FTA Clarifies Corporate Tax Registration Deadlines for Taxable Persons

UAE, 19 June, 2024 : The Federal Tax Authority (FTA) has issued a Public Clarification on the registration timelines for taxable persons under the Corporate Tax regime. This clarification aims to ensure transparency and compliance by detailing specific deadlines for various categories of taxable persons.

The FTA emphasized that this clarification, effective from 1 March 2024, does not amend any existing legislation. It highlights deadlines for both resident and non-resident persons, including juridical and natural persons, and outlines the registration requirements for those seeking exempt status under the Corporate Tax Law.

Key points include:

Resident Juridical Persons: Must submit their tax registration based on their license issuance month. If unlicensed or holding an expired license by 1 March 2024, the deadline is 31 May 2024.

New Juridical Persons: Incorporated or recognized after 1 March 2024, must register within three months of their establishment.

Non-Resident Juridical Persons: With a permanent establishment before 1 March 2024, must register within nine months of the establishment's recognition. Those with a nexus in the UAE must register by 31 May 2024.

Natural Persons: Resident persons must register if their business turnover exceeds AED 1 million within a year, with a registration deadline of 31 March of the following year. Non-residents must register within three months of meeting the turnover threshold.

Non-compliance with these deadlines will result in an AED 10,000 penalty. The FTA encourages all taxable persons to review the Public Clarification to ensure timely registration and compliance.

Source : www.tax.gov.ae