FTA Holds Corporate Tax Workshop for SMEs in Ras Al Khaimah

UAE, 24 April, 2024 :  The Federal Tax Authority (FTA) conducted a workshop in Ras Al Khaimah as part of its second phase of the Corporate Tax Awareness Campaign. The session, attended by 200 SME representatives, aimed to clarify Corporate Tax obligations and facilities for small businesses under the law introduced in June 2023.

The FTA's ongoing campaign focuses on educating taxpayers about their obligations and promoting tax compliance. Zahra Al Dahmani, Director of Taxpayer Services at the FTA, praised the strong participation from businesses and the Authority’s success in enhancing tax awareness.

The workshop covered key aspects of the Corporate Tax Law, including taxable income, rates, and tax periods. It also highlighted facilities available to small businesses to reduce tax burdens and compliance costs.

The FTA emphasized the importance of timely Corporate Tax registration, particularly for businesses with licenses issued in January and February. They must register by 31 May 2024 to avoid penalties.

The FTA's initiatives, including the Muwafaq Package, aim to support SMEs and promote a dynamic economy, offering innovative solutions for tax compliance tailored to small businesses.

Source : www.tax.gov.ae