As the UAE Federal Tax Authority (FTA) issued Decision No. 3 of 2024 on February 22, 2024, businesses must adhere to the new timelines for Corporate Tax (CT) registration. AEY Accounting is here to provide corporate tax registration and consultancy services, ensuring your business remains compliant with all UAE tax regulations.
Understanding the UAE Corporate Tax Law
Article 51 of the UAE CT Law mandates that all taxable persons must register for Corporate Tax with the FTA and obtain a Tax Registration Number within the prescribed timeline.
Key Highlights from FTA Decision No. 3 of 2024
Timelines for Resident Juridical Persons:
For juridical persons (companies and businesses) established before March 1, 2024, the tax registration deadlines are based on the earliest date of their license issuance:
| Date of License Issuance | Deadline for Tax Registration Application |
|---|---|
| 1-31 January and 1-28/29 February | 31 May 2024 |
| 1-31 March and 1-30 April | 30 June 2024 |
| 1-31 May | 31 July 2024 |
| 1-30 June | 31 August 2024 |
| 1-31 July | 30 September 2024 |
| 1-31 August and 1-30 September | 31 October 2024 |
| 1-31 October and 1-30 November | 30 November 2024 |
| 1-31 December | 31 December 2024 |
| Without a License by March 1, 2024 | 3 months from the effective date of this decision |
Timelines for Newly Established Juridical Persons:
- UAE Juridical Persons: 3 months from the date of incorporation, establishment, or recognition.
- Foreign Juridical Persons: 3 months from the end of the financial year if effectively managed and controlled in the UAE.
Timelines for Non-Resident Juridical Persons:
| Category | Deadline for Tax Registration Application |
|---|---|
| Permanent Establishment (PE) before March 1, 2024 | 9 months from PE existence |
| Nexus before March 1, 2024 | 3 months from March 1, 2024 |
| PE after March 1, 2024 | 6 months from PE existence |
| Nexus after March 1, 2024 | 3 months from nexus establishment |
Timelines for Natural Persons:
- Resident Persons: By March 31 of the subsequent Gregorian calendar year.
- Non-Resident Persons: 3 months from meeting the tax threshold of AED 1 million.
Penalties for Late Tax Registration
Failure to submit a tax registration application within the specified timeframe will result in a penalty of AED 10,000 per taxable person, as per Cabinet Decision No. 75.
Ensuring Compliance with AEY Accounting
To avoid penalties and ensure timely compliance with the new CT regulations, AEY Accounting offers specialized tax registration and consultancy services. Our services include:
- Tax Registration Assistance: We help you prepare and submit your tax registration application within the prescribed deadlines.
- Tax Consultancy: Our experts provide tailored advice to ensure your business meets all UAE tax obligations.
- Compliance Assessment: We assess your business’s compliance status and provide strategies to maintain it.
Why Choose AEY Accounting?
- Expert Knowledge: Our team has extensive experience and knowledge of UAE tax regulations.
- Timely Service: We ensure all tax registration and compliance processes are completed within the required timeframes.
- Reliable Support: Our dedicated professionals are here to assist you with all your tax-related queries and needs.
Contact Us
Don’t wait until the last minute. Reach out to AEY Accounting today to ensure your business is fully compliant with the UAE Corporate Tax regulations. Contact us at Info@aey.ae to schedule a consultation and learn more about our services.
