The Federal Tax Authority (FTA) in the UAE has once again issued a reminder to Public Joint Stock Companies (PJSCs), Private Shareholding Companies (PSCs), limited liability companies, and private companies residing in the UAE to enrol for Corporate Tax.
This reminder holds particular significance for companies and legal entities with taxable earnings that commenced their fiscal year on the 1st of June, 2023, as the Corporate Tax Law pertains to financial years starting on or after that specific date.
Since January 2023, the FTA has been progressively opening up Corporate Tax registration, and in May 2023, it expanded the registration to PJSCs and PSCs. The FTA has committed to granting taxpayers ample time to finalize their registration and fulfil their legal obligations.
The FTA has committed to granting taxpayers ample time to finalize their registration and fulfil their legal obligations. Furthermore, it will prioritize Taxable Persons whose fiscal year began on the 1st of June, 2023, as part of its strategy to simplify the registration process.
Four easy steps to register
Registration is accessible on the EmaraTax portal via the FTA’s website 24/7. You can complete the Corporate Tax registration procedure in four straightforward steps, taking no more than 30 minutes.
A video with detailed instructions for the Corporate Tax registration process through the EmaraTax portal is accessible on the FTA’s website, according to WAM.
The developers created the EmaraTax platform following global best practices to enable all users to easily register for taxes, submit tax returns, and make payments
Taxpayers who have already registered for VAT and Excise tax can log in to their tax account on the EmaraTax portal.
Subsequently, they should choose the Taxable Person, opt for Corporate Tax registration, and proceed to complete the registration form and provide the necessary documentation.
Once the application receives approval, the system will issue a Tax Registration Number for Corporate Tax.
Taxpayers who are not registered for VAT or Excise tax must establish a new User Profile in EmaraTax via https://eservices.tax.gov.ae/ and create an account using their email address and phone number.
Once the User Profile is set up, registration can be finalized by generating a Taxable Person profile, selecting the option to register for Corporate Tax, and submitting the registration request.
Accurate data and updated documents
The FTA has underscored the importance of entering precise details in the online application form and submitting updated supporting documents.
To register Legal Persons for Corporate Tax, you must upload various documents, including a Trade Licence / Business Licence, the passport and Emirates ID of the authorized signatory, and proof of authorization for the said signatory (POA/MOA).
Furthermore, the FTA has specified that the ownership percentages must align accurately with the actual shares when completing the application form, and the incorporation date should match the company’s commencement date as stated in the Memorandum of Association (MOA). Additionally, the relevant tax period for the entity in question must be provided.
Entities interested in establishing a Corporate Tax Group must individually register and obtain a Tax Registration Number first. Subsequently, they can apply to create a Corporate Tax Group at a later date, a process that the FTA will announce.
Comprehensive awareness
Recently, the FTA initiated an extensive awareness initiative aimed at enhancing Corporate Tax understanding within the UAE’s business community.
This initiative will continue until the end of the year. It encompasses a series of awareness sessions and workshops conducted across all Emirates, where FTA representatives delve into Corporate Tax Law and the procedures that encourage self-compliance.
Additionally, the campaign features a comprehensive set of Corporate Tax awareness webinars accessible on the FTA’s website.
In June, the FTA introduced a dedicated awareness platform designed to provide knowledge and assistance to taxpayers and the business community.
