There’s important news for businesses operating in the United Arab Emirates (UAE). The new Corporate Tax (CT) regime is in effect, and the deadline for registration is approaching fast.
What You Need to Know:
- The CT rate is 9% for any business exceeding a threshold of AED 375,000 in annual taxable income. Businesses earning less are exempt.
- Registration is mandatory for all businesses subject to CT. Missing the deadline can result in a hefty fine of AED 10,000.
- Time is running out! The exact deadline depends on your company’s financial year, but act promptly to avoid penalties.
Take Action Now:
- Check your eligibility: Determine if your business falls under the CT bracket based on your annual income.
- Register with the Federal Tax Authority (FTA): Visit the FTA website or consult a tax professional for registration guidance.
Need Help Filing?
Wise Edge Consultancy can assist you with the Corporate Tax filing process. Our team of experts can help ensure your registration is completed accurately and on time.
- Email: info@wiseedgeconsultancy.com
- Whatsapp: +971 52 231 2683
Stay Informed:
The UAE government and the FTA offer resources to help businesses navigate the new CT system. Here are some helpful links:
- Federal Tax Authority (FTA): https://tax.gov.ae/en/
- Updates on Corporate Tax in the UAE: https://www2.deloitte.com/ae/en/pages/tax/articles/updates-on-corporate-tax-in-the-uae.html
Don’t wait until the last minute! By registering for Corporate Tax on time, you can ensure compliance and avoid unnecessary fines. Remember, this blog post is for informational purposes only. For specific tax advice, consult with a qualified professional.