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UAE begins corporate tax registration for public joint stock companies and private entities
Early corporate tax registration will allow sufficient time for companies and businesses to comply with their legal obligations.
Starting today, public joint companies and private companies in the UAE can begin registering for the corporate tax before it becomes applicable next month.
The corporate tax will be applicable for financial years starting on or after June 1, 2023.
The Federal Tax Authority said companies could register using the EmaraTax digital tax services platform.
The FTA invited all taxable persons from public joint stock companies and private companies in the UAE to register. However, this will not cover free zone persons whose registration will be available at the stage.
Other categories, such as natural persons conducting business or business activity, will open later.
The authority explained that early corporate tax registration would allow sufficient time for companies and businesses to comply with their legal obligations.
“For the time being, the corporate tax registration process will be available to individual legal entities only,” the release said. “Entities that would like to form a corporate tax group are required to register individually first, and then, at a later date, will be able to apply to form a corporate tax group.”
The UAE introduced the federal corporate tax with a standard statutory rate of 9%, bringing companies’ income exceeding $102,000 within the taxable bracket. Taxable profits below the threshold will be subject to a 0% rate.