FTA underscores importance of promptly registering for Corporate Tax

Corporate Tax Registration UAE: Why It Matters

Corporate Tax Registration UAE is very important for every business. The Federal Tax Authority (FTA) recently held workshops in Ras Al Khaimah, Dubai, and Abu Dhabi. These workshops explained how companies should register under the new tax framework. Many firms learned about taxable income rules, compliance steps, and penalty exemptions.

More than 2,300 participants joined these awareness programs. Attendees came from both private and public sectors. They got answers to their questions directly from FTA experts.

Importance of Registering Early

Entities that must pay Corporate Tax should register without delay. FTA announced that firms completing registration in time may benefit from an exemption plan. This plan helps companies avoid penalties for late submission.

  • Registration should be done through the EmaraTax platform.
  • First tax returns must be submitted within seven months from the end of the first tax period.
  • Exemption from penalties applies only if firms file within this timeline.

Tax Workshops Across Emirates

The FTA is running several workshops across UAE. They’re conducted both online and offline. These sessions aim to:

  • Guide businesses about Corporate Tax Law.
  • Explain how to use EmaraTax platform.
  • Share rules about exempt categories.
  • Answer common business tax queries.

Workshops in Ras Al Khaimah gathered more than 400 participants. Officials explained tax periods, applicable rates, and registration rules.

Key Points From FTA

The FTA made some points clear during sessions:

  • Businesses must complete registration promptly.
  • Firms that delay risk losing penalty exemptions.
  • Exempt persons must also register if required.
  • Filing should always meet the seven-month rule.

Corporate Tax Rules in UAE

Under UAE’s Corporate Tax Law, taxable persons must follow compliance procedures. The FTA shared detailed explanations:

  • Taxable Persons: Any entity earning profits above threshold.
  • Tax Periods: Defined periods where income is calculated.
  • Tax Rates: Standard rates apply depending on profits.
  • Compliance: Filing returns on time is critical.

FTA’s Role in Tax Awareness

The FTA is committed to helping businesses. It provides clear guidelines, online services, and training sessions. The main goal is to build a tax environment where compliance becomes easy.

Representatives in every session respond to company concerns. They provide explanations in simple terms. This shows FTA’s plan to create long-term trust between business and tax authorities.

What Can Help – Mubarak Al Ketbi (MAK) Auditing

Mubarak Al Ketbi (MAK) Auditing can guide your business with Corporate Tax registration and compliance. We help companies with proper filing, record maintenance, and tax planning. As the saying goes, a stitch in time saves nine, and early registration saves both money and trouble.

For more information:

  • Visit our office: Saraya Avenue Building – Office M-06, Block/A, Al Garhoud – Dubai – United Arab Emirates
  • Contact/WhatsApp: +971 50 276 2132

FAQs FTA underscores importance of promptly registering for Corporate Tax

Can a business claim VAT for a customer dinner?
No, VAT on dinners for customers or potential clients is non-recoverable.
What about staff lunches during meetings?
If the lunch is part of the normal meeting, VAT is recoverable.
Are staff parties or galas VAT-recoverable?
No, parties, celebrations, or entertainment events for staff are not VAT-recoverable.
Can I recover VAT on employee gifts?
You can't recover VAT on gifts if they are entertainment in nature, like festival gifts or retirement presents.
Who helps businesses with VAT compliance in Dubai?
Mubarak Al Ketbi (MAK) Auditing offers expert help for VAT registration, recovery, and compliance in Dubai.

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