FTA Urges March and April Licensees to Register for Corporate Tax by June 30

UAE, 24 June, 2024 :  The Federal Tax Authority (FTA) has reminded Resident Juridical Persons with licenses issued in March and April, regardless of the year, to register for Corporate Tax by 30th June 2024 to avoid AED 10,000 penalties.

This directive aligns with FTA Decision No. 3 of 2024 on the timelines for Corporate Tax registration under Federal Decree Law No. 47 of 2022. The FTA emphasized the importance of adhering to these timelines, which apply to both Resident and Non-Resident Persons.

The FTA recently issued a Public Clarification detailing the registration timelines. Resident juridical persons established before 1st March 2024 must register based on their license issuance month, even if the license is expired. Those established after 1st March 2024 have three months from incorporation to register. Foreign entities managed in the UAE have three months from their financial year-end.

Corporate Tax registration can be completed via the EmaraTax digital platform or through authorized tax agents and government service centers. The process involves creating a user account, submitting required documents, and receiving a Corporate Tax registration number upon approval. More details are available on the FTA website.

Taxable Persons are encouraged to review the Corporate Tax Law, Public Clarifications, and related guidelines to ensure compliance.

Source : www.wam.ae