The United Arab Emirates (UAE) is one of the fastest-growing business hubs in the world. The government of UAE has taken significant measures to make the country an attractive destination for foreign investors, and one of these measures is the implementation of a tax system. The introduction of a tax system has been a significant step towards improving the country’s economic growth and diversifying the economy. In this article, we will provide a comprehensive guide to UAE corporate tax registration on the Emaratax platform.
Overview of UAE Corporate Tax
Corporate tax is a tax imposed on the profits earned by companies in the UAE. The tax is imposed on both local and foreign companies that operate in the UAE. The corporate tax rate in the UAE is set at 5%, which is one of the lowest tax rates in the world. However, not all companies are required to pay corporate tax, and some companies are exempted from paying the tax.
The corporate tax is imposed on the profits earned by companies in the UAE. Profits are calculated by subtracting the expenses incurred by the company from the revenue generated by the company. The tax is paid annually, and companies are required to file their tax returns with the Federal Tax Authority (FTA) every year.
UAE Corporate Tax Registration on Emaratax Platform
The Emaratax platform is an online platform that allows companies to register for corporate tax in the UAE. The platform is designed to simplify the process of corporate tax registration and make it easier for companies to comply with tax regulations in the UAE. The platform is available to all companies that are required to pay corporate tax in the UAE.
Step-by-Step Guide to UAE Corporate Tax Registration on Emaratax Platform
Step 1: Create an Account on Emaratax Platform
The first step in registering for corporate tax on the Emaratax platform is to create an account. To create an account, visit the Emaratax platform website and click on the “Sign Up” button. You will be prompted to provide your email address and password. After providing the necessary information, click on the “Create Account” button to complete the registration process.
Step 2: Complete the Registration Form
After creating an account on the Emaratax platform, you will be prompted to complete a registration form. The registration form requires you to provide information about your company, including your company name, address, contact information, and trade license number. You will also be required to provide information about your company’s shareholders and directors.
Step 3: Upload Required Documents
After completing the registration form, you will be prompted to upload the required documents. The required documents include a copy of your trade license, a copy of your company’s memorandum of association, and a copy of your company’s articles of association. You will also be required to provide a copy of your company’s financial statements for the past year.
Step 4: Submit Your Application
After uploading the required documents, you will be prompted to submit your application. Before submitting your application, make sure that all the information provided is accurate and complete. After submitting your application, you will receive a confirmation email from the Emaratax platform.
Step 5: Pay the Registration Fee
After submitting your application, you will be required to pay the registration fee. The registration fee is AED 10,000, and it is payable through the Emaratax platform. You can pay the registration fee using a credit card or a bank transfer.
Step 6: Receive Your Tax Registration Certificate
After paying the registration fee, your application will be processed, and you will receive your tax registration certificate. The tax registration certificate will be sent to your email address, and it will include your company’s tax registration number.
UAE Corporate Tax Exemptions
While all companies operating in the UAE are required to register for corporate tax, some companies are exempted from paying the tax. The following are some of the exemptions:
- Companies registered in the UAE’s free zones are exempted from paying corporate tax for a period of 50 years.
- Companies engaged in oil and gas exploration and production activities are exempted from paying corporate tax.
- Companies that are 100% owned by UAE nationals are exempted from paying corporate tax.
- Companies engaged in agriculture and fishing activities are exempted from paying corporate tax.
- Companies engaged in educational and healthcare activities are exempted from paying corporate tax.
It is important to note that these exemptions are subject to certain conditions and requirements. Companies that are exempted from paying corporate tax are still required to register for tax and file their tax returns with the FTA.
The implementation of a corporate tax system in the UAE has been a significant step towards improving the country’s economic growth and diversifying the economy. As a registered VAT consultancy, Prime Services Dubai is well-equipped to help companies navigate the complex tax regulations in the UAE.
The corporate tax rate in the UAE is set at 5%, which is one of the lowest tax rates in the world. However, not all companies are required to pay corporate tax, and some companies are exempted from paying the tax. Companies registered in the UAE’s free zones are exempted from paying corporate tax for a period of 50 years, while companies engaged in oil and gas exploration and production activities, companies that are 100% owned by UAE nationals, and companies engaged in certain activities such as agriculture, fishing, education, and healthcare are also exempted from paying corporate tax.
To register for corporate tax in the UAE, companies can utilize the Emaratax platform, an online platform that simplifies the registration process. Companies must provide accurate and complete information about their business, shareholders, and directors, and must also upload required documents such as a copy of their trade license, memorandum of association, articles of association, and financial statements for the past year. Companies must also pay a registration fee of AED 10,000 to complete the registration process.
Prime Services Dubai can provide valuable assistance to companies looking to register for corporate tax in the UAE. Their team of experts can help companies navigate the registration process, ensure compliance with tax regulations, and provide ongoing support and advice to help companies manage their tax obligations. With their extensive knowledge and experience in UAE tax laws, Prime Services Dubai can provide the guidance and support needed to help companies operate successfully in the UAE. It has a team of vat consultants in Dubai that are ready to help you.
Conclusion
In conclusion, the implementation of a corporate tax system in the UAE has been a significant step towards improving the country’s economic growth and diversifying the economy. The Emaratax platform provides an efficient and convenient way for companies to register for corporate tax in the UAE. By following the step-by-step guide outlined in this article, companies can easily register for corporate tax on the Emaratax platform. It is important for companies to comply with tax regulations in the UAE to avoid penalties and ensure their continued operation in the country.
