In a significant stride towards facilitating business operations in the UAE, Synergy Gulf has launched a comprehensive VAT and corporate tax registration service. This initiative is offering businesses unparalleled ease and efficiency in navigating the intricacies of taxation laws in the UAE.
All entities subject to taxation in the United Arab Emirates (UAE) are required to register for UAE Corporate Tax (CT) and acquire a CT Registration Number. Recently, the Federal Tax Authority (FTA) issued Decision No. 3 of 2024, outlining the schedule for Corporate Tax (CT) registration by taxable entities. This decision will come into effect on March 1, 2024.
The deadline for submitting a registration application depends on the date of issuance of the business license. The earliest deadline is May 31, 2024, with the possibility of an extension based on the issuance date of the license. It is advisable to promptly verify the CT registration deadline and submit the application within the specified timeframe to avoid an administrative penalty of AED 10,000.
The VAT and corporate tax registration service offered by Synergy Gulf embodies the company's commitment to delivering comprehensive, client-centric solutions tailored to the unique needs of businesses operating in the UAE. Leveraging its extensive expertise in taxation and regulatory compliance, Synergy Gulf offers a seamless registration process, guiding businesses through every step with precision and clarity.
Since the introduction of Value Added Tax (VAT) in the UAE in 2018, businesses operating within the region have grappled with the complexities of compliance. The intricate regulations surrounding VAT and corporate tax have presented significant challenges for companies, particularly small and medium enterprises (SMEs), often leading to confusion and compliance-related issues. Recognizing this pressing need for streamlined solutions, Synergy Gulf has stepped forward to address these challenges head-on.
Commenting on the launch of the service, Mr. Grant Kirk, COO of Synergy Gulf, expressed his enthusiasm for the positive impact it is expected to have on businesses across the UAE. "At Synergy Gulf, we are committed to empowering businesses with the tools and knowledge they need to thrive in today's dynamic landscape," said Mr. Kirk. "Our VAT and corporate tax registration service reflects our dedication to excellence and our unwavering commitment to delivering value to our clients."