The Federal Tax Authority (FTA) has reiterated the importance of adhering to deadlines for the registration of taxable entities under the corporate tax regime.
This announcement, made on X, is part of the FTA's concerted effort to raise awareness and facilitate compliance among taxpayers with their obligations stipulated in the Corporate Tax Law. The focus is on resident juridical persons that were established or recognized before March 1, 2024, with tax liabilities calculated based on the issuance date of their license.
According to the guidelines outlined by the tax authority, entities holding licenses issued in January or February, regardless of the year, must submit their tax registration applications by May 31, 2024. Meanwhile, entities without licenses as of March 1, 2024, are granted a three-month grace period to fulfill their tax registration obligations, with the deadline also set for May 31, 2024.
To further streamline the registration process and ensure clarity, the FTA has provided month-wise deadlines for tax registration. Entities with licenses issued in March or April are required to complete their registration by June 30, 2024.
Similarly, those issued licenses in subsequent months face corresponding deadlines: July 31, 2024, for May; August 31, 2024, for June; September 30, 2024, for July; and October 31, 2024, for both August and September. For licenses issued in October and November, the deadline is November 30, 2024, while entities with licenses issued in December must complete their registration by December 31, 2024.
This comprehensive approach aims to provide clarity and guidance to taxable entities in meeting their regulatory obligations under the corporate tax framework. By adhering to the specified deadlines, businesses can ensure compliance with the law and avoid any potential penalties or repercussions. It is essential for taxpayers to stay informed and updated on these developments in order to effectively navigate the corporate tax landscape in the UAE.
