The UAE has issued a corporate tax warning
25 Sep 2023
The UAE Federal Tax Authority urges businesses to register for Corporate Tax in order to avoid missing deadlines.
The UAE has pushed businesses to register for corporation tax in the nation.
The Federal Tax Authority (FTA) of the UAE has requested that all public joint stock companies (PJSCs), private shareholding companies (PSCs), limited liability companies, and private enterprises based in the UAE register for Corporate Tax.
The call is especially significant for UAE corporations and legal entities with taxable revenue whose fiscal year began on or after June 1, 2023, since the Corporate Tax Law applies to fiscal years commencing on or after that date.
UAE Corporate Tax 2023
Since January 2023, the FTA has been gradually opening up Corporate Tax registration, and in May 2023, it allowed registration to PJSCs and PSCs.
As part of its goal to simplify the registration process, the FTA has committed to giving taxpayers enough time to complete registration and satisfy their legal duties, and it will prioritize Taxable Persons whose fiscal year began on June 1, 2023.
Registration is always available on the FTA's website via the EmaraTax portal.
The Corporate Tax registration procedure may be completed in four simple stages in about 30 minutes.
The FTA website has a video with thorough instructions on the Corporate Tax registration process using the EmaraTax portal. The EmaraTax platform was created using worldwide best practices to help all users with tax registration, filing, and payment.
Taxpayers who are already enrolled for VAT and Excise tax can access their tax accounts using the EmaraTax site.
They must then choose the Taxable Person, choose the option to register for Corporate Tax, and complete the registration form and provide the relevant papers.
Once the application is granted, a Tax Registration Number for Corporate Tax will be provided.
Taxpayers who are not registered for VAT or Excise tax must create a new User Profile in EmaraTax and sign up for an account using their email address and phone number.
After creating a User Profile, you may complete registration by creating a Taxable Person profile, selecting the option to register for Corporate Tax, and applying for registration.
The FTA has emphasized the need of providing up-to-date supporting papers and entering accurate information into the online application form.
Corporate Tax Registration for Legal Persons necessitates the submission of several papers, including:
- Business license/trade license
- Passport and Emirates ID of the authorized signatory Proof of permission for the authorized signatory (POA/MOA)
The program consists of a series of awareness sessions and workshops held throughout all Emirates in which FTA representatives outline the Corporate Tax Law and self-compliance methods.
The program also includes an integrated series of Corporate Tax Awareness webinars, which are available on the FTA website. The FTA developed a dedicated awareness portal in June to educate and help taxpayers and the business community.
Virtual workshops on 'Corporate Tax Registration' were presented in Arabic and English, covering crucial themes such as creating a new user profile on the EmaraTax site, the papers necessary, processing registration applications, and receiving a UAE Corporate Tax Registration Number.
