Corporate Tax – UAE Don’t forget to register!

Deadline for Corporate Tax Registration

The deadlines for corporate tax registrations have been established by the UAE Federal Tax Authority, and taxable individuals are strongly encouraged to complete timely registration to prevent any violations of tax laws.

The Federal Tax Authority of the UAE has issued Decision No. 3 of 2024, which outlines the timeline for the registration of taxable persons for corporate tax. This decision is in accordance with the provisions of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its subsequent amendments.

Do all DMCC companies need to submit audited statements?

Yes, every company in DMCC must submit audited financial statements yearly for license renewal and compliance.

What is the deadline for submitting audits in DMCC?

Companies must submit audited financials within 180 days after their financial year ends.

Who can audit DMCC companies?

Only auditors listed as DMCC-approved, like Mubarak Al Ketbi (MAK) Auditing, can audit DMCC companies.

What happens if a company misses the audit deadline?

The company may face penalties, trouble renewing its license, or lose incentives from DMCC.

What documents do auditors usually request?

Auditors may ask for trade licenses, bank statements, transaction slips, VAT details, MoA, AoA, and invoices.