May 15, 2024

The FTA Deadlines for Tax Registration

In a significant move to streamline the taxation process, the UAE's Federal Tax Authority (FTA) has set out specific deadlines for businesses to register for Corporate Tax, effective from March 1, 2024. They are closing the gap for newly licensed businesses, and it's important to be aware of the deadlines that could affect your business. Ensuring compliance with these deadlines is critical, as non-compliance can lead to substantial penalties. This article provides a detailed overview of the registration process, key deadlines, exemptions, and penalties to help businesses navigate these new regulations.

Key Corporate Tax Registration Deadlines

The deadlines for Corporate Tax registration are based on the date of license issuance. Here is a detailed table outlining these deadlines:

Date of License IssuanceDeadline for Tax Registration
January 1 - January 31May 31, 2024
February 1 - February 28/29May 31, 2024
March 1 - March 31June 30, 2024
April 1 - April 30June 30, 2024
May 1 - May 31July 31, 2024
June 1 - June 30August 31, 2024
July 1 - July 31September 30, 2024
August 1 - September 30October 31, 2024
October 1 - November 30November 30, 2024
December 1 - December 31December 31, 2024
No license as of March 1, 20243 months from date of this decision

For juridical persons incorporated, established, or recognised after March 1, 2024, the registration must be completed within three months from the date of incorporation, establishment, or recognition​.

Penalties for Non-Compliance

Businesses that fail to register within the specified deadlines will incur a penalty of AED 10,000. This measure underscores the importance of adhering to the registration timelines to avoid unnecessary financial repercussions.

Registration Process

To successfully register for Corporate Tax, businesses should follow these steps:

  1. Prepare Required Documents: Gather all necessary documents, including business licenses, financial statements, and other relevant documentation.
  2. Online Submission: Register through the FTA's online portal by submitting the completed registration application.
  3. Verification and Approval: Await confirmation from the FTA and receive a Tax Registration Number (TRN) upon successful verification.

It is advisable to ensure the accuracy and completeness of all submitted information to avoid delays or rejections. If you aren't sure how to proceed with your tax registration or are confused by the deadlines, please get in touch with our corporate services experts who have helped many businesses achieve tax compliance. We save time and hassle for you!

Exemptions from Corporate Tax

Certain entities are exempt from Corporate Tax registration, either automatically or by meeting specific criteria. These exemptions include:

  • Government Entities: Exempt unless conducting taxable business activities.
  • Government-Controlled Entities: Exempt with notification to the Ministry of Finance.
  • Extractive and Non-Extractive Natural Resource Businesses: Typically exempt.
  • Qualifying Public Benefit Entities: Exempt if they meet certain government-set criteria.
  • Investment Funds and Pension Funds: May be exempt if recognised by a Cabinet Decision​

Support for Businesses

Navigating the complexities of Corporate Tax registration can be challenging. Prism 7 Corporate Services is here to assist businesses in ensuring their registration is accurate and completed on time. Our experts can guide you through each step of the process, providing tailored advice to meet your specific needs.

Conclusion

The new Corporate Tax registration deadlines set by the UAE's Federal Tax Authority are a critical compliance requirement for businesses. By understanding these deadlines, the penalties for non-compliance, and the registration process, businesses can ensure they meet all obligations and avoid financial penalties. For personalised assistance and to ensure your business is fully compliant, contact Prism 7 Corporate Services today.

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