VAT’s UP

VAT’s UP

FTA Receives Great Place To Work Certification™

Date: 01 Jul, 2024

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External URL: https://bit.ly/3Y9rZSt

Dubai July 01 2024:

The Federal Tax Authority (FTA) has been Certified™ by Great Place To Work®, the global authority on workplace culture, in recognition of its efforts to create a positive work environment that aligns with the highest international standards in this field.

The Federal Tax Authority affirmed that building a motivating work environment supported with all necessary components and tools to foster creativity and innovation is one of its top priorities. This ensures the highest levels of productivity and welfare for all FTA employees, which in turn enhances its ability to attract and retain national talents, thus contributing to the sustainable development and economic growth of the UAE.

The FTA has met all the criteria set by Great Place to Work by implementing several key initiatives, practices and quality programs that focus on enhancing the workplace environment and driving optimal development of the human capital.

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FTA Issues Clarification on Registration Timelines for Taxable Persons for Corporate Tax

Date: 12 Jun, 2024

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External URL: https://bit.ly/4enPDAr

Abu Dhabi June 12 2024:

The Federal Tax Authority (FTA) has issued a Public Clarification on the Registration Timelines for Taxable Persons for Corporate Tax, to further explain and clarify the specific deadlines for the different categories of Taxable Persons subject to Corporate Tax, and to encourage them to submit their Tax Registration application to the FTA.

The Public Clarification includes a comprehensive analysis and examples to help Taxable Persons understand how the timelines apply to their specific category. The FTA encourages all affected Persons to adhere to the specified timelines to ensure compliance and avoid any penalties. Therefore, it is crucial for all Taxable Persons to review the Public Clarification and ensure timely submission of their Corporate Tax Registration applications.

According to the Public Clarification, all Taxable Persons are required to submit a Tax Registration application to the FTA by the specified deadlines. Non-compliance will result in an administrative penalty of AED 10,000.

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FTA's Innovation Team Organises Workshop to Explore Sustainable Development of Tax Services

Date: 09 Jun, 2024

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External URL: https://bit.ly/3z3EAMM

Abu Dhabi June 09 2024:

Federal Tax Authority’s Innovation Team organises workshop to explore sustainable development of tax services in line with UAE’s Zero Government Bureaucracy Programme. His Excellency Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), asserted that the Authority is continuously launching more initiatives to speed up tax procedures, as part of the UAE’s Zero Government Bureaucracy Programme, which aims to reduce the duration of government services by 50%.

H.E. Al Bustani noted that the FTA is intensifying its efforts to introduce new services and facilities, further minimising procedures, and reducing service completion times, in line with the Programme’s objective to eliminate 2,000 government procedures in a year’s time.

The FTA Director General made his statement during a workshop organised by the Innovation Team at the Federal Tax Authority, in collaboration with the 01Gov platform, a distinguished partner in government innovation. The workshop focused on the Zero Government Bureaucracy Programme, outlining effective ways for participants to contribute to it. H. Khalid Al Bustani inaugurated the workshop, which was attended by Mr. Jassim Al Zarooni Chief , Innovation Officer

H.E. Al Bustani called on all stakeholders to come forward with ideas and suggestions for the sustainable development of tax services, line with the Zero Government Bureaucracy Programme, which aims to enhance efficiency, quality, and flexibility, while streamlining and reducing government procedures, and eliminating unnecessary steps and requirements.

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UAE Muwafaq Package Reports 4.5% Increase in Registration

Date: 16 May, 2024

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External URL: https://bit.ly/3wLocQ5

Abu Dhabi May 16 2024:

The Federal Tax Authority (FTA) reported a notable increase in the number of registrants benefiting from the diverse services, incentives, and privileges provided by the Muwafaq Package, which was launched to facilitate business operations and tax compliance for the small and medium-sized enterprises (SMEs) sector, indicating significant positive results for the Package in its first year.

The Authority revealed that the number of subscribers to the Muwafaq Package from the SMEs sector increased to nearly 54,000 by the end of 2023, marking a 4.5% growth from the 51,660 beneficiaries it had at its launch in March 2023. The FTA also indicated that outgoing calls from the Authority to Muwafaq Package subscribers over the past year amounted to 43,990, while the Muwafaq platform recorded 1,660 visits and 6,400 clicks, with 142 appointments being booked through the platform.

The FTA clarified that these indicators highlight a significant interest in the Muwafaq Package from stakeholders in the tax sector, with the platform reporting a 96% satisfaction rate among users. The Authority posted five videos on its Instagram page to introduce the Package, which recorded over 1.23 million views.

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

Date: 13 May, 2024

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External URL: https://twitter.com/uaetax/status/1773664056584368549/photo/3

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

UAE FTA Carries Out 39,470 Inspection Visits in 2023

Date: 05 May, 2024

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External URL: https://bit.ly/44AuCOF

Abu Dhabi May 05 2024:

The Federal Tax Authority (FTA) has intensified its supervisory efforts, in collaboration with various relevant entities, in a bid to protect consumer rights, combat tax evasion, and enhance tax compliance.

In 2023, the Authority carried out 39,470 inspection visits through 211 campaigns in local markets across all emirates of the UAE, marking an annual increase of 80.71% in the number of visits, as well as an 86.73% growth in the number of campaigns conducted, compared to 2022, which saw the FTA carry out 21,840 field visits through 113 inspection campaigns.

The Authority asserted that these campaigns form part of its plans to enhance market control by intensifying inspection visits to markets across the country, in order to ensure compliance with tax laws, legislation, and procedures, in addition to combating commercial fraud and preventing the sale of sub-standard or counterfeit products that negatively affect quality of life.

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FTA Urges Business Sectors to Share Suggestions for Sustainably Developing Tax Services

Date: 04 Apr, 2024

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External URL: https://bit.ly/3W9NLVl

Dubai April 04 2024:

The Federal Tax Authority (FTA) has called on business sectors to share their ideas and proposals for sustainably developing the Authority’s services; keeping pace with the Zero Government Bureaucracy Programme launched by the UAE Government; and boosting efficiency, quality, and flexibility, while streamlining government procedures and doing away with unnecessary requirements.

The Authority hosted a Suhoor event for representatives of various business sectors across the UAE, attended by His Excellency Khalid Ali Al Bustani, FTA Director General, and H.E. Mohammed Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment, along with several FTA officials. The event formed part of the Authority’s efforts to strengthen collaboration and continuous communication with its partners in both the government and priVate sectors.

During the gathering, attended by more than 210 representatives of large companies, SMEs, and government entities, H.E. Khalid Al Bustani stressed the importance of continuous communication between FTA representatives and all business sectors, in order to understand their opinions and highlight their contributions to the sustainable development plans that the Authority has set for its services and procedures.

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EmaraTax Smart Tax Services Application: A Landmark App

Date: 02 Apr, 2024

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External URL: https://bit.ly/49GRnBi

Dubai April 02 2024:

The Federal Tax Authority (FTA) asserted that providing the EmaraTax application for smart tax services to users was a landmark step towards enhancing the quality of the Authority’s services, noting that the app, which was launched in October 2023 at the 43rd GITEX GLOBAL, builds on the FTA’s efforts under its comprehensive strategy to drive digital transformation across all of its services, facilitate voluntary tax compliance, and provide proactive services to taxpayers.

The Authority explained that the EmaraTax application can be downloaded to smartphones through the Apple App Store and Google Play. The FTA noted that users have carried out over 4,570 operations through the app, which provides a wide range of digital services to taxpayers to enable users to manage their tax operations with precision, speed, efficiency, and transparency.

The FTA asserted that the EmaraTax application is continuously updated to keep pace with the FTA’s plans for the continuous development and expansion of its services, noting that customers can carry out procedures related to Value Added Tax (VAT) and Excise Tax through the app, which offers innovative solutions that allow them to easily access the Authority’s services from anywhere and at any time.

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Registration for Corporate Tax now available through Government Service Centers

Date: 25 Mar, 2024

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External URL: https://bit.ly/3IN4XIt

Dubai March 25 2024:

The Federal Tax Authority (FTA) has made the service to submit Corporate Tax registration requests available through 23 Government Service Centres located across the UAE. Enabling taxpayers to submit corporate tax registration requests through Government Service Centres allows them to register directly via the “EmaraTax” platform – a digital tax service that operates 24/7. In addition, taxpayers can also seek assistance from these accredited tax agents.

The FTA said the new initiative is part of the expansion of its service channels to encourage tax compliance by providing an environment that facilitates access to services. It allows taxpayers to submit a request for Corporate Tax registration with assistance from experts in Government Service Centres, which offer electronic services that meet government standards. These centres are managed by qualified staff to ensure quality service delivery.

The FTA signed cooperation agreements to accredit several government service centres. Browse the list of accredited centres that are authorised to offer Corporate Tax registration request services.

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The FTA Approves 27,330 Refund Requests for UAE Nationals Building New Residences

Date: 11 Mar, 2024

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External URL: https://bit.ly/3IDLTMI

Abu Dhabi March 11 2024:

The Federal Tax Authority (FTA) has reported a significant increase in the number of individuals who have benefited from the value-added tax (VAT) refund service for UAE nationals building new residences. The FTA stated that from the beginning of the service in 2018 until the end of last year, over 27,330 applications were approved for male and female UAE nationals, who were refunded the VAT they paid for building new residences. The total value of these applications exceeded AED 2.02 billion.

The FTA announced that the number and total value of approved applications have been continuously increasing. Statistics showed that the number of approved applications increased from 270 in 2018, valued at AED 9.11 million to 1,900 applications in 2019, with a total value of AED 121.46 million.

The number of approved applications further grew to 3,750 valued at AED 301.35 million, marking a significant growth of 97.16 percent in approved applications and 148.1% in tax refund value in 2020.

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The UAE Ministry of Finance Introduces a Dh 10,000 Penalty for Late Corporate Tax Registration

Date: 02 Mar, 2024

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External URL: https://bit.ly/3UXhdxf

Dubai March 02 2024:

The Ministry of Finance today announced the issuance of Cabinet Decision No. 10 of 2024, amending the schedule of violations and administrative penalties of Cabinet Decision No. 75 of 2023 on the administrative penalties for violations related to the application of Federal Decree-Law No. 47 of 2022 on the taxation of corporations and businesses. Cabinet Decision No.10 of 2024 will come into effect on March 1, 2024.

The Ministry stated that an administrative penalty of AED 10,000 for late registration of UAE Corporate Tax will be imposed on businesses that do not submit their Corporate Tax registration applications within the timelines specified by the Federal Tax Authority.

For registering before the deadline or clarifying your queries send an email to enquiry@legendsaccounting.com or WhatsApp us

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FTA issues New Decision on Specified Timeframes for Corporate Tax Registration

Date: 01 Mar, 2024

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External URL: https://bit.ly/4bZLxNB

Dubai March 01 2024:
The Federal Tax Authority (FTA) has specified timeframes for Taxable Persons subject to Corporate Tax to apply to register with the FTA and avoid being in violation of tax laws. 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 June 1, 2023.

Effective from March 1, 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.

The Decision indicates that a juridical person that is a Resident Person incorporated, established, or otherwise recognised prior to March 1, 2024 must apply to register for Corporate Tax within the following timeframes:

The FTA stressed the importance of submitting Corporate Tax registration applications in accordance with the timeframes specified in the Decision. It added that taxable persons with licenses issued in January and February regardless of the year license was issued, must submit their Corporate Tax registration applications no later than May 31, 2024, to avoid tax law violations.

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FTA Secures Accreditation as a Certified Government Innovative Organisation

Date: 27 Feb, 2024

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External URL: https://bit.ly/48Cgchc

Dubai February 27 2024:

FTA has been honoured with the prestigious title of “Certified Government Innovative Organisation – Advanced Level” by the esteemed Global Innovation Institute (GInI), a specialised entity in innovation assessment for organisations granting professional certifications, accreditations and membership in the field of innovation.

This milestone coincides with the FTA’s active engagement in the events of “UAE Innovation Month 2024” which ran throughout the month of February.

The acquisition of the prestigious “Certified Government Innovative Organisation” certificate, endorsed in the United States and exclusively crafted for governmental bodies, signifies the Federal Tax Authority’s remarkable strides in innovation and development. This accolade underscores the Authority’s commitment to pioneering advancements and signals its unwavering dedication to pushing the boundaries in the realms of innovation and progress.

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FTA Signs Agreement with 01GOV Platform to Expand Use of its Tax 10 Platform

Date: 22 Feb, 2024

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External URL: https://bit.ly/48r9Uks

Dubai February 22 2024:

As part of its agenda for the ‘UAE Innovates 2024’ initiative, held throughout the month of February, the Federal Tax Authority (FTA) signed a collaboration agreement with the 01GOV Platform, in an effort to expand the use of its own TAX 10 platform.

The Authority launched Tax 10 last year to encourage innovation, promote institutional excellence and professional creativity among its employees, in a bid to ultimately upgrade its services, drive sustainable development and promote a culture of innovation.

The agreement forms part of the FTA’s community contribution during the monthlong ‘UAE Innovates 2024’ initiative. The Authority aims to encourage cooperation among various government entities, local academic institutions and tax authorities across the region in order to enhance innovation in the public sector and provide a model for using advanced technology to upgrade government services.

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FTA Earns ISO Certificate for Implementing International Standard in its Innovation Management System

Date: 09 Feb, 2024

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External URL: https://bit.ly/42UXCQp

Abu Dhabi February 09 2024:

The innovation management system of the Federal Tax Authority (FTA) has earned a new international accreditation, in recognition of it implementing global best practices and standards that enhance the effectiveness and efficiency of innovation management.

The Authority has been awarded the ISO 56002:2019 certificate, confirming its success in implementing the international standard for innovation management. This achievement coincides with the FTA’s participation in the month long UAE Innovates 2024 initiative.

The certification was granted after experts from the certifying body audited the FTA’s system and verified the accuracy of all related procedures. The Authority passed the audits successfully, confirming that its system provides an effective framework for driving innovation.

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FTA Launches Hackathon Event to Encourage Innovators in the Tax Sector

Date: 08 Feb, 2024

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External URL: https://bit.ly/3SCZU1G

Dubai February 08 2024:

As part of its agenda for participating in the month long ‘UAE Innovates 2024’ initiative, held throughout the month of February, the Federal Tax Authority (FTA) has opened the door for participation in its Hackathon event.

With the Hackathon, the Authority aims to develop innovative technological solutions for the challenges the tax sector faces, in addition to strengthening cooperation and partnership among government, educational, and private institutions to achieve a sustainable impact.

The FTA invited innovators to participate in the event, which offers them an opportunity to generate pioneering solutions that address the challenges facing the tax sector in several aspects, including raising awareness about taxes in the community; employing advanced technology to streamline procedures, such as the submission of tax returns for small and medium-sized enterprises (SMEs); and combating tax evasion.

Submissions will continue to be accepted until 23 February, after which the Authority will organise a special event on 29 February at the Dubai Creative Hub – Emirates Towers, in collaboration with world-leading software developers SAP, the FTA’s strategic partner in digital transformation.

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FTA Launches 2nd Phase of Corporate Tax Awareness Campaigns in Abu Dhabi

Date: 06 Feb, 2024

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External URL: https://bit.ly/48hrZS1

Abu Dhabi February 06 2024:

Tax Authority (FTA) has launched the second phase of its comprehensive campaign to raise business sectors’ awareness of Corporate Tax and provide continuous knowledge support to taxpayers. The campaign is part of the FTA’s efforts, in collaboration with the relevant parties, to ensure a seamless implementation of the Corporate Tax Law which entered into effect in June and applies to financial years that began on or after 1 June 2023.

The FTA explained in a press release today that the new phase of the Corporate Tax awareness campaign – which runs until the end of this year – will feature a number of events and virtual as well as in-person workshops across the UAE’s seven emirates. The program will focus on raising awareness about various specific topics such as legislation and the requirements and procedures for Corporate Tax compliance and will be tailored to the needs of each of the concerned taxpayer.

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