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Initiative for the Waiver of Penalties for Late Corporate Tax Registration

Issued by: Federal Tax Authority (FTA), United Arab Emirates Purpose of the Initiative To support the UAE business sector by offering relief from administrative penalties. Encourages timely compliance with Corporate Tax registration and filing obligations. Waiver Conditions Taxable persons must submit their Corporate Tax registration application within 7 months from the end of their first tax period. Exempt persons must submit their annual declaration within 7 months from the end of their first financial year. Who Is Eligible? Businesses required to register for Corporate Tax but have not yet submitted their registration application. Businesses that incurred a penalty due to late registration submission. How to Apply Submit the required registration application and tax return (or annual declaration for exempt entities) via the EmaraTax platform. Ensure submissions are made within the timelines specified to qualify for the waiver. For more details, please call us or visit https://thefirst-check.com/

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Top Statutory Audit Firm and Compliance Auditing in Dubai

The First Check Consultants is a top statutory audit firm in Dubai which offers the tailored audit solutions to the businesses for optimizing tax planning, improving operational efficiency and driving sustainable growth to the business. So, choose the first check consultants to navigate the regulatory challenges while focusing on the long term success of your business in Dubai.

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Understanding Business Activities in UAE

The First Check Consultants offers business setup services and consultants in UAE which helps the entrepreneurs in company formation, licensing and regulatory compliance with the market insights to grow your business and success in UAE’s competitive environment.

Important Update on BEPS Pillar Two Legislation in the UAE

The United Arab Emirates (UAE) has introduced Cabinet Decision No. 142 of 2024, implementing the Domestic Minimum Top-up Tax (DMTT) in alignment with the OECD’s Base Erosion and Profit Shifting (BEPS) Pillar Two framework. This ensures that large multinational enterprises (MNEs) operating in the UAE are subject to a minimum effective tax rate of 15% on locally earned profits.

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