Ensure Compliance with the Federal Tax Authority (FTA)
The UAE Federal Tax Authority (FTA) has issued an important notice for individuals and businesses conducting economic activities in the UAE. If you generated a turnover of AED 1 million or more in 2024, you may be required to submit a Corporate and Business Tax application before March 31, 2025 to avoid late registration penalties.
Failure to comply with this requirement may result in administrative fines, affecting your business operations and financial standing.
Who Needs to Register for Corporate and Business Tax?
Businesses and individuals engaged in economic activities in the UAE must assess whether they meet the AED 1 million turnover threshold for 2024. This includes:
– Sole proprietors, freelancers, and entrepreneurs conducting business in the UAE.
– Small and medium enterprises (SMEs) and larger corporations.
– Partnerships and self-employed individuals who generated taxable income.
If your business activity falls within these categories and meets the turnover criteria, registration for corporate tax is mandatory before the deadline.
Why Is Timely Registration Important?
Registering for Corporate and Business Tax before March 31, 2025, ensures:
– Avoidance of Late Registration Penalties: Businesses that fail to register on time may face fines from the FTA.
– Compliance with UAE Tax Laws: Staying updated with tax regulations helps businesses operate legally and efficiently.
– Seamless Tax Filings & Financial Planning: Early registration allows businesses to plan their financial obligations accordingly.
How to Register for Corporate and Business Tax?
The FTA has streamlined the tax registration process via its online portal. Follow these simple steps to register:
1. Visit the FTA Registration Portal: Click on the following link to access the official website – https://shorturl.at/QFbXh.
2. Log in or Create an Account: Use your existing credentials or sign up as a new user.
3. Complete the Corporate Tax Application: Fill in the required business and financial details.
4. Submit the Application: Review the information and submit your request.
5. Receive Confirmation: The FTA will verify your application and provide confirmation of successful registration.
Act Now to Avoid Penalties!
The March 31, 2025 deadline is fast approaching. If your business has generated a turnover of AED 1 million or more in 2024, you are required to submit your Corporate and Business Tax application to avoid fines.
For professional tax consultation and compliance support, The Capital Zone is here to assist you. Contact us today to ensure your business meets all UAE tax obligations smoothly and efficiently.
