The implementation of corporate tax in the United Arab Emirates has drastically transformed the taxation scenario of the country. In this manner, businesses operating through this particular region would rigorously follow the international standards for taxation implementation. It is a very positive step towards bettering governance and transparency; however, registering for corporate tax in the UAE seems quite a hassle.
This guide outlines the registration process, documents to be submitted, and all the important information required to avoid any hassle during registration. In addition, we will review the tax benefits offered in the free zones, along with how one can avoid double taxation while availing the FTA-approved JAXA Chartered Accountant as an auditor.
What are the procedures for Corporate Tax Registration in the UAE?
Registration of corporate tax in the United Arab Emirates follows a certain procedure. Below, the step-by-step guide is presented for ease:
- Account on FTA Portal First, visit the website of the Federal Tax Authority (FTA). In case one does not have an account, then an account must be created with all the required business information and email address.
- Access FTA Portal
Once you have created your account, you will log in and access the corporate tax registration section. Be sure to have business information in abundance ready for registration.
- Corporate Tax Registration Form
Use this form for registration by filling in fields for the business legal name, trade license, and Emirates ID. For international businesses, proof showing you are operating within the UAE borders is mandatory.
- Upload Required Documents
Please upload all the documents electronically. The list of documents is given below.
- Check and Submission
It is important to verify the information entered so that there is no error. After verification, please submit the form for FTA scrutiny.
- Receipt of Corporate Tax Registration Certificate
Once your application is processed and approved, you will be issued a corporate tax registration certificate, which will confirm that you have complied with the regulations.
What documents are required to complete the corporate tax registration in the UAE?
To complete your corporate tax registration in the UAE, the following are some of the documents required.
- Trade License: A valid UAE trade license.
- Emirates ID and Passport: From the owners or shareholders.
- Memorandum of Association (MOA): In support of the legal status of the company
- Tax Residency Certificate: This applies to international operation-based companies only.
- Power of Attorney: In case the process is handled by a representative.
All these documents will facilitate smooth registration with no undue delay.
Recommendations for Streamlined Corporate Tax Registration in Dubai
The process of registering for corporate tax in Dubai or other Emirates can be rendered simple and efficient by adhering to the following recommendations:
- Engage FTA Approved Tax consultants
Working alongside FTA approved tax advisors, including JAXA Chartered Accountants, ensures compliance and accuracy in documentation and submissions.
- Utilize Accounting Software
The implementation of accounting tools aids in the effective organization of financial information, thus guaranteeing prompt access to necessary documents.
- Be Aware of Deadlines
It is imperative to stay informed regarding FTA deadlines for registration and filing to avoid incurring penalties.
- Seek Expert Assistance
Tax consultants or auditors with expertise in corporate tax within the UAE can provide invaluable guidance throughout the process.
- Update Financial Records Regularly
Ensure that you maintain up-to-date financial records to facilitate the efficient processing of tax submissions and compliance with UAE tax laws.
