UAE's Federal Tax Authority (FTA) Initiates Corporate Tax Registration for Public Joint Stock and Private Companies from May 15, 2023

The Federal Tax Authority (FTA) in the United Arab Emirates (UAE) has taken a significant step towards implementing the newly introduced Corporate Tax Law. Starting from May 15, 2023, the FTA has officially launched the registration process for Corporate Tax through the EmaraTax digital tax services platform. This move is in line with Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, which mandates that Taxable Persons, including Public Joint Stock Companies and Private Companies, become subject to Corporate Tax from the beginning of their first financial year commencing on or after June 1, 2023.

To ensure compliance with the Corporate Tax Law, the FTA has invited all Taxable Persons that are Public Joint Stock Companies and Private Companies resident in the UAE for Corporate Tax purposes to register with the FTA. It is important to note that the current registration process will not cover Free Zone Persons, as their Corporate Tax Registration will be made available at a later stage. Moreover, registration for other categories of Taxable Persons, such as natural persons conducting Business or Business Activity, will open at a subsequent date.

By launching the Corporate Tax registration process ahead of time, the FTA aims to provide ample opportunity for companies and businesses to fulfill their legal obligations.

For the initial phase, the Corporate Tax registration process is applicable to individual legal entities only. Entities seeking to form a Corporate Tax Group must first register individually and will subsequently be able to apply to form a Corporate Tax Group at a later date.

The FTA has established a dedicated Corporate Tax registration portal, where Taxable Persons can complete the registration process. Additionally, the FTA has provided an FAQ section on their website, which contains valuable information related to Corporate Tax registration.

The implementation of Corporate Tax in the UAE marks a significant development in the country's tax landscape. With the FTA's launch of the registration process, Taxable Persons are urged to promptly fulfill their registration obligations to ensure compliance with the Corporate Tax Law. By adhering to these regulations, businesses and companies contribute to the growth and sustainability of the UAE's economy.