UAE: Corporate tax registration for private companies starts tomorrow – News

PJSC and private companies to pay 9% corporate tax at the start of their first financial year commencing on or after 1 June 2023

Starting tomorrow, Monday, May 15, 2023, the UAE Federal Tax Authority (FTA) will launch corporate tax registration for public joint stock companies and private companies through the EmaraTax digital tax services platform.

According to the Federal Decree No. 47 of 2022 on Taxation of Companies and Corporations, PJSC and private companies will pay a corporate tax of 9% from the beginning of their first financial year commencing on or after June 1, 2023. Therefore, they must register And obtain a tax registration number for corporate tax purposes.

The FTA invited all UAE-based companies to register with the FTA for corporate tax purposes, noting that this would exclude free zone companies, which would be registered at a later stage.

Similarly, other categories of corporate tax registrations will also be opened at a later date.

The authority explained that early corporate tax registration will allow companies and businesses ample time to fulfill their legal obligations.

Currently, the registration procedure is only available for individual legal entities. Entities wishing to form a corporate tax group will need to register separately before they can apply for group formation.