FTA Hosts Corporate Tax Awareness Workshop For Free Zone Persons In Ras Al Khaimah

The Federal Tax Authority (FTA) held a workshop in Ras Al Khaimah on Wednesday to raise awareness about Corporate Tax for Free Zone Persons.

This workshop, which marks an important step in the second phase of the FTA's nationwide Corporate Tax Awareness Campaign, aims to provide useful information on the UAE's Corporate Tax system and the tax responsibilities of Free Zone Persons.

During the workshop, attended by over 200 participants, the FTA said that Qualifying Free Zone Persons can enjoy a 0% Corporate Tax rate on their Qualifying Income under the UAE's Corporate Tax system, WAM reported.

However, all Free Zone Persons, whether they qualify or not, must still register for Corporate Tax. The 0% rate applies only to Qualifying Income, which has specific conditions set by the FTA. Income that doesn't meet these conditions will be taxed at the standard Corporate Tax rate of 9%.

The workshop provided a detailed explanation of the Corporate Tax system for Free Zone Persons, the criteria for qualifying for the 0% tax rate, and what qualifies as "Qualifying Income."

FTA emphasized its ongoing commitment to hosting these workshops regularly. These sessions are designed to help Free Zone Persons understand and comply with tax laws, while also supporting the successful implementation of the corporate tax system in the UAE.

The FTA highlighted the important role free zones play in supporting sustainable economic growth and innovation in the UAE.

Corporate Tax registration is available 24/7 on the "EmaraTax" platform, allowing users to complete it in just a few minutes. Taxable Persons can also get assistance from certified Tax Agents for Corporate Tax via the FTA's website.

In addition, the FTA has expanded the options for submitting registration applications through government service centers across the UAE.

Recognizing free zones as a key part of the UAE's economic diversification strategy, the FTA continues to launch awareness programs to support the growth of businesses in these zones and boost their impact on the national economy.

To help Free Zone Persons understand Corporate Tax laws, the FTA created a Corporate Tax Guide available on its website. The guide offers detailed information and practical examples to improve understanding.

FTA representatives covered several key topics during the workshop, including Qualifying Activities, Excluded Activities, and how to calculate tax liabilities for Free Zone Persons. They also explained the steps for meeting Corporate Tax obligations, such as registering and filing Corporate Tax Returns.

The FTA also clarified that resident juridical persons with licenses issued in October or November, no matter the year, must submit their registration applications by Nov. 30.