- July 7, 2023
- Posted by: Nikhil Sharma
- Category: Blog
The Federal Tax Authority (FTA) has recently introduced the pre-registration procedure for corporate tax in the UAE, specifically targeting select organizations and entities. It is essential for businesses falling under the scope of this notification to register for UAE corporate tax according to the guidelines provided by the FTA. This registration requirement may be either an early registration or one that can be completed at a later stage, depending on the specifics of your business.
To ensure compliance with the new regulations and streamline the registration process, it is advisable to seek the assistance of professional corporate tax consultants in Dubai who can help identify the applicability of this notification to your business and provide guidance accordingly. These consultants possess the expertise to assess your business’s eligibility and can offer guidance on registering for UAE corporate tax using the EmaraTax platform. The registration process on this platform has been specifically developed to simplify and expedite the process while ensuring full compliance with all the necessary requirements.
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When Can the Other Companies Register for UAE Corporate Tax?
Following the pre-registration phase, the FTA will announce a registration date for other companies and businesses to comply with the UAE corporate tax requirements. Companies with a financial year commencing on June 1, 2023, will receive priority in the registration process. Adequate time will be provided by the FTA to ensure companies can register and fulfill their legal obligations.
The UAE corporate tax applies to companies falling within its scope, including free zone companies. Even if a business’s taxable income is below the AED 375,000 per annum threshold, registration is mandatory. Exempt businesses are also required to register for UAE corporate tax to avail themselves of exemption benefits. Corporate tax consultants in Dubai can assist with the registration procedure.
How to Register for UAE Corporate Tax through the Emaratax Platform?
To register for UAE corporate tax via the EmaraTax platform, please adhere to the following steps:
- To log in to your EmaraTax account, utilize your login credentials or authenticate using UAE Pass for secure access. In case you don’t possess an existing account, simply click the “sign-up” button to initiate the account creation process.
- Upon successful login, you will be directed to the Taxable Person list screen, where you can conveniently view the linked Taxable Persons associated with your EmaraTax user profile. This screen provides easy access to manage and track your tax obligations effectively. This screen provides an overview of the individuals or entities that are subject to taxation and are connected to your EmaraTax account.
- Within the Taxable Person dashboard, select on “Register” button visualized on the Corporate Tax tile to begin the Corporate Tax registration procedure. This step will guide you through the main information and documentation mandated for an easy and efficient registration procedure.
- A screen with procedures and information will appear. Familiarize yourself with the guidelines and instructions provided for Corporate Tax Registration, and indicate your confirmation by selecting the checkbox.
- Select on the “Start” button to begin the Corporate Tax registration procedure. This will commence the process where you will be guided to provide the required details and complete the necessary steps for successful registration.
- In the entity details section, choose the appropriate Entity Type for your business from the available options. Please note that the fields to be filled may vary depending on the selected entity type.
- Finish filling out all the required fields and click “Next Step” to keep practical information and move on to the “Identification Details” area.
- In the identification details section, accurately input the pertinent information of your main trade license based on the selected Entity Type. Ensure that all required fields are filled with the necessary details related to your trade licenses, such as the trade license number, issue date, expiry date, and other relevant information. It is essential to provide accurate and up-to-date details to facilitate a seamless registration process.
- To add the business activities associated with your trade license, click on “Add Business Activities” and provide the necessary information. Click on “Add” to save the details.
- If there are owners who possess 25% or more ownership in the registered entity, simply select the “Add Owners” option to input their relevant details.
- If your entity has one or more branches, you can indicate their presence by selecting the option “Yes” in the relevant section. After selecting “Yes,” proceed to enter the trade license details for each branch, including the trade license number, issuance date, and expiry date.
- In the “Contact Details” section, provide your business’s registered address. In the “Authorized Signatory” section, add the necessary information about the authorized signatory. Ensure all mandatory fields are accurately filled. Click “Next Step” to save and proceed to the “Review and Declaration” section. Review all information, mark the checkbox to declare accuracy, and click “Submit” to complete your Corporate Tax Registration application.
By following these steps, you can register for UAE corporate tax through the EmaraTax platform.
Registering for corporate tax in the UAE is crucial for businesses falling within its scope. Using the user-friendly EmaraTax platform, businesses can efficiently submit their registration application by providing entity details, business activities, owner information, contact details, and authorized signatory details. Staying informed about the registration timeline set by the FTA and meeting legal obligations is essential. Compliance ensures adherence to UAE corporate tax regulations.