Thursday, May 23, 2024
Today’s News

According to the FTA, New UAE Businesses must Apply by May 31.

To comply with the tax code, the Federal Tax Authority (FTA) has requested that resident juridical persons who are taxable persons for corporate tax purposes and who have licenses issued in January or February (regardless of the year of issuance) submit their applications for corporate tax registration by May 31, 2024, at the latest.
The Authority emphasized the significance of submitting Corporate Tax registration applications within the time frames given in FTA Decision No. 3 of 2024, which went into effect on March 1, 2024, in a press release released today. The statement took into account that Cabinet Decision No. 10 of 2024 imposed an administrative penalty on the taxable person who failed to submit a registration application within the allotted period.

The EmaraTax digital tax services platform is always open for Corporate Tax registration, the FTA emphasized. It stated that registering entails four processes and takes about thirty minutes. For added convenience, taxable individuals who have already registered for Excise Tax or Value Added Tax (VAT) can access their EmaraTax accounts, fill out the Corporate Tax registration request, and send in the necessary paperwork. A Tax Registration Number (TRN) will be provided to applicants for Corporate Tax purposes upon approval of their registration request.

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Thursday, May 23, 2024

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