As a part of its complete marketing campaign to boost consciousness of Company Tax amongst enterprise sectors, the Federal Tax Authority (FTA) held its third workshop of the 12 months in Ras Al Khaimah (RAK), devoted to familiarising members with the foundations for figuring out taxable earnings beneath the Company Tax framework.
In a press assertion issued right this moment, the FTA highlighted that this workshop types a part of a collection of occasions, delivered each just about and in particular person throughout all emirates of the nation, which is able to proceed all through 2025. The FTA famous that greater than 2,300 members have benefitted from the three consecutive workshops just lately held in Dubai, Abu Dhabi, and RAK — together with representatives from enterprise sectors and stakeholders from each the private and non-private sectors concerned in taxation.
In the course of the workshop, the FTA emphasised the significance for entities topic to Company Tax – who haven’t but registered – to promptly submit their registration functions in an effort to profit from the esteemed Cupboard resolution concerning the initiative to exempt Company Tax payers and sure classes of exempt individuals, who’re required to register with the FTA, from administrative penalties ensuing from late submission of registration functions past the legally prescribed deadline.
The FTA clarified that entities topic to Company Tax (or exempt individuals required to register) who’ve accomplished their tax registration to profit from the exemption initiative should submit their tax returns (or annual declarations) inside a interval not exceeding seven months from the tip date of the registrant’s first tax interval, in an effort to meet the exemption circumstances from penalties in accordance with the choice.
The FTA indicated that the distinctive situation for benefitting from the exemption – specifically, submitting the tax return (or annual declaration) inside a interval not exceeding seven months from the tip date of the tax interval – applies solely to the primary tax interval of the entity topic to tax (or the exempt particular person required to register), no matter whether or not the due date for the primary tax return (or first annual declaration) falls earlier than or after the efficient date of the brand new resolution.
The FTA affirmed its dedication to the continual enhancement of providers supplied to help and help enterprise sectors, in step with its plans to determine a tax surroundings that encourages compliance. That is achieved via ongoing consciousness initiatives focusing on all classes of taxpayers, aimed toward familiarising them with tax laws and procedures utilizing varied strategies that guarantee the knowledge is evident and simple to use.
The FTA famous that its representatives responded to members’ enquiries in the course of the workshop in RAK, which was attended by roughly 440 stakeholders concerned within the implementation of Company Tax, together with a number of officers from related entities in each the private and non-private sectors.
In the course of the workshop, representatives of the FTA supplied a complete rationalization of the Company Tax Regulation and its associated choices, the necessities for compliance with the regulation, the registration procedures by way of the “EmaraTax” digital tax providers platform, the standards for figuring out taxable individuals, clarification of the relevant charges and tax durations, in addition to the mechanism for implementing the provisions set out within the Company Tax Regulation.
The FTA’s representatives burdened the significance for taxable individuals to familiarise themselves with the Company Tax Regulation, the implementing choices, and the related tips, all of which can be found on the FTA’s official web site by way of the next hyperlink: https://tax.gov.ae/ar/default.aspx.