Chartered Accountants (Audit Companies) in Dubai
Contact Us!

Corporate Tax Registration Deadline Alert

If your business license was issued in August or September, ensure you complete your Corporate Tax registration by October 31, 2024! Don’t miss the deadline to stay compliant.

🔑 Key Points to Note:

  1. Even if a Taxable Person discontinues business operations through dissolution, liquidation, or other means during the first tax period, Corporate Tax registration remains mandatory. Only companies that are fully liquidated before the beginning of their first tax period are exempt from this requirement.
 
  1. Penalties: Failing to register within the specified timeframe will lead to a penalty of AED 10,000.
 
  1. If you’re already registered for VAT and your taxable person profile is not updated, it may take up to 20 working days for the FTA to approve amendments. Avoid delays by updating your details promptly and completing your CT registration on time.

What is Corporate Tax and When Was It Introduced in the UAE?

Corporate tax (CT) is a direct tax levied on the net income or profit of corporations and other entities from their business operations. In some regions, it is also referred to as “Corporate Income Tax (CIT)” or “Business Profits Tax.”

On January 31, 2022, the United Arab Emirates (UAE) Ministry of Finance (MoF) introduced a federal corporate tax system. This new system applies to financial years beginning on or after June 1, 2023. Aside from Bahrain, the UAE now offers the lowest corporate tax rate in the GCC, with a standard rate of 9%.

Designed with global best practices in mind, the UAE’s corporate tax framework aims to reduce the compliance burden on businesses.

Corporate Tax Advisory

 
  • We assist companies in handling queries both during and after implementation of Corporate Tax (CT) and provide support in the following areas:
  • We keep businesses informed on the evolving tax landscape in the UAE regarding Corporate Tax.
  • We provide advice on developing effective tax strategies and policies. Additionally, we offer high-level guidance on the arm’s length nature of new inter-company transactions, ensuring compliance with both OECD Guidelines and UAE CT/TP laws.

Know more :RE FTA Decision No. 3 of 2024 on Registration Timeline for Corporate Tax

Get A Quote
or Request Call Back

Truly, let us know what service you are looking for and hence we can get back to you with more details.

Auditing Services

Internal Audit

Statutory Audit 

Forensic Audit

Due Diligence Audit

Accounting Services

Payroll Services

Accounts Services

Bookkeeping Services

Forensic Accounting

VAT Services

VAT Registration

VAT Return Filing

VAT Accounting

VAT Consultancy

TAX Services

Excise Tax

TAX Advisory 

TAX Accounting

TAX Domicile Certificate

alya-auditors-logo-white-outline

Definitely, Alya Auditors is the one partner you need to ensure your business is built on accurate accounting books certainly, to spearhead greater growth and wider market reach.

Accountants & Auditors Association

An association of legally independent auditing & accounting firms in the UAE

Head Office- Dubai ,UAE

Silver Tower, Business Bay. PO Box: 41102, Dubai, UAE.

Branch Office- Sharjah, UAE

Sharjah Airport Free Zone PO Box: 120403 Sharjah, UAE.

+971 48769377

+971 52 9750690 , +971 50 522 1035

Quick Links

About Us

Blog

Careers

Contact Us

Working Hours

Mon – Fri : 8:30 AM – 6 PM

Saturday – 9 AM – 5 PM

Sunday – Closed

Follow Us

© Alya Auditors 2022 All Rights Reserved