For public shareholding companies and private companies

Federal Tax Authority opens registration in the corporate tax system from tomorrow

The Federal Tax Authority (FTA) announced the opening of registration for the Corporate Tax System through the Emarat Tax platform for digital tax services for public shareholding companies and private companies as of tomorrow, May 15, 2023, in line with Federal Decree-Law No. (47) of 2022 regarding corporate and business tax (Corporate Tax Law), which stipulates that taxable persons will be subject to corporate tax as of the beginning of the first fiscal year starting on June 1, 2023 or After that, taxable persons are required to register and obtain a tax registration number for corporate tax purposes.

The Authority called on all taxable public shareholding companies and private companies residing in the United Arab Emirates for corporate tax purposes to apply for registration with the Federal Tax Authority, explaining that this will not include persons based in free zones who will be able to register for corporate tax purposes at a later stage, and likewise registration for corporate tax will be opened for other categories of taxable persons, such as natural persons who practice business or business activity in the country as determined by the decision of Cabinet, later. She noted that early registration will allow businesses enough time to comply with their legal obligations.

It should be noted that at the moment, the registration process for corporate tax will be available only to individual legal entities, so that legal entities wishing to form a tax group, must register individually first, and then at a later date they will be able to apply for the formation of a tax group.