To avoid administrative penalties, the Federal Tax Authority (FTA) is urging resident juridical persons holding licenses issued in July, regardless of the year of issuance, to file their corporate tax registration application as soon as possible by September 30, 2024.
For the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its amendments, which went into effect on March 1, 2024, the FTA advised Taxable Persons to follow the deadlines specified in FTA Decision No. 3 of 2024 on the Timeline specified for Registration of Taxable Persons for Corporate Tax, according to a press release released on Monday.
The FTA Decision stipulates when each type of taxable person subject to corporate tax must submit their application for corporate tax registration.
The FTA stated that Taxable Persons who do not comply with submitting their Corporate Tax registration application within the time periods specified in the FTA Decision will be subject to an Administrative Penalty under Cabinet Decision No. 75 of 2023 on the Administrative Penalties for Violations Related to the Application of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, and its amendments.
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