VAT’s UP

FTA Announces Companies in the UAE must be Tax Complaint by May 2024 or Risk AED 10000 Penalty

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Abu Dhabi May 13 2024:

Tax payers are reminded that Corporate Tax Registration is Mandatory regardless of VAT registration status, turnover threshold, geographical presence (Mainland or Free Zone), or financial performance (profit/loss) in the UAE. The deadline for registration is May 31, 2024 depending on the trade license issue date. If you miss the deadline, you could be facing an AED 10,000 ($2700.00) fine.

The tax are based on the date their licence was issued. According to the tax authority, if a person has a licence issued in January or February (irrespective of the year), such person shall submit a tax registration application by May 31, 2024. In case a person does not have a licence on March 1, 2024, such a person shall have three months to submit a tax registration application until May 31, 2024.

CorporateTax Deadline