Corporate Tax
- - Customized Tax Impact Assessment
- - Transition Support
- - Post-Implementation Support
- - Tax Group v/s Individual Entity Registration
Have you registered for Corporate Tax yet? Avoid AED 10,000 penalty by registering for Corporate Tax today!
Clause 1 of Article 51 of the Federal Decree Law No. 47 of 2022 (UAE CT Law) provides that a Taxable Person shall register for Corporate Tax within the form and manner and within the timeline prescribed by the Authority and obtain a Tax Registration Number, except in circumstances prescribed by the Minister.
In relation to above, the Federal Tax Authority (FTA) has recently issued the Decision No. 3 of 2024 which prescribes the timelines for registration of Taxable Person for Corporate Tax for the purpose of UAE CT Law (the decision is effective from 1 March 2024).
Resident Juridical Person Incorporated or otherwise established prior to 1 March 2024
| Date of License issuance irrespective of year of issuance | Deadline for submitting a Tax Registration application |
|---|---|
| 1 January to 31 January | 31 May 2024 |
| 1 February to 28/29 February | 31 May 2024 |
| 1 March to 31 March | 30 June 2024 |
| 1 April to 30 April | 30 June 2024 |
| 1 May to 31 May | 31 July 2024 |
| 1 June to 30 June | 31 August 2024 |
| 1 July to 31 July | 30 September 2024 |
| 1 August to 31 August | 31 October 2024 |
| 1 September to 30 September | 31 October 2024 |
| 1 October to 31 October | 30 November 2024 |
| 1 November to 30 November | 30 November 2024 |
| 1 December to 31 December | 31 December 2024 |
| Where a person does not have a Licence at the effective date of this Decision | (3) three months from the effective date of this Decision |
Key Takeaways
In case a juridical person is having more than one Licence, the Licence with the earliest issuance date shall be used for determining the timelines/ deadlines
Resident Juridical Person Incorporated or otherwise established on or after 1 March 2024
| Category of juridical persons | Deadline for submitting a Tax Registration application |
|---|---|
| Person that is incorporated or otherwise established or recognised under the applicable legislation in the State, including a Free Zone Person | 3 months from the date of incorporation, establishment or recognition |
| Person that is incorporated or otherwise established or recognised under the applicable legislation of a foreign jurisdiction that is effectively managed and controlled in the State (POEM in UAE) | 3 months from the end of the FY of the person |
Key Takeaways
In case a juridical person is having more than one Licence, the Licence with the earliest issuance date shall be used for determining the timelines/ deadlines
Non Resident Juridical Person prior to 1 March 2024
| Category of juridical persons | Deadline for submitting a Tax Registration application |
|---|---|
| With a PE in UAE | 9 months from the date of existence of the PE |
| With a Nexus in UAE | 3 months from the effective date of this Decision |
Non Resident Juridical Person on or after 1 March 2024
| Category of juridical persons | Deadline for submitting a Tax Registration application |
|---|---|
| With a PE in UAE | 6 months from the date of existence of the PE |
| With a Nexus in UAE | 3 months from the date of establishment of the Nexus |
Natural Person conducting business/ business activities in UAE
| Category of natural persons | Deadline for submitting a Tax Registration application |
|---|---|
| Natural Person conducting Business or Business Activity during 2024 Gregorian calendar year or subsequent year and total Turnover in Gregorian calendar year exceeds threshold specified (i.e. AED 1 million) | |
| Resident Person | 31 March of the subsequent Gregorian calendar year |
| Non-Resident Person | 3 months from the date of meeting the requirements of being subject to tax |
Tax departments which are based in-house in companies are often challenged to meet constantly changing requirements. Our experienced professionals will ensure a smooth and seamless transition to the new era of CT regime with MBG’s Corporate Tax in UAE Offerings. This way your team’s burden is lessened. Our corporate tax teams are already working on tax impact assessments, transfer pricing reviews, cross-border transaction reviews and planning operational implementation for several businesses in the UAE.
The aforesaid phases in the diagram be changed to as under:
At MBG Corporate Services, we give you a holistic 360 degree approach to the implications of the upcoming Corporate tax regime. We offer solutions related to legal, VAT, audit, IFRS, and other UAE-related laws and regulations.
Mayur Batra has over two decades of experience in advising multinationals and Indian business enterprises on a spectrum of matters relating to Foreign Investment policy, cross-border transactions, tax controversy, Foreign Exchange Control Regulations and Corporate Laws and Business re- structuring. He has expertise in the area of International tax policy, contentious cross-border tax treaty issues in overseas territories. He has been actively involved in obtaining various statutory and regulatory approvals, licenses, clearances etc., from statutory agencies. With his long experience he brings expertise of converting complex business transactions into viable profitable propositions. He has played an instrumental role in expanding the firm’s practice over diverse service verticals in the UAE region including its empanelment as an ICV certifying agency by ADNOC. Prior to setting up MBG, Mayur has served as the Chief Financial Officer at the corporate office of one of the largest Japanese Trading houses.
Amit Sachdev has specialist expertise in International Tax Advisory, Cross-Border Transactions and Entry and Exit Strategy Formulation.
He is a Chartered Accountant and has more than 20 years of experience in Tax Laws, Accounting, Foreign Investment, Foreign Exchange Control Regulations and Corporate Laws. He has assisted several global companies in evaluating Cross-Border Transactions, end-to-end assistance in Mergers and Acquisition deals including Structuring, Tax and Regulatory implications.
Badri has over three decades of rich finance and accounting experience across the government, semi-government and private sectors. At Federal Tax Authority (FTA), he became the first Head of the Tax returns and Payment Department in UAE history. Prior to this, he was Finance Assistant Director at Dubai Airport Free Zone (DAFZ) where he worked for 14 years. He has also served in the UAE army for 17 years before joining DAFZ. UAE Government has awarded him for his performance many times.
Manoj Pandey is a Chartered Accountant with more than 20 years of professional experience. He specializes in development of tax strategies, transfer pricing, BEPS, Cross border taxation and M&A services. He also leads MBG’s Abu Dhabi operations. He has played a key role in advising clients on tax and regulatory advisory in a fund structure, entity options on inbound and outbound investment both from the GCC countries’ perspective as well as from Indian tax and regulatory perspectives.
Komal Grover is a Chartered Accountant with 11 years of professional experience in the field of Corporate and International taxation. Komal's core experience includes advising clients in the field of tax technology & transformation, corporate tax structuring, mergers & acquisitions, tax implications on cross-border transactions, tax treaty(s) analysis, controversy and dispute resolution, etc. She has worked with clients in diverse industries such as manufacturing, trading, consumer/ industrial products, hospitality, automotive, real estate, aviation, IT & ITES services and others.
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