Essentials for Corporate Tax Registration:
- Enrollment and Withdrawal: It’s highly recommended that all eligible taxable person register for Corporate Tax through the Federal Tax Authority (FTA) without delay. Non-residents earning income from the state have specific factors to note. Timely submission of a Tax Deregistration application is crucial to evade penalties.
- Financial Reports and Accounting Approaches: The significance of financial statements in assessing taxable income is paramount. Your choice between a Cash Basis or an Accrual Basis of Accounting depends on your revenue. Adherence to International Financial Reporting Standards (IFRS) and meticulous record-keeping are vital.
- Submitting Applications and Making Choices: Businesses aiming to capitalize on Corporate Tax Law provisions might need to apply or make specific elections. Determining when FTA approval is necessary for exemptions, joining tax groups, and specific relief applications is essential.
- Filing Taxes and Settling Payments: Corporate Tax functions through a self-assessment system. To prevent penalties, it’s crucial to submit tax returns and payments promptly, within nine months after the relevant tax period’s end. In the case of tax groups, the parent company takes charge of filing.
Key Dates to Mark in Your Calendar: (Registration Process Already started)
| End of Financial Year | Initial Reporting Period | Date of Registration | Deadline for Submitting Initial CT Return and Payment | Deadline Initial Submission of Transfer Pricing Disclosure Form |
| Dec-23 | Jan 2024 to Dec 2024 | Registration Process Already started | 30th Sep 2025 | 30th Sep 2025 |
| Jun-23 | Jul 2023 to Jun 2024 | Registration Process Already started | 31st Mar 2025 | 31st Mar 2025 |
Get Started on the Path to Smooth Tax Registration
Required Documents for UAE Tax Registration
In the UAE, corporate tax applies to businesses with taxable income. The corporate tax rate stands at 0% for earnings up to AED 375,000 and 9% for earnings surpassing AED 375,000.
In readiness for corporate tax registration, individuals liable for taxation require the following documents:
- Photocopy of a valid Trade License
- The license-owning owner/partners must provide copies of their valid Passport and Emirates IDs
- Power of Attorney (POA) / Memorandum of Association (MOA)
- Contact information of the relevant individual and the company
- Report on the annual financial audit
Reasons to Consider Why IMC?
Navigating the complexities of corporate tax can be daunting, which is where the IMC team excels. Armed with in-depth knowledge of the latest UAE Corporate Tax regulations, we will simplify the process for you.
Leverage our team’s extensive experience to ensure precise and punctual compliance with Corporate Tax Law. Entrust us with the finer intricacies while you focus on your core business operations.
Navigating the complex landscape of corporate tax registration in the UAE can be challenging. However, with our IMC expertise in taxation and regulatory compliance, we empower businesses to navigate these complexities confidently. Our commitment to you is to provide the necessary knowledge to ensure seamless integration into the UAE’s tax framework.
For any queries or further clarification, reach out without hesitation. Please consider us your allies, ensuring a smooth and compliant corporate tax journey.
