Corporate Tax Consultancy in Dubai
UAE Corporate Tax Registration – The ultimate guide to Register
January 20, 2023
UAE Corporate Tax Registration : UAE corporate tax is a significant business initiative. The solution for preparing for the UAE corporate tax is to understand the administrative requirements such as tax registration, de registration, filing of corporate tax returns, and payment. Consultating with a corporate tax consultant in Dubai helps business owners to have a prior understanding of compliance related requirements. Failing to comply with these requirements may attract hefty penalties in the UAE.
Taxpayers will be required to register for UAE Corporate Tax (CT) and update their details, if required, even if they are already registered for VAT.
UAE Corporate Tax Registration : How and When to Register ?
Corporations in UAE have to register with the Federal Tax Authority and get a corporation tax registration ID or number.
The UAE Corporate tax registration applies to all businesses whether they are subject to 0 percent or 9 percent corporation tax. Depending on your business needs, you can choose from a list of corporate tax advisors in UAE who help you with all types of tax registration.
Taxpayers will be able to electronically register for UAE CT through the website of the Federal Tax Authority. Further guidance on this will be provided in due course.
Check back later here for the UAE CT registration link
What Are the Requirements for Corporate Tax De registration?
You must register for corporate tax if your business is a corporation. You may be required to deregister your business when it ceases to be subject to corporate tax. You must apply to the FTA within three months from the date of cessation. The FTA will deregister your business if it is satisfied that you have filed corporate tax returns and settled all of its corporate tax liabilities and penalties that are due for all periods up to and including the date of cessation.
The UAE Corporate Tax Return Filing Process
The FTA provides for a single, consolidated corporate tax return to be filed by eligible businesses, rather than requiring them to file multiple returns. This consolidated return must be filed within nine months of the end of each relevant tax period.
To find out more about e-filing corporate tax returns in the UAE, Please contact us : Saif Chartered Accountants, Dubai, UAE.
UAE Corporate Tax deadlines
The corporate tax regime is based on a self-assessment principle which means businesses are responsible for ensuring that the documents they submit to the FTA are correct and comply with the law.
The new UAE corporate tax regime allows taxpayers up to 21 months from the start of their financial year to prepare for filing and making their tax payments.
For example, businesses with a financial year starting on June 1, 2023, and ending on May 31, 2024, have until February 28, 2025 to file their corporate tax returns and make their payments.
For a business whose first tax period begins on January 1, 2024 and ends on December 31, 2024, the return and payment must be filed between January 1 and September 30, 2025.
Make sure to choose the best corporate tax consultants in Dubai, UAE.
Our tax consultants have extensive experience in corporate taxation, and can provide you with the best advice for your particular business.
As the UAE corporate tax regime is scheduled to come into effect from June 1st, businesses should plan ahead and conduct high-level assessments and reviews of their systems. Given the profound implications of this upcoming tax, businesses can seek help from a reputable tax consultant in Dubai.
Our corporate tax consultants at Saif Chartered accountants, an independent member of SGA World can help with a variety of matters, including CT Assessment and Advisory Services, CT Compliance Services, and CT Agent Services.
UAE Corporate Tax Registration -FAQs
A self-assessment regime is one where taxpayers are responsible for calculating, reporting and paying their taxes.
All taxpayers, as prescribed by the Minister, will be required to register for UAE CT and obtain a Corporate Tax Registration Number. The Federal Tax Authority may also request certain Exempt Persons to register for UAE CT.
Taxpayers are required to register before they file their first CT return.
There is no registration threshold for UAE CT.
Yes. Taxpayers will be required to register for UAE CT (and update their details, if required), even if they are already registered for VAT.
Taxpayers are required to file a CT return, irrespective of the level of income or the status of the company.
Only one UAE CT return will need to be filed per Tax Period. The CT return will generally be due within 9 months following the end of the Tax Period. No provisional or advance UAE CT filings will be required.
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SGA SAIF has a team of corporate tax advisors in Dubai who can assist businesses with the complexities of the corporate tax regime.
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