Understanding Corporate Tax Period and Deadline for Submission in UAE
The UAE has moved forward with the new corporate tax system, bringing more responsibilities for businesses operating in the country. Every company must know how to follow the rules about corporate tax periods and submission deadlines to keep up with the law and avoid fines. This article will explain the meaning of a corporate tax period, how to determine your tax period, what the submission deadlines are, and how to get expert help.
What is a Corporate Tax Period?
A corporate tax period means the time frame in which a business calculates its taxable income and prepares its tax return. The period usually matches the company’s financial year. Most businesses in the UAE follow either the calendar year (January to December) or another 12-month period based on their accounting records. This period is important because every tax return and calculation depends on it.
Key points about tax periods:
- The tax period is the same as the financial year.
- It can be the calendar year or any chosen 12 months.
- Businesses must stick with their chosen period unless they apply for a change.
If a business wants to change its tax period, it can apply to the authority for a new start or end date, or to switch to a different tax period. The authority must approve the request, following their own set rules.
When Should You Submit Your Tax Return?
The UAE government wants every business to file its tax return on time. According to Article 51, a business has to file the return no later than nine months after the end of its financial year or tax period. The authorities may also set a different date, but most companies will use the nine-month rule.
Examples of deadlines:
- If your financial year ends on May 31, 2024, you need to file your tax return by February 28, 2025.
- If your financial year ends on December 31, 2024, you must file your tax return by September 30, 2025.
Practical Scenarios for Corporate Tax Period
Let’s look at a few simple examples so you can understand how these dates work in practice:
- For a company with a financial year ending May 31:
The first tax period starts June 1, 2023, and ends May 31, 2024. The tax return is due by February 28, 2025. - For a company with a financial year ending December 31:
The first tax period starts January 1, 2024, and ends December 31, 2024. The return is due by September 30, 2025. - Registration periods:
Companies with a June-May year have 26 months for registration.
Companies with a January-December year have 33 months for registration.
Information Required in the Tax Return
When you file your tax return in the UAE, you must include:
- Business name, address, and tax registration number
- Date of submission
- Basis of accounting used
- The exact tax period the return covers
- Taxable income for the period
- Tax loss relief and transferred losses, if any
- Available tax credits
- Final corporate tax owed
If the tax authorities request more information, records, or documents, your business must supply them. If something involves national security or public interest, the Minister may set special rules for how information is shared.
Why Do These Deadlines Matter?
Filing on time helps a business avoid penalties and legal trouble. Keeping up with deadlines and knowing your exact tax period shows responsibility and good financial management. Late submissions can bring fines, extra fees, or even audits. A business that understands its tax obligations will work more smoothly and focus on growth.
Why deadlines matter:
- You avoid penalties and extra charges.
- You show professionalism and good management.
- You stay on the right side of the law.
- You can plan your cash flow better.
How Mubarak Al Ketbi (MAK) Auditing Can Help
Mubarak Al Ketbi (MAK) Auditing helps your business handle tax periods and submission deadlines in the UAE. Our experienced accountants will keep your records correct, help you plan for taxes, and make sure you submit everything on time. We know the latest rules and can spot all deductions and credits, so you can save money where possible. With our help, you won’t be left high and dry when tax time comes around.
Let MAK Auditing lighten your tax load and keep your business on track:
- Get full support with tax filing and planning.
- Find all possible deductions and credits.
- Have your financial records reviewed and ready.
- Receive reminders for important deadlines.
- Get guidance for any special changes or questions.
How MAK Auditing Can Help You
At Mubarak Al Ketbi (MAK) Auditing, our team works with you to understand every part of UAE corporate tax, including periods and deadlines. We know each business has unique needs. We tailor our support to your situation, help you plan ahead, and walk with you every step. You’ll find our advice as valuable as gold, and with us, you won’t have to carry the whole world on your shoulders.
For more information, please:
- Visit our office: Saraya Avenue Building – Office M-06, Block/A, Al Garhoud – Dubai – United Arab Emirates
- Or contact/WhatsApp: +971 50 276 2132
