Corporate Tax Registration Services UAE
In the ever-evolving landscape of finance, adaptability is key. At Carvy Consultants, we bring you the latest chapter in the UAE’s financial narrative: “Corporate Tax Registration”. Introduced by the Ministry of Finance, this groundbreaking initiative is set to reshape the business world.
Imagine a future where your business can confidently handle the complexities of corporate tax. In the vibrant city of Dubai and across the UAE, audit firms and tax experts are ushering in a new era of tailored Corporate Tax Registration, advisory services.
Join us on this transformative journey as we redefine financial landscapes together. Your success is our compass, and your prosperity fuels our strategies. Welcome to a tomorrow where corporate tax registration is not a hurdle.
Why Carvy Consultants for corporate tax registration?
Partner with Carvy Consultants and entrust your corporate tax registration and filing requirements to a team of dedicated experts.
Who qualifies for exemption from UAE Corporate Tax?
While the Federal Tax Authority has advised that Exempted Persons should undergo Corporate Tax registration, businesses falling under the exempted category are still liable for a corporate tax rate of 0%.
There exist specific categories that enjoy exemption from Corporate Tax.
Employees’ salaries remain untouched by Corporate Tax implications. However, individuals receiving earnings from activities conducted under a freelancing license will incur company tax charges.
Income derived from shares or comparable assets, including dividends, capital gains, or other personal potential-driven earnings.
Real estate investments remain permissible within the UAE unless the investor holds no business license.
Intra-group transactions or reorganizations in the realm of potential business transactions remain unaffected by Corporate Tax considerations.
Corporate Tax does not apply to foreign investors’ income stemming from dividends, gains, royalties, and similar investment returns unless such gains are acquired through an active business or business-related activities.
Who is required to undergo Corporate Tax registration?
Every individual or entity subject to taxation, including those within Free Zones, is obligated to register for Corporate Tax and obtain a unique Registration Number.
Under the UAE’s Corporate Tax legislation, there are specific criteria governing tax registration, outlined as follows:
Registration at the discretion of the Federal Tax Authority
If your business falls within the taxable scope of the Corporate Tax policy, it is imperative to initiate the Corporate Tax registration process in the UAE.
Upon successful registration, securing a Tax Registration Number within a designated timeframe becomes essential.
The Federal Tax Authority mandates that certain individuals, such as those classified as Exempt persons or operating as autonomous partnerships, adhere to Corporate Tax registration requirements and subsequently obtain a Tax Registration Number.
Deadlines for UAE Corporate Tax
The corporate tax framework operates on a self-assessment principle, signifying that businesses bear the responsibility of ensuring the accuracy and legal adherence of the documents submitted to the Federal Tax Authority (FTA).
Under the new UAE corporate tax structure, taxpayers are granted a window of up to 21 months from the commencement of their financial year to complete the preparation, submission, and payment of their taxes.
To illustrate, for enterprises with a fiscal year commencing on June 1, 2023, and concluding on May 31, 2024, the deadline for filing corporate tax returns and effecting payments is extended until February 28, 2025.
Similarly, if a business’s inaugural tax period initiates on January 1, 2024, and culminates on December 31, 2024, the requisite return and payment procedures must be concluded between January 1 and September 30, 2025.
Necessary Documents for Corporate Tax Registration
- Trade License
- Copies of passports belonging to the license-owning partners
- Copies of Emirates IDs for the license-owning partners
- Memorandum of Association (MOA) or Power of Attorney (POA)
- Contact information of the responsible individual
- Company’s contact and address particulars
- Corporate Tax Period details
De-registration from UAE Corporate Tax
If your business is a corporation and has been registered for corporate tax, it is imperative to initiate the de-registration process before the business is no longer subject to corporate tax regulations.
The Federal Tax Authority (FTA) will oversee the de-registration procedure provided that corporate tax returns have been filed, all corporate tax obligations have been settled, and any applicable penalties for periods up to and including the cessation date have been resolved.
Our Corporate Tax Registration Offerings:
Providing the best corporate tax services, Carvy Consultants assures reliable services to comply with the new UAE CT regime.