The UAE Federal Tax Authority is set to launch the UAE EmaraTax, coming into full effect in November 2022. EmaraTax is a digital integrated program, geared to be a single platform offering numerous services for taxpayers integrating major government bodies. EmaraTax’s platform will make it simpler and easier for taxpayers to access the Federal Tax Authority and for the Federal Tax Authority to monitor the taxpayers in the UAE.
What is the Purpose of the UAE EmaraTax?
The primary purpose of the EmaraTax platform is to consolidate accessibility to the Federal Tax Authority’s services: easy tax payments, collecting returns and guaranteeing legal compliance with tax laws. The new program significantly improves FTA’s capacity to exercise uniform management and governance of taxation in the emirates, as well as provide fast decision-making and a support framework for taxpayers.
EmaraTax will be integrated with all essential government authorities and agencies. With significant self-support and service order capabilities, the EmaraTax program will provide a simpler and optimized consumer experience. Verification agents, customs bodies, foreign embassies and diplomats, legal representatives, tax agents, tax groups, and individual taxpayers will all profit from the unique advancements that EmaraTax will provide.
Features of EmaraTax Revealed So Far
Following are a few features of the new EmaraTax in UAE;
- EmaraTax program is an advanced taxation management prospect that connects and integrates several important government agencies such as the Central Bank of UAE, Federal Tax Authority, and federal technological programs such as “UAE PASS” to make the most efficient application of a shared database, thus streamlining a variety of consumer activities ranging from logins to registrations and from tax return compilation to refunds.
- In contrast to the existing model, which depends on the manual choice of registration base, the platform will enable a variety of customizable choices, such as the applicant providing turnover statistics in the specified sector and the platform determining if registration is necessary or optional.
- The payment method will be undergoing significant adjustment in this new system. When completing a payment, a code number will be produced to indicate the amount to which the payout must be made. It would assure that the sum is duly resolved.
- Another significant feature is that the software would provide warnings for upcoming events, for instance, awaiting payments and tax returns.
- EmaraTax will be available for all taxpayers and other consumers in the UAE.
Who Has Launched EmaraTax Software?
The UAE Federal Tax Authority has developed and put forward the concept of EmaraTax in the UAE.
Learn More About Emaratax From Tax Experts in the UAE
Consult our Tax agent in UAE to learn more about how tax practices are going to change in the UAE and how the new system will affect businesses and individuals. We shall be happy to provide you with a comprehensive guide!