UAE Tax Update
Emaratax To Go Live
On Dec 05, 2022
Author : Hedge Admin
Published on: 23 Nov 2022
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Emaratax To Go Live
In the UAE, the Federal Tax Authority (FTA) has earlier declared that the “EmaraTax” integrated platform would soon be made available. The new platform, according to the FTA, is a cutting-edge ecosystem for tax administration that collaborates with other significant government organisations like the UAE Central Bank and national technology-based programmes like UAE PASS to streamline user processes from logging in to assembling tax returns. Additionally, the FTA had suggested that shortly after the new platform (website) goes live, a mobile app for EmaraTax be released.
Now FTA has officially announced that the Emara Tax will go live on December 2022 and will be available for use from then onward.
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Please take note of the following crucial points:
All tax-related (VAT, Exercise, Corporate Tax) compliances, submissions, etc. following the launch of EmaraTax will only be made via the new website;
The FTA will automatically migrate the tax information/data of the current Tax Registrants into the new system. According to the FTA’s announcement, this migration will begin at the end of November 2022, and the new platform will be usable starting on December 5 of that same year;
You won’t need to register if you already have an account with the FTA because your information will be carried over immediately. The first time you log in to the new platform, you will need to change your password. The FTA will provide you a comprehensive set of instructions to walk you through this procedure;
- The FTA has proposed new enhancements to the way you will have to pay VAT (once EmaraTax is launched) as below:
a. EmaraTax is integrated with banks and other financial organisations in the UAE
b. When using GIBAN, you must always include the special reference number. This particular number makes sure that your payments are appropriately applied to the chosen liabilities. EmaraTax will include a thorough explanation of how a special reference number is created.
c. To ensure that the right amounts are assigned correctly, the GIBAN and the amount payable will be validated using the special reference number when a GIBAN payment is made.
Suggested Actions To Be Taken:
- Ensure that the registered email ID with the FTA portal remains accessible at all times. All notifications and instructions from FTA on EmaraTax will be shared on this email id;
- Ensure that the email ID registered with the FTA portal is always accessible. This email address will receive all notices and instructions from FTA regarding EmaraTax;
- Following the instructions provided by FTA to reset your password and access your portal, after you receive an official mail notification from FTA (on or before December 5, 2022) confirming that the EmaraTax is online, please do so. As a precaution, it is advised that you cross-verify the migrated data with your transaction history.
- To prevent interfering with the migration process, it is advised to refrain from submitting any requests, such as modifications, refund claims, etc., during the migration period, which runs from November 30, 2022, to December 4, 2022.
