The FTA (Federal Tax Authority) has made unprecedented announcements in the past few weeks. Most recently, the FTA announced its decision to launch the EmaraTax platform on 5th December 2022. The migration process will start on 30th November 2022, and the EmaraTax platform will be fully operational by 5th December 2022.
The migration to the EmaraTax platform will coincide with the National Day holiday and weeks before the regular tax return, submission, and payment dates. The main aim of timing the migration with these strategic days is to minimize inconvenience and disruption for taxpayers in the UAE.
EmaraTax is an innovative and resourceful platform that will enable taxpayers to access the FTA’s services quickly, file their tax returns, and obtain timely refunds. Moreover, the EmaraTax platform will facilitate the proper administration of taxes in the UAE. Additional benefits include efficient, practical, faster decision-making while managing relationships with current taxpayers (that require support).
The UAE is one of the most preferred destinations for investors and business setups. It is crucial to supplement such a busy and competitive environment with adequate digital infrastructure. Keeping these factors in mind, the UAE authorities announced the UAE Digital Government Strategy 2025. The digitalization process includes secure digital infrastructure by 2025 along with lightning-fast internet.
The proactive efforts in the direction of digitalization, along with the directives of his Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Dubai’s Ruler, to incorporate advanced technology will help the UAE build a robust financial ecosystem.
Not that the current digital infrastructure is not up to the mark, but these steps will take digitalization and economic progress to new heights. This enhanced digital infrastructure, aligned with EmaraTax, will benefit businesses, communities, and salaried professionals in the UAE.
Once the EmaraTax platform is up and running, taxpayers can use its enhanced, vast array of features to manage their tax responsibilities. Besides, the FTA will continue to improve the EmaraTax platform by introducing additional services plus newer and more exciting features. These changes will take place gradually, in phases. By March 2023, the FTA will complete the changes, including a resourceful EmaraTax app for mobile users.
The FTA is committed to ensuring that every taxpayer can learn more about EmaraTax’s noteworthy features.
The FTA firmly believes that the EmaraTax platform will make lives easier for taxpayers and streamline the process. However, it is only possible to realize these goals if people know about their benefits and various features. To facilitate easier understanding and optimal use of EmaraTax, the FTA will organize a detailed webinar in November 2022.
Where can taxpayers find information about the EmaraTax platform? The FTA has launched a new website where taxpayers can find details about the EmaraTax platform. This information includes educational videos, FAQs, and a registration form for the free webinar in November 2022. Note that taxpayers will receive the information directly to their email addresses.
For more information about the EmaraTax platform, please visit – https://bit.ly/3GirXiu.
How can NR Doshi and Partners help you?
Unlike other countries, businesses in the UAE are not subject to many taxes. There are a few taxes in the UAE, like VAT (Value Added Tax), excise tax, and tourist tax to name a few. Corporate tax is a recently announced tax that will come into effect by June 2023. Even though these are just a handful of taxes, companies must file them on time; otherwise, they may have to pay hefty penalties or face legal action.
NR Doshi and Partners has worked in the GCC region, especially the UAE, for over three decades. With hard work, perseverance, and dedication, we have gained vast experience and made valuable connections. Our team of experienced and knowledgeable professionals includes all kinds of tax experts. These experts have worked across diverse sectors like hospitality & tourism, real estate, finance, entertainment, technology, and many others.
Their diverse experience and industry know-how help us deal with complex problems. The UAE market is competitive, and you must stay focused. Managing client/customer expectations, staying informed about new trends, and developing new growth strategies can consume much time. In such a situation, it might be hard for your company to focus on tax filing, claiming refunds etc.
NR Doshi’s experts have a thorough knowledge of the UAE market. They have cordial relations with officers in various government bodies. These connections will help us complete formalities related to documentation, obtaining permits, and fulfilling legal obligations. We adopt a systematic and proactive approach toward taxation. First, we understand your business, industry type, and tax issues. Then, we develop bespoke solutions to address them.
Apart from offering you valuable advice for effective tax management and identifying ways to reduce your tax burden. Besides that, our experts can also help with filing tax returns & audited file statements, renewing trade permits & licenses, conducting audits, and more.
Our tax services package includes the following: