Tax Authority Urges PJSCs and PSCs to Register for Corporate Tax, Especially Those with June Fiscal Year Start
The Tax Authority is calling on Public Joint Stock Companies (PJSCs) and Private Shareholding Companies (PSCs) to register for Corporate Tax, particularly emphasizing those whose financial year began on June 1st.
Streamlined Registration Process
The registration process, outlined in Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, is designed to be straightforward and efficient, with resources available to guide companies through the process on the EmaraTax portal.
Priority for June Starters
The Tax Authority is prioritizing companies whose financial year commenced on June 1, 2023, encouraging them to register promptly to fulfill their legal obligations and benefit from the Authority’s facilitative approach.
Four-Step Registration on EmaraTax
Registering for Corporate Tax is a simple four-step process on the EmaraTax portal, which is available around the clock on the FTA’s website. The process is designed to take less than 30 minutes and is supported by a detailed instructional video on the FTA’s website.
For VAT and Excise Tax Registrants
Taxpayers already registered for VAT and Excise Tax can directly log into their tax account, select the option to register for Corporate Tax, and complete the registration form with the necessary documentation to receive their Corporate Tax Registration Number.
For New Registrants
New taxpayers must create a User Profile on EmaraTax and proceed to create a Taxable Person profile before applying for Corporate Tax registration.
Documentation Accuracy
The Tax Authority underscores the importance of providing accurate information and up-to-date supporting documents during the registration process. Required documents include a Trade/Business License, authorized signatory’s identification, and proof of authorization.
Corporate Tax Group Formation
Entities intending to form a Corporate Tax Group must first register individually to obtain a Tax Registration Number and may apply for group formation at a later date specified by the FTA.
Ongoing Corporate Tax Awareness
The Tax Authority has initiated a comprehensive awareness campaign to educate the UAE’s business community on Corporate Tax. This campaign, which will run until year’s end, includes awareness sessions, workshops, and webinars covering the Corporate Tax Law and self-compliance processes.
Virtual Workshops and Support
In addition to the campaign, the Tax Authority has launched a dedicated awareness platform providing virtual workshops on ‘Corporate Tax Registration’ in both Arabic and English, covering essential registration topics and documentation.
