UAE residents subject to corporate tax must submit their corporate tax registration application by June 30

The Federal Tax Authority (FTA) reminded citizens of the United Arab Emirates who are subject to corporation tax and have licenses issued in March and April, regardless of the year of issuance, that they must submit their corporate tax registration application by June 30. 

The deadline for submitting corporate tax registration forms is today, May 31, for juridical persons (recognized companies with separate legal personality from its founders, owners, and directors) that did not have a license by March 1 of this year.

Both foreign entities that are successfully managed and controlled in the United Arab Emirates as well as juridical persons incorporated there are subject to corporation tax. Entities incorporated in the UAE, as well as companies operating in free zones and those founded outside but controlled and managed domestically, are included in the category of resident juridical taxable persons.

As per the Ministry of Finance, individuals engaged in business operations within the United Arab Emirates will only be liable to corporation tax if their aggregate annual turnover above Dh1 million. 

Companies who fail to register for taxes by the deadline will be fined Dh10,000, according to a Cabinet resolution from February of this year.