FTA Urges Corporate Tax Registration for October and November License Holders

Photo : WAM

The Federal Tax Authority (FTA) has announced an important directive for Resident Juridical Persons that holds significant implications for businesses licensed in October and November. All such entities, regardless of the year of issue, are required to submit their Corporate Tax registration applications by the deadline of 30 November 2024. This announcement comes in light of FTA Decision No. 3 of 2024, which operates under Federal Decree-Law No. 47 of 2022. This law outlines the registration timelines applicable to various categories of Taxable Persons.

Entities that do not comply with this directive may face administrative penalties as stipulated in Cabinet Decision No. 75 of 2023. These penalties will apply to both Resident and Non-Resident Juridical Persons as well as Natural Persons. Furthermore, it is crucial to note that any businesses holding multiple licenses as of 1 March 2024 must register based on the earliest issued license, even if some of those licenses have since expired.

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The FTA has made the registration process accessible through its EmaraTax platform, which operates 24/7. This online platform allows users to complete the Corporate Tax registration process in approximately 30 minutes. For those already registered for VAT or Excise Tax, they can easily log into their existing accounts on EmaraTax. New users will need to create an account, which involves setting up a username using their email address and mobile number.

In addition to online registration, Taxable Persons have the option to seek assistance from authorized Tax Agents or visit government service centers located throughout the UAE for guidance. To ensure compliance and facilitate the registration process, the FTA strongly encourages all Taxable Persons to thoroughly review the relevant Corporate Tax Law and associated guidelines, which are readily available on the FTA's official website at tax.gov.ae. This proactive approach is essential for businesses to avoid penalties and ensure their compliance with the UAE's tax regulations.