With the launch of Corporate Tax in the UAE, FTA has intensified its efforts, in collaboration with the relevant authorities, to develop flexible and accurate mechanisms to implement the new regime based on the highest global standards, ensuring an environment that underpins business growth, attracts investments, and boosts the UAE economy.įTA had previously announced the opening of Corporate Tax registration for Public Joint Stock Companies, Private Shareholding Companies, and other private companies on, noting that registration for other taxable persons' segments will be available at a later stage. FTA encourages voluntary compliance with the Corporate Tax Law through flexible, efficient, and transparent policies and procedures," he added. "We understand that for some taxable persons, like micro and small businesses that may not be registered for VAT, Corporate Tax is a new regime, and they may need assistance and guidance to understand their obligations. The FTA Director General noted that Corporate Tax is a direct tax levied on the tax-adjusted net profit of corporations or other businesses. This awareness campaign marks the beginning of a new era of preparing the business community to implement and comply with the Corporate Tax Law to sustain confidence in the UAE's tax system and the FTA's tax administration in line with international best practices."Īlso Read | Will IMF Deal End Pakistan’s Economic Misery?. FTA Director General, Khalid Ali Al Bustani, said, "FTA has a central role and vested interest in ensuring that taxpayers and other parties understand their obligations under the Corporate Tax Law.
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