Federal Tax Authority Announces Critical Deadline for Corporate Tax Registration



The Federal Tax Authority (FTA) has issued a vital reminder to businesses across the United Arab Emirates, particularly pointing to juridical persons who acquired their business licenses in January and February. The authority mandates that these entities must submit their Corporate Tax registration applications by May 31, 2024. This critical deadline is part of the FTA’s ongoing efforts to streamline tax administration and ensure compliance across the corporate sector.

Implications for Businesses

The FTA’s announcement affects all juridical persons that are subject to Corporate Tax and had their licenses issued within the specified months, regardless of the year. Additionally, entities without a license as of March 1, 2024, are also required to comply. Failure to meet the registration deadline may result in administrative penalties as outlined in Cabinet Decision No. 75 of 2023. These penalties are part of the enforcement provisions under Federal Decree-Law No. 47 of 2022, which addresses the taxation of corporations and businesses.

Registration Process Simplified

Recognizing the challenges that businesses may face during this process, the FTA has streamlined the registration steps. Entities can complete their registration through the EmaraTax platform, a digital service that allows for an efficient four-step process, taking approximately 30 minutes. Existing taxpayers, already registered for VAT or Excise Tax, can use their current accounts to submit their Corporate Tax registration.

For new taxpayers, setting up an account on EmaraTax requires just an email address and phone number. The platform guides users through selecting the taxpayer type, choosing the Corporate Tax registration option, and following through with the submission process.

Wafeq: Facilitating Compliance and Ease

To support businesses in adapting to these regulations, Wafeq offers tools that simplify the management of tax obligations. Our platform ensures that businesses can not only comply with the new tax regulations efficiently but also manage their finances more effectively. Wafeq’s features help in organizing and maintaining accurate financial records, crucial for compliance and audit readiness.

As the deadline approaches, the FTA encourages all affected businesses to familiarize themselves with the Corporate Tax Law, executive decisions, and related guidelines available on their official website. The FTA continues to enhance its service delivery channels, ensuring a supportive environment that encourages compliance and eases the tax submission process.

For businesses seeking assistance with their tax preparation and submission, Wafeq remains committed to providing the necessary tools and support to navigate these changes seamlessly.

Contact Information

Businesses needing further guidance on Corporate Tax registration or Wafeq’s services can reach out via our customer support or visit the Wafeq website for more detailed information and resources.