"Federal Taxes" It calls on those who are subject to the non -registered corporate tax to benefit from the initiative to exempt from the fine for the registration

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Abu Dhabi, June 17/ WAM/ The Federal Tax Authority renewed its invitation to those who are not registered in companies to accelerate the submission of registration requests for corporate tax, allowing them to benefit from the cabinet decision regarding the initiative to exempt those who are subject to corporate tax and some categories of exempted persons demanding registration with the authority from the administrative fines resulting from delay in submitting registration requests during the legal period Specified.

This came during a new workshop held by the authority in Abu Dhabi, with the participation of about 940 representatives of the business and concerned sectors, to continue to introduce the rules for identifying income subject to corporate tax, as part of its continuous campaign to raise awareness of the corporate tax and its importance, and to clarify the requirements and procedures for compliance with the corporate tax law by organizing a series of urban workshops in all the emirates of the state, in addition to organizing awareness -raising activities with visual communication technology remote.

The authority confirmed in a press release today, that those who are subject to the corporate tax “or the exempted persons demanding the registration” who registered the tax to benefit from the exemption initiative must submit their tax decisions “or their annual statements” within a period not exceeding seven months from the end of the end of the first tax period of the registrar, in order to apply to the registrar the condition of exemption from the fine according to For the decision.

She explained that the exceptional condition to benefit from the exemption by submitting the tax declaration “or annual permit” within a period not exceeding 7 months from the date of the end of the tax period; It is only applied to the first tax period of the tax subject “or the recovered demand”, whether the date of the first tax declaration “or the first annual declaration” previously to start the application of the new decision or after the start of the application of the decision.

During the workshop, which was attended by a number of officials of the Federal Tax Authority, and representatives of the concerned authorities in the Emirate of Abu Dhabi, the commission experts gave a comprehensive explanation to the participants on how to determine the income subject to corporate tax and calculation, calculate the due tax, and accounting standards specified for the purposes of corporate tax, and the financial lists specified in accordance with accounting standards Applied by the corporate tax, the foundations of the accounting entitlement according to which the tax is subject to recognition of income when it is acquired and expenses when they are incurred, and the definition of financial assets, financial obligations, and the method of accountability for property rights according to its definition in international standards for the preparation of financial reports, and the method of accountability according to the accounting standards applied from the subject. For tax, the accounting cost method.

Experts reviewed the registration procedures via the “TAX” platform for digital tax services, the criteria for identifying tax subjects, clarifying the applicable proportions and tax periods, the mechanism for applying the provisions contained in the corporate tax law and the decisions related to it, and the requirements for compliance with the law, and the inquiries of the participants in the workshop were answered.

The authority explained that the current stage of the continuous campaign since 2023 in all emirates of the state deals with various tax issues specialized to introduce the legislation, requirements and procedures for compliance with corporate tax, through conscience and directed awareness programs to suit each of the basic categories concerned, depending on the latest technologies used in this field to ensure the easy access of information to those subject to tax.

She pointed out that the campaign to raise awareness of corporate tax was launched within the framework of the integrated strategy that the authority adopted to ensure the smooth compliance with corporate tax by supporting and supporting the tax subject to fulfill their tax obligations and enabling them to voluntary compliance, in light of the health and legislative environment that was sent in accordance with best practices.