The UAE’s Federal Tax Authority has begun early registration for corporate tax through its digital tax platform, EmaraTax, in accordance with the Corporate Tax Law, which states that companies will be subject to Corporate Tax as of their first financial year starting on or after June 1, 2023.
Early registration is available from January to May 2023 for specific types of companies operating in the UAE. The FTA will send invites to these chosen businesses via email and SMS, allowing them to register using the EmaraTax platform. The FTA will make sure to allow organisations and businesses enough time to submit registration applications and fulfill their legal requirements.
Priority will be given to organisations and corporations whose fiscal year begins on June 1, 2023, when registration opens. “Since the announcement of the corporate tax in the UAE, the Federal Tax Authority has intensified its efforts, in collaboration with the competent authorities, to develop procedures to implement it in accordance with the highest standards, and to ensure the efficiency, accuracy, and seamlessness of administrative procedures, in a way that will not impact business operations and flow,” said FTA Director-General Khalid Ali Al Bustani.
“The authority prioritises supporting all business sectors to comply with tax regulations and procedures through flexible mechanisms that align with international best practices,” he said. “The authority is committed to positioning itself as a partner and ally to business sectors, making dedicated efforts to safeguard their interests and support the national economy at the same time through balanced and transparent procedures that strengthen the UAE’s competitive environment,” he concluded.