Corporate taxpayers in the UAE are urged to register before June-end or face penalties

If registration applications are not submitted, the FTA will impose penalties.

To avoid penalties, the Federal Tax Authority (FTA) reminds individuals with Corporate Tax licences issued in March and April (regardless of the year of issuance) to submit their registration applications by June 30, 2024.

The FTA stressed the necessity to adhere to Decision No. (3) of 2024, effective from March 1, which established deadlines for Corporate Tax taxpayers to submit registration applications.

If a Corporate Tax registration application is not submitted within the designated timeframes outlined in the FTA's Decision, administrative penalties may be imposed.

An administrative penalty of Dh10,000 ($2,700) will apply to those who miss the deadline for registration, according to a separate statement from the Ministry of Finance.

Applicants can submit Corporate Tax registration applications within the specified periods, whether they are residents or non-residents.

As a result of the FTA, a resident natural person conducting business or business activities within the UAE during 2024 or subsequent years must submit a Corporate Tax registration application by March 31 of the following year if their revenue exceeds Dh1 million within a year. Therefore, the registration deadline for resident natural persons who conduct business in the country in 2024 and whose earnings for 2024 exceed Dh1 million is March 31, 2025.

Non-resident natural persons conducting business activities in the UAE during 2024 or subsequent years, whose total earned revenues exceed Dh1 million, must apply for corporate tax registration within 3 months of meeting the corporate tax eligibility requirements, according to the FTA.

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