The Ministry of Finance has announced Cabinet Decision No. 10 of 2024,
which modifies the list of infractions and administrative fines outlined in
Cabinet Decision No. 75 of 2023 regarding penalties for breaches related to the
enforcement of Federal Decree-Law No. 47 of 2022 concerning corporate and
business taxation. This new decision will be effective starting March 1, 2024.
Under this
decision, businesses failing to submit their applications for UAE Corporate Tax
registration within the specified timelines set by the Federal Tax Authority
will face an administrative penalty of AED10,000. The introduction of this
penalty aims to promote compliance with tax regulations, encouraging timely
registration for corporate tax. The penalty amount for late tax registration is
in line with penalties for delayed registration for excise tax and value-added
tax, ensuring consistency across tax-related penalties.
