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FTA Renews Call for PJSCs and PSCs to Register for Corporate Tax
Dubai September 04 2023:
The Federal Tax Authority (FTA) has renewed its invitation for Public Joint Stock Companies (PJSCs), Private Shareholding Companies (PSCs), limited liabilities companies and private companies resident in the UAE to register for Corporate Tax, in accordance with Federal Decree Law, which applies to financial years beginning on or after 1 June 2023.
The FTA emphasized the importance of prompt registration for corporate tax especially for the above companies and juridical persons with taxable income whose financial year started on 1 June 2023.
In January 2023, the FTA announced registration for Corporate Tax through the EmaraTax portal and invited specific categories of Taxable Persons to register. In May 2023, the FTA opened Corporate Tax registration for Public Joint Stock Companies and Private Shareholding Companies resident in the UAE. The FTA affirmed that it would provide taxpayers with sufficient time to complete registration and meet their legal obligations while giving priority to Taxable Persons whose financial year started on 1 June 2023, as part of the FTA’s strategy to ease the registration process.