As you are aware, the Federal Tax Authority of the UAE will launch a new online platform called EmaraTax, which will enhance the way taxpayers can access the different services the FTA provides. The launch of EmaraTax will require taxpayers to migrate from the existing online platform.
With the new platform, all other institutions and authorities, such as the Central Bank of the UAE, Customs, etc., will be integrated, thereby streamlining services and improving the taxpayer's experience.
With the new emaratax platform, taxpayers are able to effectively ensure tax compliance, including vat registrations, return filings and payments. In addition, the refund procedure has been streamlined and made more efficient. In the new EmaraTax platform, various alerts will be provided regarding pending actions, such as tax returns that need to be submitted, payments that are outstanding, etc.
The registration process on the new platform is more organized and sophisticated. A number of customized options were 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. 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.
After deregistering, the EmaraTax Platform enables businesses to reactivate their registration number once they reach the registration threshold limit. As for the filing of returns, the new platform provides more robust functionality that will enable taxpayers to complete the returns filing process smoothly and error-free.
The payment system is another major highlight. In order to make any payment to the FTA, the taxpayer must generate a unique number in order to identify which amount the payment should be applied to. This will ensure that the amount is properly settled against the correct TRN. Additionally, the taxpayer can make advance payments to the FTA towards VAT returns that have yet to be submitted without the amount being adjusted against the outstanding liability.
Besides the above-highlighted changes, EmaraTax is also equipped with a number of additional features that will improve tax compliance for both individuals and businesses.
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. Particularly, it comes with an improved user experience that allows seamless transaction management. All the new features come along with enhanced security levels that ensure the details of taxpayers remain highly secure throughout the process.
The new platform will be launched soon.
Manager - Taxation