Monday 22 April 2024

Khalid Ali Al Bustani

FTA opens corporate tax pre-registration through EmaraTax

ABU DHABI, January 23, 2023

The UAE’s Federal Tax Authority (FTA) has launched corporate tax early registration for certain companies through EmaraTax, the UAE’s digital tax services platform.
The step comes in line with Federal Decree-Law No 47 of 2022 on the Taxation of Corporations and Businesses (the Corporate Tax Law), which stipulates that Taxable Persons will become subject to Corporate Tax from the beginning of their first financial year that starts on or after June 1, 2023, a WAM report said.
The Authority explained that early registration is open from January 2023 to May 2023 for certain categories of companies operating in the UAE. These selected companies will be receiving invitations from the FTA by email and SMS, allowing them to register via the EmaraTax platform.
Ample time
Following this phase, the FTA will announce at a later date when registration will be open for other companies and businesses. The FTA will make sure to give ample time for companies and businesses to apply for registration and meet their legal obligations. When registration opens, priority will be given to companies and businesses that have a financial year starting on June 1, 2023.
FTA Director-General Khalid Ali Al Bustani said: “Since the announcement of corporate tax in the UAE, the Federal Tax Authority has intensified its efforts, in collaboration with the competent authorities, to develop procedures to implement it in accordance with the highest standards, and to ensure the efficiency, accuracy, and seamlessness of administrative procedures, in a way that will not impact business operations and flow. The Authority prioritises supporting all business sectors to comply with tax regulations and procedures through flexible mechanisms that align with international best practices.”
“The Authority is committed to positioning itself as a partner and ally to business sectors, making dedicated efforts to safeguard their interests and support the national economy at the same time through balanced and transparent procedures that strengthen the UAE’s competitive environment,” he added.-- TradeArabia News Service


More Finance & Capital Market Stories

calendarCalendar of Events