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The timeframes were outlined in a new Decision issued by the FTA regarding the deadlines to apply for registration under Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and its amendments, which came into effect in June of last year and applies to Tax Periods starting on or after 1 June 2023.
Effective from 1 March 2024, the new FTA Decision defines timeframes for applying to register for Corporate Tax that apply to juridical persons and natural persons, that are either Resident Persons or Non-Resident Persons.
If Your Trade license issued month is JAN/FEB Any year, Your last date to apply for CT is Before 31-05-2024
If Your Trade license issued month is MAR/APR Any year, Your last date to apply for CT is Before 30-06-2024
If Your Trade license issued month is MAY Any year, Your last date to apply for CT is Before 31-07-2024
If Your Trade license issued month is JUNE Any year, Your last date to apply for CT is Before 31-08-2024
If Your Trade license issued month is JULY Any year, Your last date to apply for CT is Before 30-09-2024
If Your Trade license issued month is AUG/SEPT Any year, Your last date to apply for CT is Before 31-10-2024
If Your Trade license issued month is OCT/NOV Any year, Your last date to apply for CT is Before 30-11-2024
If Your Trade license issued month is DEC Any year, Your last date to apply for CT is Before 31-12-2024
As per the Latest Information, every company with trade license in UAE Needs to be registered for Corporate Tax.
You have to submit your business incomes 9% tax to govt for one financial year, after completing one year you will have 9 months time to submit it govt.
Your financial year is mentioned on your Memorandum of association Article 13, there your financial year mentioned. If your financial year is JAN-DEC, Then your corporate tax submission period is JAN-DEC 2024 and you are required to submit it to govt before Sept 2025
It is calculated at 9% of the net profit shown in the company's financial statements. The 9 % corporate tax will be levied only if the taxable net profit exceeds 375,000 AED.For example, If the net profit is 500,000 AED, You have to pay 9% on 125,000 i.e, AED11250
We are here to provide you with registration and after all accounting services such as calculation of Corporate Tax
Yes, You are required to maintain financial statements such as Trial balance , Profit & Loss Account, Balance sheet and Books of Accounts such as SOA, Cash Book, Bank Book, Stock Summary etc
Ofcourse, we are already on the track and full set prepared to welcome the corporate tax, we will take care of your companies corporate tax accounts work.
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All company in UAE Which are Subject to register for corporate tax Must have to register for Corporate Tax before the deadline specified by authority to avoid AED 10,000