Corporations or businesses that earn over AED 1 million in gross income per annum are now required to obtain a Corporate Tax Registration Number (TRN). This manual offers a thorough overview of how to use the registration process for the Federal Tax Authority’s (FTA) website (Emarat tax portal). Corporate Tax consultant Dubai who are employed with Farahat & Co. can help you register your business for corporate Tax and, hence, obtain your corporate tax registration certificate without much hassle.
Is Corporate Tax registration compulsory for your business in the UAE?
Be sure your company satisfies the following requirements before starting the registration process:
- Taxable Entity: Limited Liability Companies (LLCs), international branches, and partnerships are among the entities that fall under the jurisdiction of Connecticut and are part of your business structure. In general, sole proprietorships are exempt if their yearly taxable profits are less than AED 375,000.
- Overcoming the Barrier: Within a fiscal year, your company’s taxable profits have exceeded the AED 1 million mark.
- Valid Business License: You have a trade license that is currently valid and granted by the appropriate UAE authority.
Note: There may be exemptions or reduced CT costs under specific free zone policies. You must study the rules set forth by your free zone authorities and get advice from an appropriate tax consultant in Dubai for a more comprehensive understanding.
Procedure for applying corporate tax registration number in UAE
The procedure to register for corporate Tax in the UAE is quite simple. The basic procedure can be divided into two parts.
- Documents collection
This step involves keeping a record of all the documents needed for corporate tax registration. These may vary from case to case, but a basic list of documents has been presented below-
- Trade License Copy: Verify that the trade license is up to date and in effect.
- Passport Copies: Give copies of each person’s passport, including who is an owner, partner, or shareholder.
- Copies of Emirates IDs: If relevant, send copies of Emirates IDs to any shareholders, partners, or business owners who live in the United Arab Emirates.
- Articles of Association (AOA) or Memorandum of Association (MOA): This document describes the founding and organizational framework of the company.
- Details of Contact: Get ready with your business contact information, such as a working phone number and email address. Furthermore, prepare the contact details of an internal company representative who will handle tax-related concerns.
- Tax Period: Select the period that applies to your business, which is usually the same as your fiscal year.
- Online corporate tax registration steps
In this part, you are required to register your company for corporate Tax by following the following steps:-
- Find the Emara Tax Portal here: Go to https://tax.gov.ae/en/ to access the official FTA website. Select “Emara Tax” to gain entry to the tax portal.
- Login or Register: If you already have an account with the FTA for VAT purposes, use those login credentials to access the account. If not, establish a new account by clicking “Sign Up” and following the on-screen directions.
- Find the Corporate Tax Section: After logging in, proceed to the Corporate Tax section. This may be referred to as “Corporate Tax Services” or “CT Registration.”
- Start the Corporate Tax Registration Process by selecting the “Register” option. Usually, this will start a fresh application form.
- Company Information: Please carefully fill out the application form with correct information about your business, such as the registered address, legal name, and trade license number.
- Authorized Signatory: Assign a designated individual inside your organization to handle CT affairs and file tax returns on the company’s behalf. Give their contact details and any required authorization proof documents.
- Review and Submission: After filling out every component of the application, make sure that the information you entered is accurate by carefully reviewing it. After you’re pleased, apply online.
- Application Processing: From the date of submission, applications for CT registration are normally processed by the FTA in 20 working days. From the FTA, you will receive information about the progress of your application.
Once approved, the corporate tax registration number similar to the VAT TRN will be generated and intimated to you. The certificate of corporate tax registration can be downloaded from the certificates section in the Emara Tax portal. For any doubts related to registration or documentation, the corporate tax consultant in Dubai shall be contacted.
Beyond Enrollment: Sustaining Compliance with CT
After you’ve successfully registered and obtained your TRN, remember to continue adhering to CT compliance rules. Among them are:
- Preserving accurate accounting documentation to make CT computations easier.
- Online submitting CT returns within the allotted period, which is usually 15 months after the end of the fiscal year.
- Settling any CT obligation that is due within the allotted time.
Far Consulting Middle East are corporate tax agents who can help you in obtaining your corporate tax registration number.
Are you in an uncertain business climate navigating UAE’s new Corporate Tax? Farahat & Co., a trusted corporate tax consultant Dubai, can simplify the process. We’ll guide you through obtaining your Corporate Tax Registration Number and ensure CT compliance. Contact us today and focus on running your business; leave the tax complexities to us.
