Amendment in Corporate Tax Period in UAE

To change the corporate tax period in the UAE, you need to follow certain procedures and meet specific requirements. Here are the steps you can take:

1. Understand the requirements: Familiarize yourself with the Corporate Tax Law in the UAE and the obligations it imposes on businesses. This includes knowing whether your business needs to register for UAE Corporate Tax (CT).

2. Valid reason: Determine if you have a valid reason to change the tax period. According to the UAE Federal Tax Authority (FTA), a change in the tax period is possible, but it should be for a valid reason.

3. Application to the FTA: If you have a valid reason, you can make an application to the FTA to change the start and end date of your tax period. The FTA will review your application and make a decision based on the conditions set out in their guidelines.

What are the conditions for changing the tax period for corporate tax in UAE?

Based on the search results, here are the conditions for changing the tax period for corporate tax in UAE:

The change should be for a valid reason

1. The taxable person must not have filed the tax return with the FTA for which they are requesting a change in the tax period.

2. The application for change in tax period must be made no later than 6 months after the end of the original tax period.

3. The application should be made before the lapse of 6 months from the end of the original tax period.

4. The taxable person can either extend the current tax period to a maximum of 18 months or shorten the following tax period to a minimum of 6 months and a maximum of 12 months.

5. The change in tax period should be for aligning the Taxable Person’s Financial Year either for tax grouping, financial reporting, or domestic and foreign tax relief purposes.

6. The change in tax period should be in compliance with the UAE Corporate Tax Law and its regulations.

It is important to note that the Federal Tax Authority (FTA) will review the application and make a decision based on the conditions set out in their guidelines.

Contact us now to know more about Corporate Tax services in UAE. Our team is consist of experienced professional in the fields of Accounting, Bookkeeping, Taxation, Auditing and Compliance.

For more detailed information and guidance on changing the corporate tax period in the UAE, it is recommended to consult with Flying Colour Tax Consultant LLC or refer to official government sources such as the UAE Ministry of Finance or the Federal Tax Authority.