The Federal Tax Authority (FTA) of the UAE has issued an urgent reminder for Resident Juridical Persons with licenses issued in October and November to finish their corporate tax registration by 30 November 2024. This directive is a part of the FTA’s ongoing efforts to ensure compliance with the recently carried out corporate tax framework established under Federal Decree-Law No. 47 of 2022.
Key Details
- Registration Deadline: Juridical persons have to publish their corporate tax registration applications through November 30, 2024. This applies to all licenses issued in October and November, irrespective of the year of issuance.
- Compliance Requirements: The FTA emphasizes adherence to the timelines mentioned in FTA Decision No. 3 of 2024. Failure to sign up within the stipulated time frame can also additionally bring about administrative penalties as specified in Cabinet Decision No. 75 of 2023, which governs violations associated with Corporate Tax.
- Registration Process: The registration may be finished through the EmaraTax virtual platform; that’s to be had 24/7. The procedure has been simplified into 4 principal steps, taking about 30 minutes to finish. Users can create an account using their e-mail and cell number, choose the ‘Register for Corporate Tax’ option, and observe the prompts.
- Multiple Licenses: For entities keeping more than one license as of March 2024, the registration closing date may be decided through the earliest license issuance date. If a license has expired as of this date, the utility closing date stays primarily based totally on when that license was first issued.
Importance of Compliance
The FTA’s reminder underpass the importance of timely registration for companies running within the UAE. Non-compliance not only presents risk of severe consequences i.e penalties, however additionally complicates tax duties transferring forward. The FTA encourages all affected entities to familiarize themselves with the corporate tax law and associated suggestions to be had on their website.
In summary, resident judicial persons have to act hastily to make certain they meet the approaching closing date for corporate tax registration to keep away from consequences and make certain compliance with UAE tax guidelines.
Key Takeaways
The Federal Tax Authority (FTA) has set a closing date of November 30, 2024, for resident judicial persons with licenses issued in October and November to sign up for corporate tax. ebs Chartered Accountants in Dubai can offer vital help to companies navigating this registration procedure and making sure compliance with UAE tax laws.
How can ebs Chartered Accountants Help?
ebs chartered accountants in Dubai give complete help in expertise the corporate tax registration necessities and deadlines. Their group can help companies decide the precise timeline primarily based totally on their license issuance date and make certain that every important document is ready accurately.
- Streamlined Registration Process: With good expertise in managing company tax matters, they can facilitate the registration procedure through the EmaraTax platform. They can manual customers step-through-step, making sure that packages are submitted successfully and on time to keep away from consequences.
- Tax Compliance and Planning: They offer ongoing help in tax compliance, assisting companies to recognize their duties below the brand new corporate tax regime. This consists of recommendations on submitting necessities, capability exemptions, and making plans and techniques to optimize tax liabilities.
- Access to Professional Resources: Clients of EBS gain from a group of certified specialists with good expertise in accounting, auditing, and tax services. This know-how is important for navigating the complexities of company tax guidelines effectively.
- Technology Integration: They make use of superior generation answers to beautify performance in economic management. They can help companies integrate accounting software programs that align with their tax reporting needs, making sure correct record-keeping.
- Training and Support: They additionally give schooling packages for teams of workers to make certain they’re well-prepared to manipulate tax-associated duties and recognize the consequences of company tax on enterprise operations.
FAQs
Who needs to register for Corporate Tax by November 2024?
Resident juridical persons with licenses issued in October or November 2024 must register.
What is the deadline for registration?
The registration deadline for affected businesses is the end of November 2024.
How can I register for Corporate Tax?
Businesses can complete the registration process through the UAE Federal Tax Authority’s official portal.
What happens if we miss the registration deadline?
Failure to register by the deadline may result in penalties or non-compliance issues.