FTA Urges Resident Juridical Persons To Register For Corporate Tax By September 30, 2024

The Federal Tax Authority (FTA) has reiterated its call for Resident Juridical Persons with licences issued in July, regardless of the year, to submit their Corporate Tax registration by 30th September 2024. This is to avoid administrative penalties. The FTA emphasised adherence to timelines outlined in FTA Decision No. 3 of 2024 concerning Corporate Tax registration under Federal Decree-Law No. 47 of 2022.

According to the FTA, Cabinet Decision No. 75 of 2023 specifies penalties for failing to register within the designated period. The decision applies to both Juridical and Natural Persons, whether Resident or Non-Resident. Resident Juridical Persons established before 1st March 2024 must register based on their licence issuance month.

For those holding multiple licences as of 1st March 2024, the deadline is determined by the earliest licence issuance date. Even if a licence expired by that date, registration deadlines remain based on the original issuance month. The FTA offers registration through EmaraTax, a digital platform available around the clock.

The EmaraTax platform simplifies registration into four steps, taking about 30 minutes. It also allows Value Added Tax or Excise Tax registrants direct access to their accounts for Corporate Tax registration and document submission. Once approved, a Tax Registration Number is issued for Corporate Tax purposes.

The FTA encourages unregistered Taxable Persons subject to Corporate Tax to create a new username on EmaraTax at eservices.tax.gov.ae using their email and mobile number. After account creation, they can complete registration by selecting ‘Register for Corporate Tax’ and following simple steps.

Alternatively, registration can be done through authorised Tax Agents listed on the FTA’s website or at government service centres nationwide. These centres offer electronic services under government standards with trained personnel overseeing operations.

Reviewing Corporate Tax Law

Once application procedures are completed and data verified electronically, specialists review applications internally. Applicants receive their Tax Registration Number directly via email as listed in their application.

The FTA urges all taxable entities subject to Corporate Tax to review relevant laws, implementing decisions, and guidelines available on its website for comprehensive understanding and compliance.

With inputs from WAM