AED10,000 Penalty for Late Corporate Tax Registration

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tax icons, accounting, money — mohamed_hassan (CC0), Pixabay

The executive penalty’s worth is ready according to the late registration penalties imposed for Excise Tax and Worth Added Tax

The Ministry of Finance immediately introduced the issuance of Cupboard Choice No. 10 of 2024, amending the schedule of violations and administrative penalties of Cupboard Choice No. 75 of 2023 on the executive penalties for violations associated to the applying of Federal Decree-Regulation No. 47 of 2022 on the taxation of companies and companies. Cupboard Choice No.10 of 2024 will come into impact on March 1, 2024.

The Ministry said that an administrative penalty of AED10,000 for late registration of UAE Company Tax might be imposed on companies that don’t submit their Company Tax registration functions throughout the timelines specified by the Federal Tax Authority.

The penalty was launched to encourage taxpayers’ compliance with tax laws by registering for company tax in a well timed vogue. The penalty quantity for late tax registration is aligned with the penalty related to late registration for excise tax and worth added tax.

For extra particulars on the Company Tax Regulation, the authorized textual content, and related govt laws, please go to the Ministry of Finance’s web site through www.mof.gov.ae.