Don't Get Fined
Running a business in the UAE requires staying compliant with various regulations, and tax is no exception. The Federal Tax Authority (FTA) utilizes the EmaraTax Portal for all tax-related matters, and it’s crucial for businesses to maintain accurate and up-to-date information on this portal. At TFAB Accounting Services, we want to help you avoid unnecessary penalties and ensure a smooth tax filing experience.
Why Update Your EmaraTax Portal Information?
Think of the EmaraTax Portal as your digital tax headquarters. The FTA relies on the information you provide there to ensure proper tax administration. Keeping your information current allows for:
- Accurate Tax Assessments: The FTA uses your portal information to determine your tax obligations. Outdated details can lead to incorrect assessments.
- Efficient Communication: The FTA communicates important updates and notices through the portal. Ensure you receive them promptly by keeping your contact details current.
- Avoiding Penalties: Failing to update your information within 20 business days of any changes can result in administrative fines of AED 5,000 for the first offense and AED 10,000 for repeated offenses.
What Information Needs Updating?
Here’s a list of key details that require updating on the EmaraTax Portal whenever there’s a change:
- Business Fundamentals: Entity type, legal/trade name, trade license, ownership structure, MOA/AOA, business activities.
- Locations & Contact: Registered address, contact details (email & phone number) for the business and authorized signatory.
- People Involved: Emirates ID/Passport information for directors, partners, owners, and authorized signatories.
- Other Details: Bank account details and any other relevant information.
Maintaining Compliance: How We Can Help
Keeping track of these updates can be time-consuming, especially for busy businesses. Here’s where TFAB Accounting Services comes in! We can help you with:
- Regular Reviews: We can schedule periodic reviews of your EmaraTax Portal information to ensure it's current.
- Updating Information: We can assist you with updating the portal whenever changes occur.
- Expert Guidance: Our team of experienced professionals can answer your questions and provide guidance on navigating the EmaraTax Portal.
Don’t wait until it’s too late!
By proactively maintaining your EmaraTax Portal information, you can avoid penalties, ensure smooth tax filing, and focus on what matters most – running your business successfully. Contact TFAB Accounting Services today to discuss how we can help you achieve tax compliance in the UAE.