emirates7 - The Federal Tax Authority (FTA) has reiterated its appeal to Corporate Tax registrants who have yet to register, urging them to promptly submit their registration applications. By filing their initial Tax Returns for the relevant tax period via the “EmaraTax” digital tax services platform, they can take advantage of the Penalty Waiver Initiative for Late Corporate Tax Registration.
This initiative is applicable to Corporate Taxpayers as well as certain exempt persons who are obligated to register with the FTA.
According to a press release issued today, over 33,900 individuals and entities have benefited from the Penalty Waiver Initiative for Late Corporate Tax Registration so far.
The FTA stated that Thursday, 31st July, marks the final deadline for most Corporate Taxpayers—whose first Tax Period corresponds to the calendar year from 1 January to 31 December 2024—to qualify for this initiative. To be eligible, they must complete their registration and submit their Corporate Tax Returns through the “EmaraTax” platform by the end of July 2025.
The FTA also warned that failing to meet these requirements and complete the necessary steps by 31st July will disqualify taxpayers from the waiver and result in a AED 10,000 penalty for late registration for those not registered.
Furthermore, to avoid the late registration penalty, the taxable person (or exempt person required to register) must file their Corporate Tax Return (or annual declaration) within seven months after the end of their first Tax Period (or financial year), instead of the usual nine-month deadline. The FTA clarified that the Penalty Waiver Initiative only applies to the first Tax Period of the taxable person or exempt person required to register.
The FTA released a public clarification on the Waiver Initiative, accessible here: Waiver of Administrative Penalty for Failure to File Corporate Tax Registration within the Prescribed Period.
This clarification provides detailed conditions for qualifying for the waiver of the Late Registration Penalty, explains the refund process if a penalty has already been paid, and includes examples illustrating how to benefit from the initiative under different circumstances.
It also clarifies eligibility, covering those required to register for Corporate Tax, including certain exempt persons.
The FTA emphasized that if a person covered by this initiative files their Tax Return or annual declaration within seven months following the end of their first Tax Period or Financial Year, they will automatically be exempt from the Late Registration Penalty without needing to submit a reconsideration or waiver request.
If the late registration penalty has already been paid, the AED 10,000 will be automatically credited to the person’s “EmaraTax” Corporate Tax account, allowing it to be used to settle other tax liabilities or to request a refund by submitting an application to the FTA.
This initiative is applicable to Corporate Taxpayers as well as certain exempt persons who are obligated to register with the FTA.
According to a press release issued today, over 33,900 individuals and entities have benefited from the Penalty Waiver Initiative for Late Corporate Tax Registration so far.
The FTA stated that Thursday, 31st July, marks the final deadline for most Corporate Taxpayers—whose first Tax Period corresponds to the calendar year from 1 January to 31 December 2024—to qualify for this initiative. To be eligible, they must complete their registration and submit their Corporate Tax Returns through the “EmaraTax” platform by the end of July 2025.
The FTA also warned that failing to meet these requirements and complete the necessary steps by 31st July will disqualify taxpayers from the waiver and result in a AED 10,000 penalty for late registration for those not registered.
Furthermore, to avoid the late registration penalty, the taxable person (or exempt person required to register) must file their Corporate Tax Return (or annual declaration) within seven months after the end of their first Tax Period (or financial year), instead of the usual nine-month deadline. The FTA clarified that the Penalty Waiver Initiative only applies to the first Tax Period of the taxable person or exempt person required to register.
The FTA released a public clarification on the Waiver Initiative, accessible here: Waiver of Administrative Penalty for Failure to File Corporate Tax Registration within the Prescribed Period.
This clarification provides detailed conditions for qualifying for the waiver of the Late Registration Penalty, explains the refund process if a penalty has already been paid, and includes examples illustrating how to benefit from the initiative under different circumstances.
It also clarifies eligibility, covering those required to register for Corporate Tax, including certain exempt persons.
The FTA emphasized that if a person covered by this initiative files their Tax Return or annual declaration within seven months following the end of their first Tax Period or Financial Year, they will automatically be exempt from the Late Registration Penalty without needing to submit a reconsideration or waiver request.
If the late registration penalty has already been paid, the AED 10,000 will be automatically credited to the person’s “EmaraTax” Corporate Tax account, allowing it to be used to settle other tax liabilities or to request a refund by submitting an application to the FTA.