To avoid administrative penalties, the Federal Tax Authority (FTA) is reminding resident juridical persons who are subject to corporate tax and whose licenses were issued in March or April, regardless of the year of issuance, to submit their tax registration application for corporate tax as soon as possible, no later than June 30, 2024.
In line with FTA Decision No. 3 of 2024 on the Timelines Specified for Registration of Taxable Persons for Corporate Tax for Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its amendments, this is part of FTA’s ongoing efforts to encourage Taxable Persons subject to Corporate Tax to comply.
The FTA issued a warning stating that Taxable Persons would be subject to an administrative penalty of Dhs10,000 if they do not apply to register for corporate tax within the allotted timeframes.
The FTA asked taxpayers to follow the deadlines outlined in FTA Decision No. 3 of 2024, which went into effect on March 1st, 2024, in a press release released on Sunday. The Decision establishes deadlines for submitting Corporate Tax registration applications by each class of Taxable Persons subject to Corporate Tax. The FTA Decision covers all natural and juridical persons, both resident and non-resident.
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