FTA Urges Juridical Persons to Register for Corporate Tax by October 31

The Federal Tax Authority (FTA) has issued an urgent reminder for Resident Juridical Persons, regardless of the year their licenses were issued, to submit their Corporate Tax registration applications by October 31, 2024. This call aims to prevent administrative penalties for non-compliance.

In a recent press statement, the FTA highlighted the importance of adhering to timelines set forth in FTA Decision No. 3 of 2024, part of the Federal Decree-Law No. 47 of 2022, which governs the taxation of corporations and businesses. These regulations became effective on March 1, 2024, and establish specific deadlines for different categories of Taxable Persons.

According to Cabinet Decision No. 75 of 2023, failure to register within the stipulated time will result in administrative penalties. The FTA clarified that this registration requirement applies to both Juridical and Natural Persons, whether they are Resident or Non-Resident. Juridical Persons incorporated before March 1, 2024, must register according to the month their license was issued.

Taxable Persons with multiple licenses should register based on the earliest issuance date. Notably, even if a license is expired as of March 1, 2024, the registration deadline remains tied to its issuance month.

The FTA encourages Taxable Persons to utilize the EmaraTax digital platform for a streamlined registration process, which can be completed in approximately 30 minutes. The platform is available 24/7 and offers comprehensive services, including direct registration for Value Added Tax and Excise Tax registrants.

Taxable Persons can also register through authorized Tax Agents or at various government service centers across the country, ensuring a smooth application process.

News Source: Emirates News Agency