UAE Corporate Taxpayers in the UAE are urged to register before June-end to avoid fines

If a registration application is not submitted, the FTA imposes penalties.

Individuals with Corporate Tax licenses issued in March or April (regardless of the year of issuance) are reminded to submit their registration applications by June 30, 2024, to avoid penalties.

Taxpayers subject to Corporate Tax should adhere to Decision No. (3) of 2024, effective from March 1, which established registration deadlines.

Failure to submit Corporate Tax registration applications within the specified timeframes outlined in the FTA's Decision will result in administrative penalties.

Earlier, the Ministry of Finance confirmed in a separate statement that those who miss the registration deadline will be fined Dh10,000 ($2,700).

In the FTA, the specified period for submitting Corporate Tax registration applications applies to both resident and non-resident juridical persons.

According to the FTA, resident natural persons conducting business or business activities within the UAE during 2024 or subsequent years, with revenues exceeding Dh1 million within a year, are required to apply for Corporate Tax registration by March 31 of the following year. This means that the deadline for submitting registration applications for resident natural persons who conduct business or business activities in the country in 2024 and whose total earned revenues for 2024 exceed Dh1 million is March 31, 2025.

The FTA added that a non-resident natural person conducting business activities within the UAE during 2024 or subsequent years, whose total earnings exceed Dh1 million, must submit their corporate tax registration application within three months of meeting the corporate tax eligibility criteria.

For support with Corporate Tax, please contact the team at Zyla Accountants for support.