Time Line for Corporate Tax Registration

Time Line for Corporate Tax Registration (With Effective From 1^stmarch 2024)

FTA has issued timeline for applying for registration of Corporate Tax for taxable persons failing which will attract a penalty of AED 10,000/-

A. Timeline for registration of Resident Juridical Person

A resident juridical person who is incorporated or recognized before 1^st march 2024 following is the timeline for applying for registration:

License issuance date	Timeline for submitting the application
1^st January – 28/29^th February	31^st May 2024
1^st March – 30^th April	30^th June 2024
1^st May – 31^st May	30^thJuly 2024
1^st June – 30^th June	31^st August 2024
1^st July – 31^st July	30^th September 2024
1^st August – 31^st August	31^st October 2024
1^st September – 30^th September	31^st October 2024
1^st October – 30^th November	30^th November 2024
1^st December – 31^st December	31^st December 2024
If a taxable person conducting business is not having a license on 1^st March 2024	1^st June 2024 (3 months from 1^st March 2024)

If a person has more than one license, the earliest license issuance date shall be considered.

To summarize, a juridical person in existence up to 29^th February, 2024 (whether having a license or not) need to apply for registration in the year 2024 based on their license issuance date.

A resident juridical person who is incorporated or recognized after 1^st March 2024 following is the timeline for applying for registration:

Category of Resident Juridical person	Timeline for submitting the application
A person including a free zone person which is incorporated or recognized in UAE after 1^stMarch 2024.	3 months from date of incorporation or recognition
A person that is incorporated or recognized outside UAE after 1^st March 2024 but having POEM in UAE.	3 months from the end of the Financial Year of the person

B. Timeline for registration of Non – Resident Juridical Person

A juridical person who is Non – Resident before 1^st March 2024 shall submit the application for registration as follows:

Category of Non – Resident Juridical person

Timeline for submitting the application

A person that is having Permanent Establishment in UAE.

9 months from the date of existence of the Permanent Establishment

A person having nexus in the state.

1^st June 2024

(3 months from the effective date of this decision)

A juridical person who is Non – Resident after 1^st March 2024 shall submit the application for registration as follows:

Category of Non – Resident Juridical person	Timeline for submitting the application
A person that is having Permanent Establishment in UAE.	6 months from the date of existence of the Permanent Establishment
A person having nexus in the state.	3 months from the effective date of establishment of nexus

C. Time line for registration by Natural Person

A natural person conducting business activity shall apply for tax registration as follows:

Category of Natural person	Timeline for submitting the application
A resident person conducting business activity whose turnover during 2024 Gregorian calendar year or subsequent years exceeds turnover of AED 1 million.	31^st March of the subsequent Gregorian calendar year
A non – resident person conducting business activity whose turnover during 2024 Gregorian calendar year or subsequent years exceeds turnover of AED 1 million.	3 months from the date when turnover exceeds AED 1 million.

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Who is exempted from Corporate Tax in the UAE

Following assesses are exempted from Corporate Tax

Qualifying public benefit entity
Qualifying investment entity
A public or private pension or social security fund
A juridical person wholly owned or controlled by a government entity, a government controlled entity, a qualifying investment fund, a public or private pension or social security

Corporate tax for Multinational Companies

Ans. Multinational companies need to check rules on place of effective management, residency & based on that their income will be taxable in UAE. They will have to prepare & maintain transfer pricing documentation.

UAE Corporate Tax Deregistration And Tax Return Filing

Ans. For legal entities, the deadline to submit corporate tax deregistration application is within 3 months from the date the Juridical person ceases to exist or within 3 months after the day the business was closed for a natural person.