Corporate Tax Registrations
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    • Corporate Tax Registrations - 10 March 2024

    First session by Anurag Thakur, Anderson 

    1. Multiple Licences - in case company has multiple licences (industrial + commercial) then the earliest licence is important for deadline deciding 
    2. Natural Person needs to have income more than AED 1 million and registration up to 31 Mar of subsequent year 
    3. Non Residents, if income going above 1 million AED, then they have 3 months after threshold crossing 
    4. Month of incorporation is important as against date of incorporation 
    5. For VAT registered entities - some fields are auto filed.
    6. Trade licence needs to be updated before CT  - ​​
    7. Not possible to update the auto filled details 
    8. Trade Licence was updated long long back For many companies. 
      1. Sometimes, turnover validation is needed 
      2. Shareholder details have to be again validated 
    10. FTA has right now limited list of business activities for CT registration. Select business activity that is closest to our business. 
    11. Foreign owned UAE subsidiary - 
    12. Incorrect Legal Entity in FTA VAT. Else we have to first de register and then re-register and then do corporate tax. 
    13. Unincorporated PArtnerships - Real Estate that is owned jointly. TRN will inactive. Income will be taxable in hands of the partners. At the moment this option is not open. 
    14. Family Foundation - Foundation is a legal entity without share capital. It’s run by the contributors. 
    15. Branches incorrectly registered as legal persons in VAT portal so need to first correct the VAT portal. 
    16. Check the registration certificate of your clients. 


    Second session as Panel Discussion with Nirav Shah, FAME Advisory

    1. For foreign companies, there is no option to select the licence authority that issued holding company licence. So select the same authority that issued the licence for applicant. 
    2. IF there is branch of a foreign company, that is a resident juridical person. It’s not PE. 
    3. PE norms are applicable where transactions are not captured anywhere, transactions can be done without being incorpoaretd. UAE is a licence based regime so in most cases PE is not required. 
    4. For new incorporations, we have 6 months for CT registration. 
    5. Project Type work where foreign companies are working through UAE based partners and salaries are getting reimbursed then these foreign companies have to register in CT due to PE 
      1. When some business activity is carried out, then PE is there 
    7. POEM is more about control and management and not about doing business. POEM is triggered when its strategic and board meetings are happening in UAE 
    8. The onus is on applicant to determine their own applicability of tax 
    9. Liquidation or not, if the financial year has started then CT registration must happen. 
    10. Once liquidation happens all liabilities are ceased. 
    11. More than 25% owners must be selected And added in the CT registration. 
    12. In case any difficulty send email to FTA as that is very legal document that can be used later on. 
    13. Write in the note in the application of CT for foreign companies. 
    14. Feature of changing the entity legal type option will be enabled soon.