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.
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 Issuance | Deadline for Tax Registration |
|---|---|
| January 1 - January 31 | May 31, 2024 |
| February 1 - February 28/29 | May 31, 2024 |
| March 1 - March 31 | June 30, 2024 |
| April 1 - April 30 | June 30, 2024 |
| May 1 - May 31 | July 31, 2024 |
| June 1 - June 30 | August 31, 2024 |
| July 1 - July 31 | September 30, 2024 |
| August 1 - September 30 | October 31, 2024 |
| October 1 - November 30 | November 30, 2024 |
| December 1 - December 31 | December 31, 2024 |
| No license as of March 1, 2024 | 3 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.
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.
To successfully register for Corporate Tax, businesses should follow these steps:
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!
Certain entities are exempt from Corporate Tax registration, either automatically or by meeting specific criteria. These exemptions include:
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.
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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