Register corporate tax in UAE with the help of leading tax agents in UAE. Businesses can stay compliant, enjoy tax benefits, mitigate risks and streamline financial processes with best tax agents.
How to Register Corporate Tax in UAE?
Step-by-step Guide to Corporate Tax Registration on Emara Tax Platform
Key Takeaways
- UAE is no more a tax-free haven. All the businesses in the UAE need to register corporate tax. A penalty of AED 10,000 is charged for late registration of corporate tax – the UAE Ministry of Finance.
- For businesses, the question is what are the eligibility criteria, and requirements before registering the corporate tax in UAE? We have the answers.
- To leverage diverse financial growth opportunities for businesses, it is crucial to stay compliant with tax regulations which can be achieved only by partnering with the best auditing & advisory services in UAE.
Take away the stress! Get in touch with the leading financial advisors for strategic tax planning. For enquiries call @ +971 45 570 204 / Email Us : [email protected]
Owning a business in UAE or planning to start a business in UAE? Here’s what you need to know about corporate tax registration in UAE.
UAE has rolled out taxes for businesses to coincide with global efforts to tackle tax avoidance. Every business that is operating in the UAE is subject to register corporation tax. All the taxable entities, individuals and independent partnerships must register corporation tax. It is important for businesses to be compliant with the regulations of the Federal Tax Authority (FTA).
In case of non-compliance with FTA regulations such as late tax filing, errors in application etc, a strict penalty will be charged. To avoid paying hefty fines, stay compliant and ensure adherence to tax standards, businesses can rely on the best tax consultants in UAE to guide you through every step of the way for a hassle-free tax payment and higher tax refund.
Have questions on corporate tax UAE? Here we have answered some of the most common questions people ask before registering corporate tax
- What is the Corporate Tax in UAE?
- Who is eligible for Corporate Tax Registration?
- What is the timeline to register Corporate Tax in UAE?
- What is EmaraTax?
- What is TRN?
- How much is the Corporate Tax in UAE?
What is the Corporate Tax in UAE?
Corporate tax in UAE is the direct tax levied on the net income or profit earned by businesses and other entities by the government.
It is applicable for all the companies operating in the UAE, except for certain exempted entities. Taxable income is the profit or income reflected in the financial statement, which can be adjusted for additions and reductions based on CT laws and regulations.
They must also obtain a TRN, file annual tax returns, and submit financial statements under IFRS (International Financial Reporting Standards).
All eligible person can register for UAE Corporation Tax online through the EmaraTax Platform. Type the URL >> https://eservices.tax.gov.ae/#/Logon to access tax services online in UAE.
For enquiries call @ +971 45 570 204 / Email Us : [email protected]
How is corporate tax calculated in UAE in 2024?
The Net profit derived from deductions in the company’s financial statements is considered as a taxable income. The corporate tax will be deducted from the taxable income.
Is it mandatory to register for corporate tax in the UAE?
Yes, All the businesses in the UAE need to register corporate tax irrespective of their revenue size. A penalty of AED 10,000 is charged for late registration of corporate tax – the UAE Ministry of Finance.
Who is eligible for Corporate Tax Registration?
Any person who is running a business in UAE under a trade license must obtain a Tax Registration Number (TRN). All the taxable persons including Free-zone person should register corporate tax with the FTA under the CT Law Regime.
What is the exemption for corporate tax in UAE?
Federal Tax Authority (FTA) have exempted the following entities and types of income to encourage social welfare and support the economy
- Government Entities
- Government Controlled Entities
- Extractive Businesses
- Non-Extractive Natural Resource Businesses
- Charities and Public Benefit Organizations
- Investment Funds
- Pension and Social Security Funds
- Wholly-Owned UAE Subsidiaries
What is the timeline to register Corporate Tax in UAE?
A Taxable person can check the timeline prescribed by the FTA regarding corporate tax registration on their official page. (1CT Infographic -Mandatory Period for Registering.pdf (tax.gov.ae))
For enquiries call @ +971 45 570 204 / Email Us : [email protected]
What is the deadline for Corporate Tax registration in UAE 2024?
Corporate tax registration deadline will be mentioned in the official page. Do no miss out your deadline and avoid paying hectic penalty.
Resident Juridical Persons (including free zone persons) established or recognised on or after March 1, 2024
| Category of Juridical Persons | Deadline for Tax Registration |
|---|---|
| A person incorporated, established or recognised under the applicable legislation of another country and who is currently managed and controlled in the UAE. | 3 months from the end of the person’s financial year. |
| A person incorporated or established or recognised under the applicable legislation in the UAE, including a Free Zone Person | 3 months from the date of incorporation, establishment or recognition. |
Non-Resident Juridical Persons Before March 1, 2024
| Category of Juridical Persons | Deadline for Tax Registration |
|---|---|
| A person who has a permanent establishment in the country. | 9 months from the date of starting the permanent establishment |
| A Non-Resident Juridical person with a nexus in the UAE. | 3 months from March 1, 2024 |
Non-Resident Juridical Persons on or after March 1, 2024
| Category of Juridical Persons | Deadline for Tax Registration Application |
|---|---|
| A person who has a permanent establishment in the country. | Within 6 months from the date of starting the establishment |
| A Non-Resident Person with a nexus in the UAE. | Within 3 months from the date of establishing the relationship. |
Natural Persons Conducting Business or Business Activity
| Category of Natural Persons | Deadline for Tax Registration Application |
|---|---|
| A resident natural person who runs a business or carries out business activity during the calendar year 2024 or subsequent years, and whose total turnover generated for each Gregorian calendar year exceed the limit specified in the relevant tax legislation. | March 31 of the following Gregorian calendar year |
| A non-resident natural person who runs a business or carries out business activity during the Gregorian calendar year 2024 or subsequent years and whose total turnovers generated exceed the limit specified in the relevant tax legislation | 3 months from the date of fulfilling the conditions set out to determine taxable persons |
Check out the official notification to know more about the deadline of Corporate tax in UAE >> 1CT Infographic -Mandatory Period for Registering.pdf (tax.gov.ae)
For enquiries call @ +971 45 570 204 / Email Us : [email protected]
How much is the Corporate Tax in UAE in 2024?
The Corporate tax rate in UAE for businesses with taxable income below AED 375,000 is 0% and above AED 375,000 is 9%
What is EmaraTax?
EmaraTax is the digital platform launched by the FTA dedicated to the taxpayers to access tax services online such as registration of taxes, paying taxes, filing returns, and obtaining refunds etc.
What is TRN?
A Tax Registration Number (TRN) is a unique number provided for all businesses that operate in UAE. This number will be used by the company and its branches for any tax-related transaction.
Before applying for corporate tax registration, it is required to obtain a TRN. To obtain a TRN for your business, you need to visit the FTA website to submit an application form with all your business information such as trade license, legal structure and contact information. The FTA will issue a TRN number in 20 business days upon reviewing the application.
For enquiries call @ +971 45 570 204 / Email Us : [email protected]
How to Register a Corporate Tax in UAE?
Steps to Register Corporate Tax in EmaraTax Platform
Step 1: Login to EmaraTax Platform
New users can sign-up by entering their Email ID and Phone number and then login. Existing users can login using their ID and password or UAE Pass.
- On successful login, the Taxable Person list screen will appear. A list of taxable persons linked to your profile is displayed.
- Click ‘View’ on a Taxable person from the list for whom you want to register a tax. A dashboard for that particular person will appear.
- Click ‘Register’ on the Corporate Tax Menu to start with the Corporate Tax registration.
- Read the guidelines and instructions for corporate tax registration and click ‘Start’ to initiate Corporate Tax Registration.
Corporate Tax Registration application includes a five-step process: Entity Details, Identification Details, Contact Details, Authorized Signatory and Review and Declaration.
Step 2: Entity Details
Enter your entity details including Entity Type, Entity Sub-type, Registered Country, Incorporation Date and Corporate Tax Period and Click ‘Next Step’.
Step 3: Identification Details
- Main Trade License Details
Based on your ‘Entity Type’, you need to enter the main license information in the identification details section.
- Business Activity
Enter your business activity information related to the trade license by clicking ‘Add Business Activities’. Fill in the mandatory business activity information and click on ‘Add’.
- Owner Details
Click on ‘Add Owners’ to include all the owners’ information who own 25% or more ownership in the registered entity.
- Local Branch Details
Select ‘Yes’ if you have one or more branches, and Click ‘Add New Branch’ to enter the branch details. After verifying all the information, Click ‘Next Step’ to proceed.
Step 4: Contact Details
Enter the registered address and other contact information of the business and click ‘Next Step’.
Step 5: Authorized Signatory
- Enter the Authorized Signatory information by clicking the ‘Add Authorized Signatory’ button.
- If the Authorized Signatory is not a resident of UAE, select ‘No’ and enter the Passport information.
- Upload the Memorandum of Association by clicking the ‘Add/View’ button or dragging files from the device. Click ‘Next Step’ to proceed.
Step 6: Review & Declaration
- In the Review and Declaration section, you can have a final view of all the information you have entered to register corporate tax. Review the details and apply by clicking the ‘Submit’ button. Corporate Tax Registration application will be submitted successfully.
- Upon successful application submission, a Reference Number will be generated. Save this reference number for future communication with FTA.
For enquiries call @ +971 45 570 204 / Email Us : [email protected]
Why do you need a tax agent for your business?
Efficient financial management is crucial to stay compliant and successful. Filing your taxes on time with proper guidance is mandatory.
Improper financial management holding you back from achieving your business goals? Do you find the financial management process tedious and mind-bending? Leave it to the experts from the best tax agent service in UAE.
Here are the benefits of partnering with the expert tax agents in UAE:
- Stay away from financial risks
- Rectify errors & prevent financial fraud
- Keep track of the Cash flow
- Make a strategic financial decision
- Utilise expert knowledge for business growth
- Smart & organised record-keeping
KGRN, a leading global Audit & Advisory firm, will cater to your accounting, audit and financial management needs with best-in-class services.
Sit back and relax! Let us take you through the hassle-free financial management journey.
For enquiries call @ +971 45 570 204 / Email Us : [email protected]
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