The Federal Tax Authority has issued Decision No. 3 of 2024, which will be effective from 1 March 2024. The decision specifies the timeline for the registration of taxable persons for corporate tax purposes.
Key Points from the Decision:
- Registration Deadlines for Resident Juridical Persons:
- Existing juridical persons must submit their tax registration applications based on the date of license issuance, with deadlines ranging from 31 May 2024 to 31 December 2024.
- New juridical persons must submit their applications within three months from the date of incorporation, establishment, or recognition.
- Registration Deadlines for Non-Resident Juridical Persons:
- Non-resident persons with a permanent establishment in the UAE must register within nine months from the date of existence of the establishment.
- Non-resident persons with a nexus in the UAE must register within three months from the effective date of the Decision or the date of establishment of the nexus.
- Registration Deadline for Natural Persons: Natural persons conducting business in the UAE must register by 31 March of the subsequent Gregorian calendar year if their total turnover exceeds the specified threshold.
- Late Registration: Administrative penalties of AED 10,000 will apply to entities failing to register within the specified timelines
Please review the complete Decision for detailed information on the registration process and deadlines.
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