Federal Tax Authority (FTA) has opened pre-registration for UAE corporate tax through the EmaraTax platform starting from January 2023.
The Federal Tax Authority launched the early registration in line with Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”).
The law stipulates that Taxable Persons will become subject to Corporate Tax from the beginning of their first financial year that begins on or after June 1, 2023.
The FTA stated that the pre-registration period is available from January 2023 to May 2023 for specific categories of companies operating in the UAE.
EmaraTax platform
These companies will get invitations from the federal tax authority by email and SMS, allowing them to register through the EmaraTax platform.
Following this phase, the FTA will announce at a later date when registration will be open for other firms and businesses.
The federal tax authority will make sure to give ample time to companies and businesses to apply for UAE corporate tax registration and meet legal obligations.
When registration opens, the authority will prioritize companies and businesses that start the financial year on June 1, 2023.
The FTA welcomes any suggestions and feedback during this phase to ensure continuous improvements in registration processes.
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.
Tax regulations
“FTA prioritizes supporting all business sectors to comply with tax regulations and procedures through flexible mechanisms that align with international best practices.
“The FTA 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.
The FTA will provide more information about registration for corporate tax in due course. Further details about Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses will be made available here.
tanvir@dubainewsweek.com
