In the UAE, businesses need to hold updated tax-records to stay compliant with the Federal Tax Authority (FTA). The process of amending or updating your tax data is important, as there are adjustments that include changes in commercial enterprise call, possession, address, or activities. This service permits corporations to replace their VAT, excise, and corporate tax registrations seamlessly via the FTA’s virtual platforms. Let’s take a better look at how businesses could use the Tax Records Amendment service, the steps involved, and the common questions that arise in the process.
Service Overview
The Tax Records Amendment service permits corporations registered for VAT, excise, or corporate tax to replace and amend their info with the Federal Tax Authority (FTA). This may be performed via the EmaraTax platform or the FTA mobile app, imparting corporations a green and virtual way to hold their tax statistics current.
Channels and Working Hours
- EmaraTax Platform: Available 24/7 at your convenience.
- FTA Mobile Application: Accessible at any time, making sure you can make updates on the go.
Service Fees
The Tax Records Amendment service is given free of charge, making it a reachable device for all tax registrants.
Estimated Time for Application
- Submission Time: It ought to take around 45 minutes to finish and post the software.
- FTA Processing Time: Once the FTA gets your complete application, it usually takes 20 business days to process the request.
Required Documents for Tax Records Amendment
Depending on the type of amendment, the required files can vary. Below is a breakdown of the files required for common adjustments:
Change in Business Name or Trading Name
- A valid trade or business license.
- Additional evidence, which includes the Article of Association or any felony documentation confirming the call change.
Changes in Business Ownership
- A valid trade or commercial business license.
- Proof of possession change, which includes an up-to-date Article of association.
Change in Business Address
- A lease settlement or purchase settlement for the brand-new location.
Update to Primary Business Activity
- A valid trade business license reflecting the up-to-date commercial enterprise activity.
Other Changes
- Any different applicable documentation helping the particular change.
Accepted document codecs consist of PDF, JPG, Word, Excel, PNG, and JPEG, with a maximum document length of 5MB.
Procedures for Submitting an Amendment
The process for filing a change via the EmaraTax platform is straightforward:
- Access the EmaraTax Account: Log into your account and get entry to the dashboard.
- Select the Tax Profile: Click on “View” to get entry to your Taxable Person account.
- Choose the Tax Type: Under VAT, Excise, or Corporate Tax, choose either “Amendment” (if approval is wished) or “Edit” (if no approval is required).
- Fill in the Details: Provide the essential info and post your request.
Common Amendments
Some amendments do not require FTA approval, including:
- Business sports of the applicant.
- GCC activities.
- Customs registration info.
However, adjustments to applicant info, banking information, business relationships, and others might also additionally require FTA approval.
Terms and Conditions
To post a change, you need to be registered for VAT, excise, or corporate tax with the FTA. If extra facts are wished, the FTA might also additionally take some other 20 business days to process your software when you offer the requested files.
Conclusion
Keeping your tax records updated is important for retaining compliance with the FTA. The Tax Records Amendment service is an efficient, free, and reachable process to make certain that your commercial enterprise info is correct, whether via the EmaraTax platform or the FTA mobile app. Be sure to submit your amendments in the required timeframe and offer all the essential documentation to avoid delays. Hiring a corporate tax consultant in Dubai like ebs Chartered Accountants in Dubai can help corporations with seamless tax document amendments, making sure compliance with the FTA’s requirements. Their professional group gives guidance in filing correct documentation and managing the whole amendment process efficiently.
FAQs
What is the difference between the ‘edit’ and ‘amendment’ options?
The ‘edit’ option allows you to update your profile immediately without FTA approval, while the ‘amendment’ option requires FTA approval before the changes are reflected on your profile.
What types of changes can be made to VAT and Corporate Tax registrations?
For Corporate Tax (CT), you can update details such as entity information, ownership, business relationships, and contact details. For VAT, you can edit details like bank information without requiring approval.
What are the document requirements for submitting an amendment?
Depending on the change, you may need to provide documents like your business license, trade license, proof of ownership changes, or lease/purchase agreements. Ensure that your application matches the documents provided to avoid resubmission.
How long does it take to process an amendment and what happens after submission?
After submitting your amendment, it typically takes 20 business days for the FTA to process the application. You can track the status on your EmaraTax account. If additional information is required, it may take longer. You’ll be notified of the final decision by email.