Reasons why businesses in the UAE should promptly update their tax records.
Companies in the United Arab Emirates are required to file for corporate tax before the specified deadlines, but any amendments to their organizational structures after registration must be instantly reported to the tax authorities.
Registrants must notify the FTA of any information that may need to be amended regarding their tax record that is held by the FTA, such as the following changes:
• Name, address and email address.
• Trade license activities.
• Legal entity type, partnership agreement for unincorporated partnerships and articles of association or its equivalent.
• Nature of the business of the registrant.
• The address from which any business is conducted by the registrant.
However a new decision has been made to support businesses in effectively fulfilling their tax duties, as stated by the Federal Tax Authority (FTA). The decision provides a grace period for tax registrants who have not updated their tax records for the period from January 1, 2024, to March 31, 2025.
Public clarification explains that registrants are required to give the FTA 20 business days' notice of any changes to their tax information as part of standard processes. If this isn't done, there will be administrative penalties related to the tax violation. To encourage proactive compliance, amendments made within the grace period will not be subject to this penalty.
It is advisable to keep a copy of the application's acknowledgement and references, and make sure amendment applications are filed within 20 business days of any modifications to avoid any penalties.
Our corporate tax service team can assist you on the registration for Corporate Tax and keep your tax records up to date with FTA.
If you need any professional advise/ guidance regarding UAE CT and VAT, you may please contact our Tax Department:
Email: [email protected]
[email protected]
Phone: +971 454 13205
+971 457 52971
Website: www.chrysalisserve.com
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