Federal Tax Authority urges registration before month-end

The Federal Tax Authority (FTA) has urged resident juridical persons with licences issued in October and November, irrespective of the year of issuance, to promptly submit their corporate tax registration application no later than November 30, 2024.

In a statement issued on Sunday, the FTA advised taxable persons to adhere to the timelines specified in FTA Decision No. 3 of 2024 on the timeline specified for registration of taxable persons for corporate tax for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its amendments, which came into effect on 1 March 2024. The FTA decision provides deadlines for each category of taxable persons subject to corporate tax to submit their corporate tax registration applications.

As per Cabinet decision No. 75 of 2023 on the administrative penalties for violations related to the application of Federal Decree-Law No. 47 of 2022 on the taxation of corporations and businesses, and its amendments, an administrative penalty will be levied on taxable persons who fail to comply with submitting their corporate tax registration application within the time periods specified in the FTA decision.

The FTA decision applies to juridical persons and natural persons, whether resident or non-resident, noting that juridical persons that are resident persons incorporated or otherwise established or recognised before March 1, 2024 must submit their corporate tax registration application based on the month their licence was issued, irrespective of the year of issuance.