The Ministry of Finance announced the corporate tax in January 2022. This tax will be charged on the profits generated by businesses operating across the seven emirates of the UAE. The corporate tax in UAE will start on either June 1, 2023 or January 1, 2024, depending on when the company’s financial year begins. That means companies will start paying corporate tax from the start of their next financial year, which will fall on one of these two dates.
The UAE government collects a type of tax called Corporate Tax from all the companies and other businesses. This tax is based on the profit businesses make. Understanding the Corporate Tax Registration process is crucial for all businesses operating in the UAE.
The UAE government wants to:
- Make the country a top place for business growth and invest
- Help the country develop & achieve its all goals
- Show that it follows all international rules for fair and transparent taxation
Corporate Tax Rates in UAE
As per the Ministry of Finance, the corporate tax rates in UAE are:
- The tax rate is 0% If the taxable income is up to 375,000 AED
- The tax rate is 9% If the taxable income is above 375,000 AED
Deadlines For Corporate Tax Registration 2024 For Taxable Persons
Corporate Tax registration deadlines in the UAE vary based on when you got your business license. The deadlines for Corporate Tax Registration are spread out throughout 2024, based on the month, not the year you got your license. Here is how it works:
- If you got business license between January 1 – February 28/29, the deadline is 31 May 2024
- If you got your license between March 1 and April 30, the deadline is 30 June 2024
- If you got your license between May 1 and May 31, the deadline is 31 July 2024
- If you got your license between June 1 and June 30, the deadline is 31 August 2024
- If you got your license between July 1 and July 31, the deadline is 30 September 2024
- If you got your license between August 1 and September 30, the deadline is 31 October 2024
- If you got your license between October 1 and November 30, the deadline is 30 November 2024
- If you got your license between December 1 and December 31, the deadline is 31 December 2024
Just find the month you got your license and apply by the corresponding deadline for UAE Corporate Tax Registration.
How to Register for Corporate Tax in Dubai, UAE
Here are the steps for Corporate Tax Registration in UAE:
- Login to the EmaraTax account by using the credentials or you can log in with a UAE pass. If you are new to EmaraTax or don’t have an account, click on the “signup” button.
- After successful login, the Taxable Person List screen is displayed. It shows the list of taxable persons linked to your profile. If there is no taxable person linked, you will need to add one.
- To start the corporate tax registration process, click on the “Register” button on the Corporate Tax tile within the taxable person dashboard.
- A page with instructions and guidelines will open. After reading the guidelines mark the checkbox and click on Start to initiate the corporate tax registration application.
- In the entity detail section, choose your business “Entity Type” from the dropdown. After the selection of entity type, it will adjust the form fields accordingly.
- Fill all the required fields and click on “Next Step” to save the details and proceed to the identification details section.
- After this, Click on “Add Business Activity” to enter all the business activity information related to the trade license. Enter all the mandatory information and click on “Add”.
- Click on the “Add Owner” button to enter all the owners associated with the trade license. Enter all the mandatory owner details and click on add. The owner person can be a legal person or a natural person.
- If you have one or more than one branch select “Yes” and add all details of the local branch. You have to enter the trade license details, associated business activities and owners list for each branch.
- After completing all the mandatory fields, click on the “Next Step” to save and proceed to the “Contact Details” section.
- Enter the registered address details of your business.
- After this, click on “Next Step” to save the details and proceed to the next step “Authorized Signatory”.
- To enter the Authorized Signatory details, click on “Add Authorized Signatory”. You can add one or more Authorized Signatory if required.
- After completing all the mandatory details click on the “Add” button.
- Click on “Next Step” to save & proceed to the “Review and Declaration” section.
- Review carefully all the information that you filled in throughout the application. Mark the checkbox to declare the correctness of the application.
- Click on “Submit” to submit the corporate tax registration application through the EmaraTax portal.
Understanding how to register for Corporate Tax is essential for all the businesses in UAE to go with the new regulations.
Documents Required for Corporate Tax Registration
For corporate tax registration, businesses must be ready to submit the following documents that are required for corporate tax registration in UAE.
- Copy of Trade License
- Passport Copy – Owners, Partners, and Shareholders who own the License
- Emirates ID – Owners, Partners, and Shareholders who own the License
- Memorandum of Association (MOA) Or Power of Attorney (POA)
- Contact Details of the Concerned Person (Mobile Number and Email ID)
- Contact Details of Company (Address and P.O. Box)
- Financial Audit Report – Annual
Corporate Tax Registration Services in UAE – Intellect Chartered Accountants
Intellect Chartered Accountants is one of the topmost firms of chartered accountants and auditors in Dubai, UAE with 21+ years of experience. Intellectca is a one-stop solution for all your financial needs. We provide Corporate Tax services, accounting services, audit services, golden visa, banking, VAT, bookkeeping, and business setup services to our clients. For corporate tax registration services in Dubai, UAE, feel free to contact Intellect Chartered Accountants now. Our experts can guide you through the Corporate Tax Registration process and ensure compliance with UAE laws and regulations.
