Abu Dhabi: The Federal Tax Authority (FTA) reminded individuals with Corporate Tax licences issued in March and April (regardless of the year of issuance) to submit their Corporate Tax registration applications by June 30, 2024, to avoid penalties.
Tthe FTA emphasised the necessity to adhere to the Decision No. (3) of 2024, effective from March 1, which established deadlines for taxpayers subject to Corporate Tax to submit registration applications.
The FTA highlighted that administrative penalties are imposed on those who fail to submit Corporate Tax registration applications within the specified timeframes outlined in the FTA’s Decision.
The Ministry of Finance had earlier confirmed in a separate statement that those who will miss the deadline for registration will face an administrative penalty of Dh10,000 ($2,700).
The FTA stated that the specified periods for submitting Corporate Tax registration applications include both resident and non-resident juridical persons, as well as natural persons.
The FTA clarified that a resident natural person conducting business or business activities within the UAE during 2024 or subsequent years, with total earned revenues exceeding Dh1 million within a year, must submit their Corporate Tax registration application by March 31 of the following year. On this basis, the deadline for submitting registration applications for resident natural persons conducting business or business activity in the country in 2024 and whose total earned revenues for 2024 exceed Dh1 million is March 31, 2025.
The FTA added that a non-resident natural person conducting business activities within the UAE during 2024 or subsequent years, and whose total earned revenues exceed Dh1 million, must submit their corporate tax registration application within three months of meeting the corporate tax eligibility criteria.
