FTA Calls On Resident Juridical Persons To Register For Corporate Tax Before Deadline Of 31st October 2024

The Federal Tax Authority (FTA) has reminded Resident Juridical Persons with licences issued in August and September to register for Corporate Tax by 31st October 2024. This deadline applies regardless of the year the licence was issued. Missing this deadline could result in administrative penalties.

According to FTA Decision No. 3 of 2024, all Taxable Persons must adhere to specific timelines for Corporate Tax registration. This is in line with Federal Decree-Law No. 47 of 2022, which governs corporate taxation and its amendments effective from 1st March 2024.

The FTA has outlined deadlines for different categories of Taxable Persons to submit their Corporate Tax registration applications. Cabinet Decision No. 75 of 2023 specifies penalties for failing to meet these deadlines under the Federal Decree-Law on corporate taxation.

This requirement affects both Juridical and Natural Persons, whether they are Resident or Non-Resident. Juridical Persons established before 1st March 2024 must register based on the month their licence was issued, irrespective of the year.

For those holding multiple licences as of 1st March 2024, the registration deadline is determined by the earliest licence issuance date. Even if a licence expired by this date, the registration deadline remains based on its issuance month.

The EmaraTax digital platform facilitates Corporate Tax registration, accessible anytime. The process involves four main steps and takes about 30 minutes. Those registered for Value Added Tax or Excise Tax can use their existing accounts to register for Corporate Tax.

Registration Process Through EmaraTax

The FTA encourages unregistered Taxable Persons to create a new username on EmaraTax 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 across the UAE. These centres provide electronic services under government standards with trained personnel overseeing them.

Obtaining a Tax Registration Number

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

The FTA's streamlined process ensures efficient registration while emphasising adherence to specified timelines to avoid penalties. This initiative aims to facilitate compliance among businesses operating within the UAE's tax framework.

With inputs from WAM