The Federal Tax Authority (FTA) has emphasised the importance for Public Joint Stock Companies (PJSCs), Private Shareholding Companies (PSCs), Limited Liability Companies, and other UAE-resident private entities to register for Corporate Tax.
This directive is particularly crucial for companies and juridical entities with taxable income whose fiscal year commenced on 1st June, 2023. This is in accordance with the Corporate Tax Law that is applicable to financial years beginning on or post this date.
The FTA has been systematically initiating Corporate Tax registrations since January 2023. Notably, in May 2023, the registration doors were opened to PJSCs and PSCs. As part of its commitment to offer ample time for compliance, the FTA assures that entities with a financial year starting on 1st June, 2023 will receive priority in the registration process, aligning with the strategy to streamline this procedure.
Corporate tax: How to register in four steps
You can register at any time on the FTA’s EmaraTax portal. The Corporate Tax registration is a straightforward process, comprising just four steps and taking under 30 minutes. For comprehensive instructions, the FTA’s website offers a detailed video tutorial on the registration process.
The EmaraTax platform has been designed based on international best practices to facilitate seamless tax registration, tax return filing and payment for all users.
For Taxpayers registered for VAT and Excise tax:
Log into your existing tax account on EmaraTax.
Choose the Taxable Person, opt for Corporate Tax registration.
Fill out the registration form and upload necessary documentation.
Once approved, a Tax Registration Number for Corporate Tax will be granted.
For Taxpayers not registered for VAT or Excise tax:
The FTA has emphasised the need to enter accurate information into the online application form and provide updated supporting documents, according to WAM.
Corporate Tax registration for Legal Persons requires various documents to be uploaded, including a Trade Licence / Business Licence; the authorised signatory’s Passport and Emirates ID; and proof of authorisation for the authorised signatory (POA/MOA).
The FTA added that the shareholdings of the owners must correspond with the actual percentages when filling the application form, and the incorporation date must match the company’s commencement date stated in the Memorandum of Association (MOA). In addition, the appropriate tax period for the concerned entity must be provided.
Entities that would like to form a Corporate Tax Group are required to register separately and obtain a Tax Registration Number first, and then apply to form a Corporate Tax Group at a later date, to be announced by the FTA.
Comprehensive awareness
Recently, the FTA launched a comprehensive awareness campaign to raise Corporate Tax knowledge among the UAE’s business community, which is set to continue until the end of the year. The campaign comprises of a series of awareness sessions and workshops across all Emirates where FTA representatives discuss the Corporate Tax Law and processes that support self-compliance. Also, the campaign includes an integrated set of Corporate Tax awareness webinars hosted on the FTA’s website.
In June, the FTA launched a dedicated awareness platform, designed to provide knowledge and support taxpayers and the business community. Virtual workshops on ‘Corporate Tax Registration’ were provided in Arabic and English and included key topics such as creating a new user profile on the EmaraTax portal, the documents required, processing registration applications and issuance of a Corporate Tax Registration Number.
