The Federal Tax Authority (FTA) of the United Arab Emirates (UAE) have begun early corporate tax registration through the EmaraTax platform to provide registered members and enterprises with digital tax services.
The most recent action is in accordance with Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, which specifies that taxable people shall be liable to corporate tax beginning with their first fiscal year commencing on or after June 1, 2023.
The authority explained that certain categories of enterprises operating in the UAE are eligible for the early registration period, which runs from January 2023 to May 2023. Selected companies will receive invitation from the FTA visa email and SMC so they may sign up utilizing the EmaraTax platform.
The FTA has increased its efforts, in cooperation with the relevant authorities, to create processes to implement the corporation tax in the UAE in accordance with the highest standards since it was announced.
Even if the taxable revenue is below the annual level of Dh375, 000 or exempt, all businesses (including free zones, companies, and individuals) must register.
More specifics concerning the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses as well as information about company tax registration will be made available by the FTA in due course.
This article's information is meant to serve as a general introduction to the topic. Please seek specialized guidance regarding your unique circumstances.