Corporate Tax Registration and Filing Deadlines in the UAE for 2024: Key Dates for Every Financial Year End
In 2024, businesses in the UAE must be vigilant about their Corporate Tax obligations, particularly regarding registration and filing deadlines. These deadlines vary depending on the financial year-end of your business. Failing to meet these deadlines can result in significant penalties and legal consequences. This blog will provide detailed information on the Corporate Tax Registration and Filing deadlines for different financial year-ends, the consequences of missing these deadlines, and how AMY Consulting can assist your business in staying compliant.
Corporate Tax Registration Deadlines in 2024
Corporate Tax Registration deadlines in the UAE depend on your business’s financial year-end. Here’s a breakdown of the key dates:
Financial Year Ending June 30, 2023
Corporate Tax Registration Deadline: December 31, 2023
Corporate Tax Filing Deadline: December 31, 2024
Financial Year Ending September 30, 2023
Corporate Tax Registration Deadline: March 31, 2024
Corporate Tax Filing Deadline: March 31, 2025
Financial Year Ending December 31, 2023
Corporate Tax Registration Deadline: June 30, 2024
Corporate Tax Filing Deadline: June 30, 2025
Financial Year Ending March 31, 2024
Corporate Tax Registration Deadline: September 30, 2024
Corporate Tax Filing Deadline: September 30, 2025
Consequences of Missing the Registration and Filing Deadlines
Failure to register or file within the specified deadlines can lead to severe consequences, including:
1.Late Registration Penalties
Businesses that fail to register by the deadline will face a penalty of AED 10,000 for the first offense. If the failure persists, subsequent offenses within 24 months may result in a fine of AED 20,000.
2.Late Filing Penalties
If a business fails to file its Corporate Tax Return by the deadline, a penalty of AED 1,000 will be imposed for the first month of delay. An additional AED 2,000 per month will be added for each subsequent month of delay, up to a maximum of AED 50,000.
3.Backdated Tax Payments and Interest
In addition to penalties, businesses may be required to pay any backdated Corporate Tax along with accrued interest. Interest on unpaid tax is calculated at a daily rate, which can significantly increase the total amount owed.
4.Legal Consequences
Persistent non-compliance can lead to further legal actions, including audits, asset seizures, and potentially the suspension of business operations. The Federal Tax Authority (FTA) has the authority to take stringent measures against businesses that fail to comply with Corporate Tax regulations.
5.Damage to Business Reputation
Non-compliance can harm your business’s reputation, making it difficult to attract investors, secure loans, or maintain relationships with clients and suppliers. The impact of a damaged reputation can be long-lasting and detrimental to business growth.
How AMY Consulting Can Help?
At AMY Consulting, we specialize in helping businesses navigate the complexities of Corporate Tax Registration and Filing in the UAE. Our expert team ensures that your business meets all deadlines, helping you avoid costly penalties and maintain a strong financial standing. Let us handle your Corporate Tax obligations so you can focus on what matters most—growing your business.
