FTA Urges Businesses To Register For Corporate Tax By September 2024 Deadline

The Federal Tax Authority (FTA) has called on Resident Juridical Persons with licences issued in July, regardless of the issuance year, to submit their Corporate Tax registration applications by 30th September 2024. This is to avoid administrative penalties.

The FTA emphasised the importance of adhering to the timelines specified in FTA Decision No. 3 of 2024. This decision outlines deadlines for each category of taxable persons under Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, effective from 1st March 2024.

According to Cabinet Decision No. 75 of 2023, administrative penalties will be imposed on those who fail to comply with the specified registration deadlines. The FTA highlighted that this applies to both juridical and natural persons, whether resident or non-resident.

Corporate Tax registration is available through the EmaraTax digital tax services platform, accessible at all times. The streamlined process involves four main steps and takes about 30 minutes to complete. Registrants for Value Added Tax or Excise Tax can use their existing accounts to register for Corporate Tax.

The FTA advised taxable persons who have not yet registered to create a new username on EmaraTax using their email address and mobile number. Once the account is created, they can complete registration by selecting ‘Register for Corporate Tax’ and following the remaining steps.

Multiple Licences and Expired Licences

For those holding multiple licences as of 1st March 2024, the deadline is based on the earliest licence issuance date. If a licence expired before this date, the registration deadline still depends on the original issuance month.

The FTA clarified that juridical persons incorporated or recognised before 1st March 2024 must submit their Corporate Tax registration according to the month their licence was issued, regardless of the year.

Alternative Registration Methods

Taxable persons can also register through authorised tax agents listed on the FTA’s website or at various government service centres across the country. These centres provide electronic services under government standards and are supervised by qualified individuals.

Once application procedures are completed and data verified electronically, specialists review the application internally. The applicant then receives their Tax Registration Number directly via email.

Reviewing Corporate Tax Law

The FTA urged all taxable persons subject to Corporate Tax to review the Corporate Tax Law and related guidelines published on its website. This ensures compliance with all regulations and helps avoid potential penalties.

With inputs from WAM