FTA Announces Corporate Tax Registration Deadline for Early-Year License Holders
The Federal Tax Authority (FTA) has issued a reminder to all resident juridical persons with licenses issued in January and February to submit their Corporate Tax registration applications by the 31st of May 2024. This call to action is crucial to ensure compliance with the UAE’s tax regulations and to avoid potential penalties.
Deadline Details and Compliance
The FTA emphasizes that this deadline applies to all resident juridical persons, regardless of the year their license was issued. The authority has outlined that failing to register by this date could result in administrative penalties as stipulated in FTA Decision No.3 of 2024, which was enforced starting from 1st March 2024.
Understanding the Importance of Timely Registration
The FTA has stressed the importance of adhering to the specified timelines for registration to avoid penalties. This is in line with Cabinet Decision No. 10 of 2024, which imposes penalties on taxable entities that fail to meet the registration deadline. These regulations are part of a broader effort to streamline tax administration and ensure compliance across all sectors.
Registration Process Simplified
To facilitate an easy registration process, the FTA has made Corporate Tax registration available through the EmaraTax digital tax services platform. The process is straightforward and can be completed in approximately 30 minutes. Here’s a simple breakdown:
- Existing Tax Registrants: Those already registered for VAT or Excise Tax can use their existing accounts on EmaraTax to complete their Corporate Tax registration.
- New Users: New users need to create a profile on the EmaraTax platform. This involves basic steps such as providing an email address and phone number, after which they can proceed with the Corporate Tax registration.
Assistance and Support
For those who need assistance, the FTA has made provisions for support through multiple Government Service Centres across the UAE. These centers are equipped with the necessary technology and staffed by trained professionals to help guide taxpayers through the registration process.
Conclusion
The FTA’s announcement is a critical reminder for businesses to align with the UAE’s tax regulations. By setting a clear deadline and providing a streamlined registration process, the FTA aims to ensure that all eligible juridical persons are compliant with the Corporate Tax requirements. Businesses are encouraged to take immediate action to complete their registrations before the May 31st deadline to avoid any penalties and ensure smooth business operations.
