The free run marked the final day of the Dubai Fitness Challenge (DFC) that has turned the city into an open gym
uae18 hours ago
Authorities in the UAE have specified deadlines for businesses to submit their Corporate Tax registration applications. Effective from March 1, 2024, the Federal Tax Authority (FTA) decision has spelt out timeframes for each segment of taxable entities or persons to register and avoid violating tax laws.
According to the Ministry of Finance, an administrative penalty of Dh10,000 applies for late registrations. Here is all you need to know.
What are the new deadlines for Corporate Tax registrations?
– Resident juridical persons (organisations) incorporated, established, or otherwise recognised prior to March 1, 2024.
Nishant Rayma, partner, RMC Tax Consulting, said the registration deadlines are structured based on the original month of incorporation for businesses, irrespective of the year.
| Month of licence issuance | Deadline |
| January or February | May 31 |
| March or April | June 30 |
| May | July 31 |
| June | August 31 |
| July | September 30 |
| August or September | October 31 |
| October or November | November 30 |
| December | December 31 |
“This uniform application means that deadlines are consistent for businesses established in the same months, regardless of their incorporation year,” said Rayma.
The FTA decision states that if a juridical person does not have a licence by March 1, 2024, they must apply to register within three months — that is, May 31, 2024.
According to the FTA, if an entity has more than one licence, the one with the earliest issuance date shall be used.
– Resident juridical persons (organisations) incorporated, established, or otherwise recognised after March 1, 2024.
For new resident businesses incorporated after March 1, the registration deadline is “mostly” three months from the date of incorporation, Rayma said. Here are the deadlines as specified by the FTA:
– Non-resident juridical person prior to March 1
– Non-resident juridical person after March 1
– Natural persons (individuals operating in their personal capacity)
According to Rayma, the deadline for resident natural persons with a turnover exceeding Dh1 million is March 31 of the subsequent year, while non-resident natural persons must register within three months of meeting the requirements of being subject to tax.
Administrative penalties will be imposed on taxable persons who do not submit their registration applications for Corporate Tax within the timeframes specified in the FTA’s Decision for each segment.
Arun Gurung, regional finance director at Sovereign Corporate Services Dubai, advised businesses to consider this update carefully “so they are ready to meet the relevant deadlines and avoid late registration penalties of Dh10,000”.
ALSO READ:
The free run marked the final day of the Dubai Fitness Challenge (DFC) that has turned the city into an open gym
uae18 hours ago
The run started little after 6.30am as police vehicles including a cyber Tesla truck led the way to ensure safety
uae21 hours ago
The restrictions have triggered mixed reactions from social workers
uae22 hours ago
Sharing their stories from Ukraine to Illinois, Germany to Kenya, they paint a vivid picture of how motorcycling has become a powerful vehicle for women empowerment in the region
uae22 hours ago
The Ministry of Interior called on the public to seek information from official sources
uae1 day ago
The floating station will feature a modern and contemporary design, inspired by boats and yachts, to facilitate easy access, boarding, and disembarking
uae1 day ago
Regular classes will resume on Wednesday, December 4, announced KHDA
uae1 day ago
A unified platform for drone operations will also be launched, streamlining registration and operational procedures
uae1 day ago