In accordance with The Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses (hereinafter referred to as the “Corporate Tax Law”) issued by the United Arab Emirates (“UAE”), on 09 December 2022, taxable persons will be subject to corporate tax from 1 June 2023, depending upon the start of their financial period.
As part of this implementation process, the Federal Tax Authority (FTA) has already started to invite selected categories of UAE-based companies through SMS & email for early corporate tax registration.
The FTA will announce when registration will be open to other firms and companies after this initial invitational phase is over. The FTA will make sure that organizations and enterprises have enough time to apply and fulfill their legal requirements as part of the registration procedure. Therefore, when registration opens, businesses and firms whose financial years begin on June 1, 2023, will be given priority.
Early preparation for corporate tax compliance is critical to avoiding higher implementation costs as well as reducing the pressure on internal teams to complete these preparations within a tight last-minute deadline.
Let us help you facilitate your corporate tax early registration, corporate tax planning and implementation while ensuring your organization makes a smooth and seamless transition to the Corporate Tax era.
Contact us for a consultation with our Tax Experts – email us at info@taxtechglobal.com or drop a message at WhatsApp Business +971 65 589 801 to get the best advice for Corporate Tax registration and compliance.
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