Register Your Private Firm for UAE Corporate Tax : Starting from June 1, 2023, both Public Joint Stock Companies (PJSCs) and private firms operating in the UAE will be obligated to pay a corporate tax rate of nine percent. This tax requirement applies from the commencement of their initial financial year. Stay informed and prepare accordingly for the upcoming changes in corporate taxation.
From Monday, May 15, 2023, the UAE’s Federal Tax Authority (FTA) is set to introduce corporate tax registration for public joint stock companies and private firms. This registration process will be facilitated through the user-friendly EmaraTax digital tax services platform. Ensure timely compliance and make use of this efficient system to fulfill your corporate tax obligations. Stay ahead by registering your company and embracing the convenience of EmaraTax.
Starting from June 1, 2023, PJSCs and private firms in the UAE are required to pay a corporate tax rate of nine percent, according to the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. To comply with this regulation, they must register and obtain a tax registration number specifically for corporate tax purposes, beginning from the start of their first financial year.
The FTA has extended an invitation to all companies operating within the UAE for corporate tax purposes, urging them to register with the FTA. However, it is important to note that this invitation does not apply to free zone firms. Registration for free zone firms will be made available at a later stage.
The authority clarified that registering for corporate tax early will provide sufficient time for companies and businesses to fulfill their legal obligations. Currently, the registration process is open to individual legal entities only. If entities wish to form a corporate tax group, they must first register individually. They will have the opportunity to apply for group formation at a later stage.
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