UAE Corporate Tax update FTA publishes decision No 6 of 2023 on the Tax Deregistration Timeline for purposes of Corporate Tax.
By Alia Noor, FCMA, CIMA, MBA, Oxford fintech programme, GCC VAT Comp Dip,COSO Framework.
Associate Partner Ahmad Alagbari Chartered Accountants, UAE
The Federal Tax Authority (FTA) of the United Arab Emirates (UAE) published FTA Decision No. 6 of 2023 (Decision) on the timelines for Tax Deregistration under the UAE CT Law.
This Decision shall be published in the Official Gazette and shall come into effect as of 1 June 2023
This Decision highlights that an application for Tax Deregistration shall be filed in accordance with the following timelines:
1-The natural Person shall file a Tax Deregistration application within 3 months of the date of cessation of the Business or Business Activity.
2.The juridical Person shall file a Tax Deregistration application within 3 months of the date the entity ceases to exist, cessation of the Business, dissolution, liquidation or otherwise.
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