The United Arab Emirates (UAE) has published Cabinet Decision No. (49) of 2021, which amends Cabinet Decision No. (40) of 2017 on Administrative Penalties for Violations of Tax Law in the UAE. The amendments have come in effect since 28 June 2021.After the amendments, VAT penalties and fines in UAE have been reduced substantially as compared to the previous legislation.
This guide compares the penalties that were applicable previously and the new penalties.
A thorough comparison of VAT Penalties and Fines in UAE, before and after Cabinet Decision No. (49) is presented along with the implications of the amendments to VAT Penalties and Fines in UAE.
These amendments marks a significant shift in VAT penalties and fines in UAE, now aiming to foster a more supportive environment for businesses. With such a reduction in penalties across various violations, the UAE tax authority seeks to encourage compliance and promote a culture of voluntary disclosure and accurate record-keeping. Explore the subject thoroughly with our comprehensive guide:
Guide on Economic Substance Regulations (ESR) Audit Intimation
The Complete Guide on Corporate Tax Refund
Guide on Treatment of Unrealized Gains and Losses Under UAE Corporate Tax
Guide on UAE Corporate Tax Group
Guide to Non-Resident Person’s Nexus in UAE (CT purposes)
Comprehensive Guide on Corporate Tax Registration on EmaraTax
Federal Tax Authority of the UAE manages the EmaraTax Platform, which provides several useful digital services to businesses in the UAE, such as:
- Handling Tax Registration
- Filing of Returns
- Payment of Taxes
- Applying for tax refunds under the UAE CT Law regime
Considering the cruciality of the platform, we have come up with this comprehensive guide on Corporate Tax Registration on EmaraTax.
The guide provides you with the information regarding:
- Who should register for Corporate Tax?
- Timeline for Corporate Tax Registration
- Documents Required for Corporate Tax Registration on EmaraTax
- Steps for Corporate Tax Registration on EmaraTax
- Mistakes to Avoid During UAE Corporate Tax Registration on EmaraTax
- Post-Registration Responsibilities and Compliance
- Penalties for Non-Compliance
The UAE government has introduced the Corporate Tax (CT) and positioned the country as a business and investment hub. It demonstrates the UAE authorities’ commitment to bringing transparency into business dealings. The introduction of corporate tax in the UAE will boost the economy and attract foreign direct investment.
To have a comprehensive understanding of Corporate Tax Registration on EmaraTaX, we invite you to go through this detailed guide and empower yourself by advancing your expertise.