Corporate Tax Registration
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Our service guarantees quick and accurate Corporate Tax Registration in Dubai, facilitating seamless compliance and assisting companies with the registration procedure to fulfil regulatory obligations.Entities designated as Taxable Persons must finish corporate tax registration in order to be subject to corporate taxation in the United Arab Emirates. This tax is levied against the revenue or net profits of a firm. Federal Decree-Law No. 47 of 2022 provides an overview of the legal framework that governs company tax in the United Arab Emirates, outlining the rules, circumstances, and extent of corporate tax. This law states that companies will be liable for UAE Corporate Tax as of the first day of their first fiscal year beginning on or after June 1, 2023. Renowned Corporate Tax Consultants in the United Arab Emirates are essential in helping Taxable Persons figure out when they need to file their taxes, remember when to register, and follow the Corporate Tax Law.
The deadline for corporate tax registration in the United Arab Emirates is June 1, 2023, until May 31, 2024.For companies that operate in the United Arab Emirates between June 1, 2023, and May 31, 2024, the following schedule needs to be adhered to:
- Corporate Tax Law for 2022 Publication Date: January 1, 2023; Registration Period: February 28, 2025 to February 28, 2025 (26 Months)
- Application of Corporate Tax Law on June 1, 2023
- First Tax Period: June 1, 2023–May 31, 2024; Return Filing Period: June 1, 2024–February 28, 2025.
- The first tax period’s return filing deadline is February 28, 2025. The second tax period runs from June 1, 2024, to May 31, 2025.
It is advised that companies aggressively seek out the knowledge of top UAE tax consultants well in advance of this time. These consultants provide expert advice to guarantee that all required paperwork is in order, encouraging adherence to legal requirements. By being proactive, you can reduce the likelihood of missing deadlines and paying fines while also expediting the filing process.
Fiscal Year 2024–2024–January 1–December 31, 2024
For the next fiscal year, which runs from January 1, 2024, to December 31, 2024, companies shall adhere to this schedule:
- Corporate Tax Law, 2022 Publication: January 1, 2023–September 30, 2025: Registration Period (33 Months)
- Corporate tax law will be applied on June 1, 2023. The first tax period will run from January 1, 2024 to December 31, 2024. The second tax period will run from January 1, 2025 to September 30, 2025. The deadline for filing returns for the first tax period will be September 30, 2025.
- In this stage, companies can build strong accounting procedures and keep correct records all year long by utilising their first filing experience. The procedure of filing taxes is made much more efficient by this vigilance.
Financial Year April 1, 2024, to March 31, 2025
For the third fiscal year under the new tax regime, spanning April 1, 2024, to March 31, 2025, the following timeline is applicable:
- 2022: Corporate Tax Law Published
- January 1, 2023, to December 31, 2025: Period of Registration (24 Months)
- June 1, 2023: Application of Corporate Tax Law
- April 1, 2024, to March 31, 2025: First Tax Period
- April 1, 2025, to December 31, 2025: Return Filing Period
- December 31, 2025: Return Filing Due Date for First Tax Period
- April 1, 2025, to March 31, 2026: Second Tax Period
Businesses need to be well-versed in the tax filing procedure by now. To ensure ongoing compliance with UAE tax laws, it is imperative to remain updated about any changes or amendments to tax regulations.
Implications of Missing Deadlines for Tax Returns
Following the deadlines for reporting corporation taxes in the United Arab Emirates is a regulatory necessity that is critical to preserving a stable business climate. If these deadlines are missed, there may be dire repercussions:
Delays in filing can result in significant penalties that mount up everyday until the return is turned in.
A company’s reputation and operational efficiency may suffer if it fails to comply with tax regulations, resulting in a loss of good standing with the authorities.
Failure to comply may result in legal action, which could interrupt business operations and suspend or revoke a licence.
A company’s reputation can be damaged by tardiness or noncompliance, which can undermine stakeholder faith.
Companies that violate regulations may be subject to thorough audits and scrutiny, which can be quite costly.
Financial burdens resulting from penalties and fines may impact cash flow and investment potential.
Seek the Skilled Assistance of the Best Tax Advisors in the UAE
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Sidra Salman
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Salman Sharif
- Non-Executive Director
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Mubashir Islam
- Senior Manager
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Zainab Malik
- Senior Financial Analyst
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Mian Ahmad Farhan
- Partner Audit & Assurance Services
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Gideon Kaddu
- Senior Accounting Associate
- Tel: +971 502 182 897
