Comprehensive Guide to Corporate Tax Registration and Filing in UAE

Comprehensive Guide to Corporate Tax Registration and Filing in UAE

In the United Arab Emirates (UAE), corporate tax registration and filing are essential obligations for Taxable Persons, governed by the Federal Decree-Law No. 47 of 2022. This comprehensive guide outlines the key elements, processes, and deadlines associated with UAE corporate tax, emphasizing the importance of seeking expert assistance from Tax Consultants in UAE for seamless compliance.

Who Must Register for Corporate Tax in the UAE?

According to Federal Decree-Law No. 47 of 2022, taxable persons are mandated to register for corporate tax unless qualifying for specific exemptions outlined in the regulations. Even entities eligible for exemption under the decree-law or functioning as applicable unincorporated partnerships must register and obtain a Tax Registration Number (TRN) to qualify for such exemptions.

Corporate Tax Registration Process:

Initiating the corporate tax registration process involves corporations registering their trade license with the Federal Tax Authority (FTA) to secure a Tax Registration Number (TRN). This entails completing an online registration form and submitting requisite documents, including and not limited to the trade license and articles of incorporation. Once registered, businesses receive a TRN for use in all tax-related documents and filings.

Key Components of Corporate Tax Registration in the UAE:

  • Taxable Entities: Identification of entities subject to corporate tax, such as limited liability companies, partnerships, branches of foreign companies, and free zone companies (unless exempted).
  • Tax Registration: Businesses meeting corporate tax criteria must register with the FTA, providing accurate information about their trade license, ownership structure, financial records, and contact details.
  • Taxable Period: Determination of the taxable period by the FTA based on the company’s fiscal year, emphasizing accurate accounting records and timely filing and payment of taxes.
  • Taxable Profit Calculation: Application of FTA guidelines to calculate taxable profit, considering applicable tax rates and making necessary adjustments, deductions, and exemptions.
  • Tax Returns and Payments: Obligation for companies to file tax returns within specified time frames, including submission of required forms, statements, and supporting documents, with timely settlement of tax liabilities.
  • Accounting and Record-Keeping: Maintenance of accurate accounting records and supporting documents for at least five years from the end of the taxable period.
  • Auditing Requirements: Possible auditing requirements based on turnover and criteria, with the potential need for audited financial statements during tax assessments or investigations.
  • Penalties and Compliance: Awareness of penalties and fines for non-compliance, underscoring the importance of staying updated on tax regulations and promptly responding to tax authorities.

Corporate Tax Filing Process in the UAE:

The corporate tax filing process involves the following steps:

  • Obtaining a TRN: Businesses must obtain a unique TRN through the FTA’s online portal by providing essential information, including their trade license number, legal entity name, and contact details.
  • Keeping Accurate Records: Maintenance of accurate financial records, including income, expenses, and assets, for a minimum of five years, available for inspection by tax authorities.
  • Preparing the Tax Return: Ensuring the preparation of the tax return with all necessary documents and information, utilizing the tax return form provided by the FTA.
  • Submitting the Tax Return: Submission of the prepared tax return through the FTA’s online portal before the deadline to avoid penalties.

Deadlines for Corporate Tax Filing:

Companies in the UAE must file tax returns annually, with deadlines based on their financial year-end. The deadline for companies with a financial year-end of 31 December is 31 March of the following year. For companies with different financial year-ends, deadlines vary accordingly.

Choose UAE Tax Consultants:

To navigate the complexities of corporate tax registration and filing, it is advisable for taxable persons to engage seasoned tax consultants in the UAE. These experts provide invaluable assistance in ensuring seamless compliance with corporate tax regulations and standards. Thus, contact Farahat & Co today for comprehensive support in corporate tax matters and we shall be glad to assist you.

Reference: https://mof.gov.ae/wp-content/uploads/2022/12/Federal-Decree-Law-No.-47-of-2022-EN.pdf

Elitesoft & Makanak Express cooperate for E-commerce and Delivery service in UAE

Elitesoft & Makanak Express cooperate for E-commerce and Delivery service in UAE

Elitesoft, a leading Dubai-based software development company, and Makanak Express, a delivery company that is part of Al Mehmood group-Sharjah, has signed an MOU for cooperation to provide an end-to-end food ordering and delivery service in the Emirate of Sharjah. Through this cooperation, Elitesoft own Ebkar Market place App will be integrated with Makanak Express system and will offer a usage-based delivery service.

Ali Alnuaimi, Elitesoft CEO, said “We are excited for our alliance with the leading delivery service provider in Sharjah. This alliance adds a new dimension to our Ebkar platform. Most groceries and restaurants are still offline and not onboarded to a marketplace & delivery platform due to cost-related reasons. Our new alliance with Makanak Express provides a more competitive option for them to go online”.

Ahmed Al Mehmood, Makanak Express CEO said “The demand for food delivery service in Sharjah is exceptional with steady annual growth. Having a marketplace app within our service portfolio is a necessity that has consistently been raised by our clients. With this new alliance with Elitesoft, we are confident we are more strategically positioned.”

Zebra Techies Solution (ZTS) Becomes the Messiah for Businesses for Digital Marketing Solutions in UAE- See How

Zebra Techies Solution (ZTS) Becomes the Messiah for Businesses for Digital Marketing Solutions in UAE- See How

Zebra Techies Solution (ZTS), a leading digital marketing agency, is making a powerful impact in the UAE market with its unprecedented quality of services. They are now expanding their digital marketing operations, keeping all their competitors behind the game.

Zebra Techies Solution is pleased to announce its outstanding success in the Dubai market, which has undoubtedly paved the road for the quick growth and expansion of this company in the UAE. Zebra Techies Solution has teamed up with countless businesses across all industries in the UAE in order to help these businesses achieve significant results through various types of digital marketing services including SEO, SMO, Content marketing, PPC, web design, and development.

Using their skills and experience, the team at ZTS has associated businesses in increasing their revenue by an astonishing 20-29% last year in 2022 in various parts of the UAE.

Importance of Digital Marketing in the Growth of UAE-based Businesses

The UAE is an exciting place for businesses to dive into digital marketing to boost their business growth. The country’s got a thriving economy, tech-loving people, and a real thirst for new ideas. Just like its booming economy, the digital marketing scene here is full of life. As the UAE keeps on being a global hotspot for cool tech stuff, its digital marketing field is growing like crazy. Almost 98% of UAE people are internet friendly. This gives a huge scope to businesses to try out various types of digital marketing to reach potential audiences.

Compared to other countries, the UAE’s digital marketing game is strong. It’s all thanks to a bunch of clever people starting cool businesses and a forward-thinking government that loves new ideas. From awesome social media ads to super smart online plans, UAE businesses are making their mark in digital marketing. Digital marketing comes with a pool of advantages, giving each business a fair chance to compete digitally and win customers as many as they wish.

With Search Engine Optimization (SEO) services in UAE, businesses show up more when people search online about their related products or services. Then there’s Content Marketing – it’s like telling stories that people here love. Businesses can share local stories, new releases, product information, and funny or engaging memes related to their business to build trust and become pals with their customers through Social Media Marketing. People in the UAE love hanging out on social platforms, and that’s a goldmine for businesses to connect, chat, and get even bigger.

The picture is pretty clear that UAE opens the door to businesses to win customers through digital marketing.

The Journey of Becoming A Top Digital Marketing Company in the UAE

Zebra Techies Solution offers a comprehensive range of digital marketing services, at the most competitive rates. However, it was not that easy for any small-scale company to make such a significant impression within a short time. It actually took years. The journey of Zebra Techies Solution started back in 2010. Initially, the company started with a few trained employees and a few clients. With time, dedication and an unstoppable mindset, the team started to grow in number. After 4 years, the employee strength increased by 35% within this company. With this highly-trained and experienced talent pool, this company started leaving a long-lasting impression on the minds of global clients. While no other company was ready to deliver high-quality digital marketing services at a moderate budget, Zebra Techies Solution was ready. And, that was the moment when the company started winning clients from various parts of the world such as – UAE, USA, UK, Australia, and many more. Using more than 27+ top-rated tools, a fresh talent pool and utmost dedication to cater services for SEO, SMO, SEM, content marketing, PPC, web design and development- Zebra Techies Solution became one of the top 10 digital marketing companies in India. 

This was just the beginning. Zebra Techies Solution has more things to do on their to-do list. And, emerging as one of the top 5 digital marketing companies in the UAE is one of them. Becoming a leading digital marketing company in India to dominate the online digital space in the UAE was truly challenging. UAE is a highly competitive field and wearing the cap is no joke here. It took time for this company to understand the requirements of the UAE clients, challenges to overcome and strategies to surpass the competitors. It goes without saying, it was the team effort that landed this company in this winning position in the UAE market. Their statistics show that they have helped e-commerce companies in Dubai to increase their revenue by 27%-38% last year, 2022.

Zebra Techies Solution has worked with a diverse range of clients in the UAE, including e-commerce platforms, food providers, healthcare providers, educational institutions, financial institutions, construction firms, travel companies, medical companies, law firms, app and technology companies, and others. This company has helped these businesses understand their target niche and the best strategies to portray their products or services in the best possible way.

“The success in the UAE market put a stamp on the strong foundation for our expansion into the UAE market,” said Mr. Anirban Das, CEO of Zebra Techies Solution. He also added “We are excited to bring our expertise and services to businesses throughout the UAE. We want to assist them in reaching new heights of success in the digital landscape through our services.”

The dedication of Zebra Techies Solution to producing great digital marketing results has successfully gained the trust and loyalty of its clients and made it a top 3 Indian digital marketing company in Dubai, UAE.

As Zebra Techies Solution expands its presence in the UAE market, the company stays committed to delivering creative and effective digital marketing growth strategies. Their professionals have access to paid tools and resources as well as the most recent industry information- which all together allow them to navigate the dynamic digital landscape and produce outstanding outcomes.