No Aspect Details
1 Corporate Tax Registration Businesses must register with the FTA and obtain a Tax Registration Number within the specified time frame. FTA can register qualifying entities if voluntary registration is not done.
2 Record-Keeping Requirements Businesses must maintain financial and other records explaining corporate tax return details and submit them to the FTA. Exempted entities must maintain records to prove their exempted status.
3 Audited Financial Statements The need for financial statement audits is determined by company laws. Free zone businesses must audit statements to avail the 0% corporate tax rate. Consult tax consultants for details.
4 Corporate Tax Deregistration A person with a Tax Registration Number must submit a Tax Deregistration application to the Authority when their business ceases, following specified procedures and timelines.
Deregistration is only allowed if all Corporate Tax, Penalties, and Tax Returns have been paid and filed. If approved, the deregistration is effective from the cessation date.
Non-compliance may lead to deregistration based on specific criteria determined by the Authority.
5 Corporate Tax Return Filing Businesses file one corporate tax return per tax period and related supporting schedules within nine months after the end of the relevant Tax Period. No provisional tax return or advance payments are necessary.
6 Corporate Tax Payments Refunds The Corporate Tax Payable under the Corporate Tax Law must be settled within nine months from the end of the relevant Tax Period or as decided by relevant authority. Refunds are applicable in cases where Taxable Persons have overpaid and are owed money by the Authority. Consult tax consultants for assistance.
7 Corporate Tax Assessments UAE corporate tax operates on a self-assessment principle. Businesses are responsible for accurate and compliant tax returns. FTA reviews and issues assessments within prescribed timeframes. Taxpayers can challenge amended assessments following procedures in the Tax Procedures Law. Consult tax agents for assistance.