Attention UAE Mainland/Freezone businesses! Register tax returns as per FTA regulations. Stay compliant, avoid penalties!.Navigate the evolving landscape of corporate tax in the UAE with our advisory services for Corporate Tax Registration in UAE (CT) in 2024. Whether your business operates in the Mainland or Free Zones, our expertise ensures a smooth understanding and execution of the process of Corporate Tax Registration inn UAE, guiding you through the requirements and deadlines to prevent any potential penalties. Stay compliant and gain valuable insights into the corporate tax landscape with our comprehensive support tailored to your needs.
All businesses in the UAE, Mainland Companies (Onshore) and Free Zone companies are required to file tax returns with the Federal Tax Authority (FTA), irrespective of whether they are liable to pay any tax and even if they earn no income at all.
To be able to file a tax return, all businesses will have to maintain proper financial and accounting records and get the Corporate Tax registration before deadline to avoid Registration penalty.
Corporate Tax will be applicable for financial years starting on or after 1 June 2023
Any company that adopts a fiscal year starting on 1 June 2023 and ending 31 May 2024 will be subject to CT starting 1 June 2023. The first tax return filing is likely to be due towards the end of 2024.
Any company that adopts a calendar year starting 1 January 2023 and ending 31 December 2023 will be subject to CT starting 1 January 2024 and filing is likely to be due towards mid-2025
Tax Rate:
All annual taxable profits that fall under AED 375,000 shall be subject to 0% Zero Percent rate.
All annual taxable profits above AED 375,000 shall be subject to 9% Nine Percent rate.
Contact us to guide you through the procedures of corporate tax registration in UAE, so that you can comply with UAE Corporate Tax (CT) rules.
Failure to register on time will lead to a penalty of AED 10,000.
For regular Tax Update visit
https://mof.gov.ae/corporate-tax-faq/