The Federal Tax Authority (FTA) is warning Resident Juridical Persons subject to corporate tax with licenses issued in March and April to submit their corporate tax registration application by 30th June 2024 to avoid penalties. Failure to register will result in an administrative penalty of Dh10,000. The FTA Decision No. 3 of 2024 specifies timelines for different categories of taxable persons to submit their applications.
The FTA’s decision applies to both juridical and natural persons, including Resident Persons and Non-Resident Persons. Taxable persons are advised to review the public clarification issued by the FTA regarding the timelines for corporate tax registration. The clarification provides detailed analysis and examples for different categories of persons and addresses registration requirements for juridical persons seeking exempt status under the corporate tax law.
According to the clarification, resident persons incorporated before 1st March 2024 should submit their tax registration application based on their license issuance month. For those with expired licenses as of 1st March 2024, the submission reference is still based on the original issuance month. The deadline for those with multiple licenses is determined by the earliest issuance date, while juridical persons established after 1st March 2024 have a three-month window to submit their application.
The corporate tax registration process is available through the “EmaraTax” digital platform, which is accessible 24/7. The registration process has been streamlined into four main steps that take approximately 30 minutes to complete. Taxpayers are urged to comply with the specified timelines to avoid penalties and ensure compliance with tax regulations. Failure to comply could result in financial penalties and legal consequences.
In conclusion, the FTA’s deadline for corporate tax registration applies to various categories of taxable persons, including resident and non-resident juridical persons. Taxpayers must familiarize themselves with the specified timelines and requirements to avoid penalties and ensure compliance with the corporate tax law. By submitting their applications promptly through the EmaraTax platform, taxpayers can avoid administrative penalties and any potential legal issues related to non-compliance with tax regulations. It is essential for businesses and individuals subject to corporate tax to adhere to the FTA’s guidelines to maintain good standing and avoid any disruptions in their tax obligations.
