In line with Federal Decree-Law No.47 of 2022 on the taxation of corporations and businesses, taxable persons will be subject to corporate tax from the beginning of their first financial year that starts on or after 1 June 2023.
All public Joint stock companies and private companies are invited to register for corporate tax.
Taxable entities are required to register with the Federal Tax Authority using the EmaraTax portal for Corporate Tax purposes in the form and manner, and according to the timeline, prescribed by the Authority.
Once registered, the entity will be issued with a Tax Registration Number by FTA. This number is unique to each entity and forms part of the Person’s identifying information when engaging with the Federal Tax Authority (e.g. when filing a Tax Return).
UAE branches of domestic companies are an extension of their “parent” and are not considered separate legal entities. Therefore, UAE branches are not required to separately register for UAE Corporate Tax.
Generally, all Taxable Persons are required to register for Corporate Tax purposes. However, certain categories of Taxable Persons may be exempted to register such as:
● a Government Entity
● a Government Controlled Entity
● Certain Extractive Businesses
● Certain Non-Extractive Natural Resource Businesses
● Certain Non-Resident Persons that derive only State Sourced Income.
Certain categories of Exempt Persons will be required to register for Corporate Tax and obtain a Tax Registration Number. This requirement will apply to any of the following types of Exempt Persons:
● a Qualifying Public Benefit Entity
● a Qualifying Investment Fund
● a pension or social security fund that meets certain conditions.
● Certain juridical persons incorporated in the UAE
● Any other Person as may be determined by a Cabinet Decision.
The Federal Tax Authority is allowed to require the authorized partner in an Unincorporated Partnership to register the Unincorporated Partnership for Corporate Tax on behalf of all partners for the purposes of providing a declaration to the Authority if such information is requested by the Authority.
The Federal Tax Authority, at its discretion and based on the information available to it, may register a Person for Corporate Tax effective from the date the Person became a Taxable Person by meeting certain conditions. This discretionary power is given to the Authority to unilaterally register someone in order to allow the Authority to effectively administer and enforce the Corporate Tax Law.
Checklist for Corporate Tax Registration
- Email Address (Emaratax Credentials)
- Trade license Copy
- Trade license for branches (if applicable)
- Financial Periods (Start and end dates)
- Passport / Emirates ID of All owners
- Passport / Emirates ID of authorized signatory
- Memorandum of Association and/or Power of Attorney (if applicable)
How can Parker Russell UAE help?
- Corporate Tax Registration
- Training to management and staff.
- Enterprise evaluation study for impact on financials, processes & businesses
- Consultancy on system requirements, performance, and upgrades
- On-going Tax Agent services – Filing regulatory tax returns / Payments – credits & refunds / Records & reconciliation / Audits / Assessments & administrative procedures, etc.
Registered Tax Agency and Agents
Tax Agency Registration Name: PARKER RUSSELL OBAID AUDITING
Tax Agency Registration Number: 30000269
Tax Agent Registration Name: Mansour Abdulwahab Mohamed Ahmed
Tax Agent Registration Number: 20037867
To speak with our corporate tax expert kindly email us at: firstname.lastname@example.org or email@example.com