The Federal Tax Authority (FTA) has issued a timely reminder for businesses and individuals holding Corporate Tax licences issued in January and February, urging them to submit their Corporate Tax registration applications by May 31, 2024. This crucial deadline aims to prevent penalties for late submissions.
Streamlined Registration Process
For those already registered for VAT or Excise Tax, the registration process is notably straightforward. Businesses can use their existing accounts to facilitate the tax registration. The EmaraTax digital platform simplifies the process into four steps, taking approximately 30 minutes to complete. Upon approval, businesses will receive a Tax Registration Number for Corporate Tax.
However, if you have not previously registered with the FTA for other taxes, you must create a new user profile on EmaraTax at https://eservices.tax.gov.ae/. Setting up an account requires an email address and phone number. Once the user profile is created, you can complete the registration by specifying the taxpayer, selecting the Corporate Tax registration option, and following the simple steps provided.
Penalties for Non-Compliance
The FTA has reiterated that administrative penalties will be imposed on individuals who fail to submit their registration applications within the specified timeframes. The Ministry of Finance has confirmed that missing the registration deadline will result in an administrative penalty of Dh10,000 ($2,700).
The timeframes for submitting Corporate Tax registration applications apply to both UAE residents and non-residents. To assist with the registration process, government service centres across the UAE offer advanced e-services and specialist support. These centres ensure that the information entered is accurate before FTA specialists review the application internally. Once approved, the Tax Registration Number for Corporate Tax will be sent via email.
The FTA encourages all taxable individuals to familiarize themselves with the Corporate Tax Law, executive decisions, and related guidelines available on the FTA’s official website at https://tax.gov.ae/en/default.aspx.
