The UAE Federal Tax Authority to launch a New Integrated Platform, ‘EmaraTax’

April 14, 2023by admin0
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The UAE Federal Tax Authority to launch a New Integrated Platform, ‘EmaraTax’

The UAE’s Federal Tax Authority is all set to introduce its new EmaraTax platform and its benefits for taxpayers. EmaraTax has significantly enhanced the way that taxpayers can access the FTA’s services, pay their taxes and obtain refunds. The new platform also greatly enhances the ability of the FTA to administer taxes in the UAE, enables better, faster decision-making and earlier engagement with taxpayers than ever before.

How would EmaraTax help?

    • EmaraTax is a modern tax administration ecosystem that connects and integrates several important government agencies such as the Central Bank of UAE, Federal Tax Authority, UAE Pass to make the most efficient application of a shared database, thus streamlining a variety of consumer activities ranging from logins to registration and from tax return compilation to tax refunds.
    • Unified TRN’s – The registration process on the new platform is more organized and sophisticated. A number of customized options will be made available on the platform, including the option to select an individual taxpayer type, add a branch license, add a sole establishment license held by a legal entity, etc.
    • Determination of Mandatory or Voluntary Registration – The new platform requires the applicant to provide turnover information in a specific field, and the system will determine whether registration is mandatory or voluntary, in contrast to the current procedure, which requires the applicant to manually select the basis for registration.
    • Reference Numbers – EmaraTax allows taxpayer/agent’s to select the particular tax liability so when the payment is made against reference number, it will ensure that the allocation of the payment was based on the taxpayer/agent’s selection. This will reduce the instances of payments being made incorrectly into the wrong GIBAN.
    • Reactivation of TRN’s – Reactivation of TRN’s will now be possible considering the deregistration was done due to any of the following reasons: –
      – Business making taxable supplies & imports, but below the voluntary threshold
      – Business making taxable supplies & imports above the voluntary threshold but below the mandatory threshold.

How the businesses will be benefited from this new integrated EmaraTax platform?

With the new EmaraTax platform, taxpayers can effectively ensure tax compliance and streamline their refunds. The launch of EmaraTax is expected to bring in a new era of transparency and convenience for taxpayers. Part of this change is the introduction of an e-filing system that is more secure and efficient. This system makes it easier for taxpayers to submit their returns online, which in turn reduces the time spent on filing taxes.

Reach out for a consultation or to learn more about how tax practices are evolving and how these would impact businesses or individuals in the UAE:

info@vvouch.ae
058 9347093