Early registration is open to certain categories of companies doing business in the UAE from January 2023 to May 2023.
The Federal Tax Authority (FTA) has launched early corporate tax registration through EmaraTax, the UAE’s digital tax services platform. This measure is in line with Federal Decree No. 47 of 2022 on Taxation of Corporations and Businesses (Corporate Tax Law), which allows taxable persons to be subject to corporate tax from the beginning of the first financial year they begin. It is stipulated. After June 1, 2023.
The authorities explained that early registration is available from January 2023 to May 2023 for certain categories of companies operating in the UAE. These selected companies will receive an invitation from the FTA via email and SMS and will be able to register via the EmaraTax platform.
After this phase, the FTA will announce at a later date when registrations for other companies and firms will begin. FTAs allow sufficient time for businesses and companies to apply for registration and fulfill their legal obligations. Once registration opens, preference will be given to companies and firms whose fiscal year begins on his June 1, 2023.
FTA Secretary General Khalid Ali Al Bustani said: and to ensure the efficiency, accuracy and seamlessness of administrative procedures in a manner that does not affect business operations or flows. The authorities have prioritized helping all business sectors to comply with tax regulations and procedures through flexible mechanisms that are in line with international best practices. ”
“The authorities will make a dedicated effort to protect the interests of the business sector and at the same time support the national economy through balanced and transparent procedures that will enhance the competitive environment in the UAE, and will act as a partner and ally of the business sector. “I’m trying to establish myself,” he said. Conclusion.
Meanwhile, the Federal Tax Administration (FTA) will benefit from a facility to redetermine administrative penalties for tax violations to 30% of the total unpaid administrative penalties not paid by June 28, 2021. are asking registered taxpayers to do so.
The FTA will be finalized in December, the facilities have deadlines set and taxpayers eligible to benefit from the decisions will have until December 31, 2022 to apply through the EmaraTax portal to benefit from these facilities. Emphasized that all procedures to be completed must be completed.
After the deadline, tax registrants with unpaid administrative penalties before June 28, 2021 will not be eligible to use the redetermination function and will have to pay penalties in total instead of just 30%. I explained that there is. If you meet the necessary conditions within the time limit set by the Cabinet Decision on Redefining Administrative Penalties for Tax Violations in the United Arab Emirates.