Register By July 31: FTA's Corporate Tax Deadline For May-Licensed Businesses

The Federal Tax Authority (FTA) has urged Resident Juridical Persons with licences issued in May to submit their Corporate Tax registration applications by 31st July 2024. This reminder aims to boost awareness and compliance among those subject to Corporate Tax.

According to the FTA, missing the registration deadline will incur an Administrative Penalty of AED 10,000. The deadlines are outlined in FTA Decision No. 3 of 2024 and have been shared via social media and local media channels.

The FTA's Public Clarification on Registration Timelines offers detailed guidance on submission deadlines for various categories of Taxable Persons. It includes practical examples to help understand the requirements and details for juridical persons seeking exempt status under the Corporate Tax Law.

Corporate Tax registration can be completed through the "EmaraTax" digital platform, which is available 24/7. The process involves four steps and takes about 30 minutes. Users need to create an account using an email and phone number, submit necessary documents, and await approval.

The required documents include a commercial licence, Emirates ID card, passport of the authorised signatory, and proof of authorisation. Accurate information and updated supporting documents are crucial for successful registration.

FTA's Commitment to Education

The FTA is dedicated to educating Taxable Persons about Corporate Tax registration procedures through various awareness campaigns. These include workshops, virtual webinars, guides, educational videos, and other methods designed to clarify registration requirements.

The FTA also enables registration through authorised tax agents listed on its website and Government Service Centers nationwide. These centres provide electronic services based on high government standards managed by trained personnel.

To further support compliance, the FTA encourages all Taxable Persons to review the Corporate Tax Law, implementing decisions, Public Clarification on Registration Timelines, and related guides available on its website at https://tax.gov.ae/ar/default.aspx.

"The FTA emphasised the importance of meeting the specified registration deadlines for each category as detailed in the FTA Decision No. 3 of 2024," stated an official press release from the authority.

The FTA reaffirmed its commitment to fostering tax compliance by diversifying service delivery channels. This includes enabling registrations through authorised tax agents and Government Service Centers that adhere to high standards of service quality.

With inputs from WAM