Dubai: Do not delay registering for the corporate tax filings – that’s the message UAE’s FTA (Federal Tax Authority) is giving to listed companies and private businesses alike with their financial years starting June 1, 2023.
The registration process for the UAE Corporate Tax was launched in June, and according to tax industry sources, the process has been going smoothly. But the FTA wants all corporate entities with their financial year from June to end May to have all their paperwork processing done pronto.
These companies will have until February 2025 to pay their corporate tax obligations for the current financial year. (Having said that, there are few companies in the UAE that operate under the June-to-May financial year regime. The preference is for the January-to-December or the 12-month period starting April 1.)
A 4-step registration
Registration can be done through the EmaraTax portal on the FTA website.
“The corporate tax registration process can be done in four clear and simple steps, taking no longer than 30 minutes,” says the Authority.
Those who are already registered for VAT and excise tax can log in to their tax account on the EmaraTax portal. They will then need to select the ‘taxable person’, select the option to register for corporate tax and proceed with filling the registration form and providing documentation.
Once the application is approved, a Tax Registration Number for corporate tax will be issued.
Taxpayers who are not registered for VAT or Excise tax will need to create a new User Profile in EmaraTax using the link ‘eservices.tax.gov.ae’ and create an account using their email ID and phone number. Once the user profile is created, registration can be completed by creating a taxable person profile, selecting the option to register for corporate tax and applying for registration.
More to follow...