How to register for corporate tax
The Basic Steps of Corporate Tax Registration
Businesses must determine whether they have a revenue threshold above AED 375,000 before registering for corporate tax. The business must then submit all the necessary documents including financial statements and details of the business. Businesses will receive a Tax Registration Number (TRN), and can begin reporting taxes, once they submit the required documents.
Documents Required for Registration
Documents required include:
- Business license
- Details about the company’s activity.
- Financial Statements (if applicable)
- Documents identifying business owners and shareholders.
Corporate Tax Registration Step by Step
Step 1: Check your eligibility
Businesses must first determine if they have a revenue that exceeds AED 375,000. The UAE tax authority will require them to register with corporate tax if they exceed the threshold of AED 375,000. The process for companies located in certain free zones may be slightly different.
Step 2: Submit the required documentation
The UAE tax authority will require businesses to submit the necessary documents once their eligibility has been confirmed. Documents such as proof of business activity, financial records and identification of owners are required.
Step 3: Receive your Tax Registration Number
Businesses will receive a Tax Registration Number, or TRN, after submitting their application successfully. This number is used to file tax returns. This number is crucial for compliance with UAE tax laws and tax reporting.
Corporate Tax Registration Amendment
What is Corporate Tax Registration Amendment (CRT)?
Any changes to the existing details of a company’s registration are considered a corporate tax registration modification. Changes in ownership, business activity or financial data that could affect a business’s tax status are all possible. Tax authorities must receive amendments to ensure compliance.
When should you make an amendment?
If there are any changes that have a significant impact on the tax situation of the business, a change should be made. This includes mergers, acquisitions or changes to business activities which could affect revenue or tax obligations.
Corporate Tax Registration Approval Time
How long does the approval process take?
The approval of corporate tax registration in the UAE usually takes between 2 and 4 weeks depending on the complexity, size, and type of business. Businesses should allow for extra time to prepare in case there are any delays.
Factors affecting approval time
The approval time can vary depending on several factors. These include the quality of the documents submitted, the type and location of the business. To avoid delays, businesses should make sure all information provided is accurate.
Corporate Tax Registration User Manual
Why is it important to have a User Manual?
The Corporate Tax Registration User Manual provides businesses with step-by-step instruction on how to register for corporate tax in UAE. The manual provides useful guidance on submitting documentation, understanding tax obligations and managing tax returns after registration.
Use the User Guide for Corporate Tax Registration
Refer to the manual before beginning the registration process. The manual is designed to help businesses understand the phases of the registration process, and ensure they comply with all requirements.
Table: Corporate Tax Registration Timeline and Requirements
| Step | Duration | Description |
|---|---|---|
| Eligibility Check | Two-day turnaround | Check if you meet the criteria for registration. |
| Document Submission | The 1-2 week period | Submit all required documents (business licence, financials). |
| The TRN issuing and approval | Two to four weeks | Get the tax registration number and approval. |
| Post-Registration Reporting | Continued | Make sure you are filing your taxes on time and in compliance. |
What Can Help Mubarak Al Ketbi Chartered Accountants How to Register for Corporate Tax
We at “Mubarak Al Ketbi Chartered Accountants” are experts in guiding companies through the UAE corporate tax registration process. Our team of experienced professionals ensures all documents are correctly submitted and in time so that you do not face delays. We can also provide advice on tax filing and compliance.
Working with us will save you the trouble of understanding complex tax regulations. Let us take care of your corporate tax registration so that you can concentrate on growing your company.
Frequently Asked Questions
What documents is required for corporate tax registration in the UAE?
Businesses are required to submit a business licence, financial statements and documents proving ownership or shareholder identification.
How long does the approval process take for a corporate tax registration?
The approval process can take between 2 and 4 weeks depending on how complex the business is.
What should businesses do when they need to change their corporate tax registration information?
If there are any changes to the business’s activities, ownership or financial information, a tax authority should be notified.
Are businesses in free zones required to register the same way as mainland businesses?
Businesses in free zones must follow the same steps, but they may be subject to different regulations depending on where they are located.
