Tax Registration

Flawless Corporate Tax Registration with First Step

Tax returns are something that you cannot take lightly. They must file the returns 9 months prior to the tax filing closure. However, you must have the needed documents and should carry out the procedures for corporate tax registration.

FTA norms dictate that every taxable person in the UAE must undergo Corporate Tax Registration and acquire a Tax Registration Number (TRN). Individuals earning more than AED 375,000 must pay a corporate tax of 9%. On the other hand, individuals earning up to AED 375,000 need to pay no taxes. People falling under the taxable slab need to pay their fair share after they complete their Corporate Tax Registration.

The UAE Corporation remains compliant with the UAE's role as a member of the OECD inclusive framework. Post the implementation of the Corporate Tax, the most asked questions were related to the Corporate Tax Registration.

UAE has been a prominent member of the Organization for Economic Co-operation and Development (OECD) since 2010. It declared its commitment to international cooperation when it joined the Inclusive Framework on Base Erosion and Profit Shifting(BEPS) in 2016.

As a member of the inclusive framework, UAE's commitment enforces it to implement BEPS measures and ensures that esteemed MNEs pay their fair share of taxes. The corporate tax in the UAE may vary from 0% to 55%, depending on the income slab. 

In 2023, the UAE implemented the federal Corporate Tax as a signatory member of the OECD's inclusive framework.

We wish to make things more efficient for our valued clients by offering them the needed assistance in UAE Tax Registration. We have a detailed understanding of the norms, enabling us to facilitate our valued clients with result-driven support. Going for tax registration with us offers an individual or enterprise the needed ease and stress-free experience that enables them to direct their time and resources toward their strategic goals.

Foremost Regulations of UAE Tax Registration

There are no exceptions made between individuals falling into the taxable slab, both residents and expats. There are no unevenness or complexities in the corporate tax regime of the UAE. It is relatively simple and to the point, offering more convenience to people. Enterprises and individuals must remain aware relating to the different rates they need to pay for their income. Additionally, the strict and straightforward paradigm of the UAE's taxation offers certain relief and exemptions on certain conditions.

Enterprises and individuals carrying out their professional responsibilities in UAE must submit the required documents meticulously. The following are the documents you must submit for a streamlined UAE tax registration:-

  • A copy of the trade license, which is valid and unexpired.
  • Passport copy of the owner/partner holding the license.
  • Valid Emirates ID of the owner/partner holding the license.
  • A Memorandum of Association (MOA) or a Power of Attorney (POA) is imperative.
  • The concerned individual must submit contract details, including their mobile number and email address.
  • Complete contact details of the esteemed enterprise, which includes the full address and P.O. Box.

One must go for UAE tax registration to avoid penalties and conflicts of interest with regulatory bodies. These delays lead to interests that proliferate, putting strain on your finances. Individuals and enterprises also face major difficulties in obtaining government benefits. Moreover, they face operational inefficiency and reputational damage due to their lack of consideration. Hence, it is sensible to carry out your UAE tax registration on the defined timeline. 

Benefits of Corporate Tax Registration UAE

The following are a plethora of enriching rewards one may receive with their corporate tax registration UAE:-

  • Regulatory Compliance: Regulatory compliance is an imperative that allows you to function without additional trouble or hindrance. It enables you to keep your operational efficiency at its optimal capacity. Additionally, you safeguard your finances from the imposition of penalties and expenses on legal issues as the counter effect of non-regulatory compliance. 

  • Improved Credibility: As an enterprise or individual, your reputation and credibility are enhanced with the Corporate Tax Registration in Dubai. It demonstrates your commitment to adherence to local laws and regulations, fostering increased trust and better opportunities. It enables you to fulfill the underlying purpose. 

  • Government Contract Eligibility: Several lucrative and profit-yielding government contracts and tenders are open for enterprises. Most of them are available to people and enterprises registered for corporate tax. Thus, you increase the likelihood of getting aspired financial outcomes with the corporate tax registration. 

  • Ease of Financial and Banking Transactions: Many financial institutions prefer registered businesses when they need to provide their services. With the same, one receives the ease of opening bank accounts, getting loans, and conducting international business transactions, making it easier and much more efficient to conduct corporate activities globally and locally.

Business Strategy Planning: Corporate tax registration can be a reliable step for an enterprise to implement market maneuvers. It is a futuristic step that benefits a company or an individual in the coming time. You can remodel your company's finances, plan to implement your growth strategies and adapt to regulatory changes effectively. With the same, you will have an unparalleled experience of working and business.

Why Trust the First Step for Your UAE Corporate Tax Registration?

We at First Step have a team of experienced tax consulting individuals in Dubai who have the caliber to offer you the needed support you with the UAE Corporate Tax Registration. We will make sure that your Corporate Tax affairs are handled using best practices. We carry out your work using best practices, leading to results in a relatively shorter time consumption.

We understand the value of corporate taxes on business and integrate the same to offer you the needed compliance with the regulations and offer clarity and certainty that makes things more efficient for you in the United Arab Emirates. We draft a CT that safeguards the interests of our valued clients, encourages entrepreneurship, and flourishes the economy.

The new UAE Corporate Tax will also allow us to create a better playing field for businesses in the UAE. Additionally, it will provide greater protection for investors and businesses. The general speculation is that the law will likely be able to encourage entrepreneurship and scale up the economy.

If you require an extensive support with corporate tax registration in Dubai, there is an option to engage the expertise of corporate tax consultants like First Step. Our team has the needed apprehensiveness to deliver comprehensive assistance throughout the touchpoint of corporate tax registration in the UAE. You can rely on our proficient services to ensure a smooth and successful registration experience.

Additionally, we offer our services to our valued customers at a reasonable price without compromising with the efficacy and quality, enabling us to gain the trust of a vast consumer base. So, connect with us at the earliest to receive an immediate response.

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