The United Arab Emirates (UAE) issued Federal Decree-Law No. (47) of 2022 regarding Corporate Tax, a form of direct taxation imposed on the net income of companies and other businesses. This tax will come into effect, applying to financial years beginning on or after June 1, 2023.
Tax Registration for Corporate Tax
All individuals subject to tax, including those operating in free zones, must register for Corporate Tax within the deadlines set by the Federal Tax Authority. After registration, a tax registration number will be obtained.
Tax Registration Based on the Company’s Fiscal Year
For companies with fiscal years from June 1 to May 31, the registration window is open between January 1, 2023, and February 28, 2025.
For companies with fiscal years from January 1 to December 31, the registration window is open between January 1, 2023, and September 30, 2025.
Tax Registration Services by “VAT Registration UAE”
Tax compliance is a fundamental aspect for any company’s institutional base, ensuring its continuity and building trust with stakeholders. Therefore, tax registration is the first step towards ensuring the best possible tax compliance.
At “VAT Registration UAE” Tax consultants provide all clients with tax registration services, leveraging Their experience and leadership in the field. Their specialized consultants will address all yTheir doubts and questions regarding Corporate Tax and VAT, the registration process, and other procedures related to ensuring the best possible tax compliance.
Deregistration (Cancellation) of Tax Registration
Deregistration can be done through a request submitted to the Federal Tax Authority when a person ceases business activities due to liquidation, dissolution, or other reasons.
Requirements for deregistration include settling the outstanding tax, administrative fines, and the submission of mandatory tax returns.
Deregistration Services by “VAT Registration UAE”
The liquidation or cessation of business activities does not automatically cancel tax registration. Certain procedures and data verification are necessary to ensure the accuracy of the deregistration request.
At “VAT Registration UAE” Tax consultants provide comprehensive services related to tax deregistration, ensuring the accuracy of the attached data in the request. Their specialized consultants conduct a thorough review of all data and information to cover all aspects related to tax deregistration.
Tax Return Filing
Taxpayers must submit their tax returns to the Federal Tax Authority according to the specified forms and procedures within (9) months from the end of the relevant tax period or any other date determined by the authority.
Information included in the tax return:
- Tax period
- Name, address, and tax registration number of the taxpayer
- Date of tax return submission
- Taxable income for the tax period
- Tax losses carried forward
- Available tax balances
- Corporate tax due for the tax period
- Declaration in lieu of the return in some cases
This applies to entities such as:
- Qualified public benefit entity
- Qualified investment fund
- General social insurance or pension fund
- Legal person established in the country fully owned by a government entity or a government-related entity
Tax Return Filing Deadlines
According to the UAE tax authorities, the deadlines for tax return filing for the year 2023 are as follows:
- VAT Return: June 28, 2023
- Excise Tax Return: June 17, 2023
- Corporate Tax Return: September 30, 2025
For companies with fiscal years from June 1 to May 31, the first tax period extends from June 1, 2023, to May 31, 2023. The second tax period covers the same period in 2024, with the final deadline for filing the tax return for the first tax period being February 28, 2025.
For companies with fiscal years from January 1 to December 31, the first tax period extends from January 1, 2024, to December 31, 2024. The second tax period covers the same period in 2025, with the final deadline for filing the tax return for the first tax period being September 30, 2025.
Tax Filing Services by “VAT Registration UAE”
Beyond just providing services related to tax registration and filing, their specialized consultants at “VAT Registration UAE” offer advice and assistance to all clients. It’s not just a one-time consultation but a bridge of trust ensuring secure access and optimal tax compliance.
“VAT Registration UAE”, with over 35 years of experience, is one of the leading offices specializing in tax affairs in the UAE. We have and will always extend a helping hand to all clients regarding issues related to corporate tax and other types of taxes.
At “VAT Registration UAE”, Their specialized consultants cover all aspects of corporate tax. Contact them for expert assistance.