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Navigating corporate tax registration in the UAE can be complex, but it’s crucial for ensuring compliance and avoiding hefty penalties. Here’s a comprehensive guide to help you understand who needs to register, the key deadlines, and how Parker Russell UAE can assist you through the process.

Who Needs to Register for Corporate Tax?

Legal Persons

All legal entities, regardless of turnover, are required to register for corporate tax.

Natural Persons

If you are a sole proprietor or a natural person engaged in business activities with an annual turnover exceeding AED 1,000,000, you must register.

Qualifying Public Benefit Entities

Entities listed in Cabinet Decision No. 37 of 2023 must register with the Federal Tax Authority (FTA) and obtain a Corporate Tax Registration Number.

 

Key Deadlines and Penalties

First Deadline

  • 31 May 2024

Late Submission Penalty

  • AED 10,000 

 

Deadline Based on License Issuance Date

Ensure timely registration based on your specific license issuance date to avoid penalties. Here are the key deadlines for legal persons:

 

Date of License Issuance (irrespective of year of issuance) Deadline for Submission
1 January – 31 January 31 May 2024
1 February – 28/29 February 31 May 2024
1 March – 31 March 30 June 2024
1 April – 30 April 30 June 2024
1 May – 31 May 31 July 2024
1 June – 30 June 31 August 2024
1 July – 31 July 30 September 2024
1 August – 31 August 31 October 2024
1 September – 30 September 31 October 2024
1 October – 31 October 30 November 2024
1 November – 30 November 30 November 2024
1 December – 31 December 31 December 2024

 

The FTA has issued “Decision No. 3 of 2024”, effective from 1 March 2024, detailing these deadlines.

 

Registration Requirements

To register for corporate tax, you will need the following documents and information:

  • EmaraTax Profile
  • Valid Trade License
  • Memorandum of Association/Share Certificate/Power of Attorney, etc.
  • Passports/Emirates ID copies of owners, managers, and authorized signatories
  • Financial Year Period

 

Why Choose Parker Russell UAE?

Expert Guidance

Our team of experienced accountants specializes in UAE corporate tax registration, ensuring you receive expert guidance throughout the process.

Timely Service

We prioritize timely service to complete your registration promptly, helping you avoid any penalties.

Personalized Support

We offer tailored solutions to meet your unique business needs, ensuring personalized support.

Comprehensive Compliance

Stay updated with the latest regulations and deadlines through our comprehensive compliance services.

Don't wait until the last minute. Ensure your business is compliant with UAE corporate tax regulations. Contact Parker Russell UAE now to get started!

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