FTA Urges Prompt Corporate Tax Registration Before May 31 to Avoid Penalties

The Federal Tax Authority (FTA) urges Resident Persons subject to Corporate Tax with licenses issued in January and February, and those without licenses by March 1, 2024, to submit their Corporate Tax registration applications by May 31, 2024, to avoid penalties.

Compliance with FTA Decision No. 3 of 2024 is essential, with penalties outlined in Cabinet Decision No. 75 of 2023 for violators. The deadlines apply to both juridical and natural persons.

The FTA emphasizes that Corporate Tax registration is accessible through the EmaraTax digital platform, taking four steps in about 30 minutes. VAT or Excise Tax registered users can use existing accounts for Corporate Tax registration, while new users must create a profile. Taxable Persons can also submit applications at government service centers, facilitated by trained specialists, aligning with the FTA's commitment to diverse service channels and tax compliance.

After completing the application procedures and verifying the accuracy of the data entered digitally at the service centre, FTA specialists will review the application internally. The applicant then receives their Tax Registration Number for Corporate Tax via the email address provided in their registration application.

The FTA urged Taxable Persons to examine the Corporate Tax Law, as well as executive decisions and all related guidelines, available on the FTA official website.

News Source: Emirates News Agency