aid of EmaraTax platforms’ digital tax services, the Federal Tax Authority (FTA) has initiated an early registration period for corporate tax.
This early registration corresponds to Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, which requires the Taxable Persons to pay Corporate Tax from June 01st onwards, which would ideally be the beginning of their first financial year.
The authority has reminded that, due to categorization, a chosen set of UAE companies will be exposed to the early registration period for 5 months (January - May 2023).
FTA will invite these selected companies using email and SMS, which will then follow the process of registering through the EmaraTax platform. https://tax.gov.ae/en/emaratax.aspx
After some time, FTA will announce the date for the other companies and businesses to register. FTA will allocate enough time to register and meet legal obligations.
One crucial factor to note is that the companies and businesses starting their financial year from June 01st, 2023, will be given priority once the registration opens.
The authority is open to feedback and suggestions during this process to enable continuous improvements and changes for the procedure's success.
FTA Director General His Excellency Khalid Ali Al Bustani said: “Since the announcement of corporate tax in the UAE, the Federal Tax Authority has intensified its efforts, in collaboration with the competent authorities, to develop procedures to implement it in accordance with the highest standards and to ensure the efficiency, accuracy, and seamlessness of administrative procedures, in a way that will not impact business operations and flow.
The Authority prioritizes supporting all business sectors to comply with tax regulations and procedures through flexible mechanisms that align with international best practices.”
The FTA will provide more information on the corporate tax registration process in the future. In the meantime, for further details on Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses,
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