As per the UAE Corporate Tax Law, all taxable business entities in the region must register with the FTA (Federal Tax Authority). Now the question arises: What course of action is needed when a business establishment shuts down, alters structure, or is no longer qualified for being taxed?
This is precisely where Corporate Tax Deregistration comes into play. The process includes smart planning, submitting the final return, establishing liabilities, and ensuring complete compliance with the FTA’s regulation to avoid paying penalties in the future.
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To understand Corporate Tax Deregistration in UAE, it is important to know about what UAE Corporate Tax is. It is a form of direct that is levied on the net income/profit of business entities. Here is a detailed look at the Corporate Tax in UAE and who they are imposed on:
Now, let us understand what Corporate Tax Deregistration means. It is the process of official removal of a business entity from the Corporate Tax registry of the Federal Tax Authority of UAE. It legally ends the tax obligation of a business and puts a stop to any more filing or fines from being imposed on the business post its closure or restructuring.
At Xpert Tax. we un-complicate the process of Corporate Tax Deregistration in UAE and make it seamless and convenient. Thanks to our highly-experienced team of professionals who know the ins and outs of the UAE Corporate Tax regime, we ensure smooth closure of your business without any loose ends.
Corporate Tax Deregistration in UAE applies to the following entities:
Business entities may need to officially deregister from UAE Corporate Tax for numerous reasons, such as:
Any company that ceases their operations due to any reason, such as insolvency, bankruptcy, etc., are mandated to apply for Corporate Tax Deregistration.
If a business entity goes through a merger, conversion, or even an acquisition that changes its entity type, Corporate Tax Deregistration becomes necessary,
When a business entity is sold off or its ownership gets transferred, the new possessor takes charge of the Tax Registration responsibility, whereas the ex-owner is mandated to deregister.
Any business entity that did not in the past register for UAE Corporate Tax but is going through liquidation is mandated to register, officially file Corporate Tax returns, and then re-apply for Corporate Tax Deregistration in order to stay compliant.
The entire process of Corporate Tax Deregistration in UAE is done through the EmaraTax portal of the FTA. Although the steps of the process can vary depending on the situation of a business, the general list of steps includes:
Navigate to the EmaraTax portal and log in to the account of your company.
Open the “Corporate Tax” section and click on the Deregistration application.
Fill up all the boxes with the required details, such as the reason for opting for deregistration, effective cessation date, etc.
Submit all the requested documents, including:
Make sure that the final tax return is properly submitted from your end and every outstanding tax and penalty is paid.
Assess each detail properly and then submit the completed application for review by the Federal Tax Authority.
The Federal Tax Authority will go through the submitted application. If it gets approved, they will issue an official Deregistration Certificate. This will be proof of your UAE Corporate Tax registration’s official cancellation.
The timing of filing for Corporate Tax Deregistration is very important, primarily because it helps in avoiding penalties. The FTA requires submission of the application of deregistration within a particular timeframe. Here is a detailed look:
The official application for deregistration must necessarily be filed within a period of three months or 90 days of the exact date the establishment stops existing, or from the cessation date of the entity’s dissolution or liquidation.
The official application for deregistration needs to be formally filed within a period of three months or 90 days of the business’ cessation date.
By officially deregistration from Corporate Tax in UAE, businesses:
Deregistering officially abolishes all requirements for the submission of Corporate Tax filings in the future.
Undergoing the process leads to the prevention of penalty accumulations as well as of other fees, even if zero tax is due.
It keeps the record of the company clean with the Federal Tax Authority for any form of legal requirement or future venture.
Deregistration is a major step in the process of company liquidation or restructuring.
Let Xpert Tax be your guide in the complex process of Corporate Tax Deregistration in UAE.Our experienced team of dedicated professionals will help you navigate every step in a quick, efficient, and hassle-free manner. So, connect with us today to secure your mental peace knowing every aspect of your deregistration is being handled efficiently by renowned experts!
Our team of qualified and highly-experienced accounts and professional tax advisors offer top-tier guidance to ensure your business’ requirements are met and the entire process of Corporate Tax Deregistration in UAE goes seamlessly. Here are the ways in which we aid you:
Our team thoroughly assesses the eligibility of your business for Corporate Tax Deregistration and offers guidance on the best path forward.
We assist you in accumulating and preparing every necessary document needed for the deregistration application.
Our professionals handle each step of the complete application process with finesse on your behalf, right from submitting the final tax return, all the way to finishing the Deregistration request on the FTA’s EmaraTax portal. We assume the role of a liaison with the FTA and respond to any doubt to ensure a seamless process of approval.
Our dedicated team helps you remain ahead of all deadlines to avoid penalties by giving timely reminders paired with expert guidance.
The entire process of Corporate Tax Deregistration in UAE needs to be done using the EmaraTax portal.
Yes. If any company registered under UAECorporate Tax decides to stop their operations or change their structure, they are bound to deregister themselves.
Individuals are required to apply for deregistration in UAE within 3 months (90 days) from the date their business entity ceases to exist, or from the cessation date of the entity’s dissolution or liquidation.
Post approval of the deregistration application, the Federal Tax Authority will officially deregister the business entity, effective officially from the business’ cessation date or from another date that the FTA determines.
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