The Federal Tax Authority (FTA) of the United Arab Emirates has issued a crucial directive for all tax registrants: update your tax records before March 2025 to avoid penalties and ensure compliance with the latest regulations.
At The Alchamii, we help businesses navigate UAE tax laws seamlessly. Whether you’re registered under Corporate Tax, VAT, or Excise Tax, keeping your records current is essential to avoid fines and operational setbacks.
Why This Update Matters for Your Business
The UAE has implemented Corporate Tax, VAT, and Excise Tax regulations to align with global financial standards. Ensuring compliance is key to:
✔ Avoiding fines and penalties from the FTA
✔ Securing government contracts with updated ICV certification
✔ Ensuring smooth tax filings and refunds
✔ Protecting your business from audits and legal issues
Delaying this update could lead to financial and legal consequences—so it’s time to act now!
Who Needs to Update Their Tax Records?
This applies to all tax registrants, including:
✅ Corporations and SMEs subject to UAE Corporate Tax
✅ VAT-registered businesses filing periodic returns
✅ Freelancers and consultants registered for tax purposes
✅ Importers, exporters, and manufacturers in regulated industries
If your business falls into these categories, updating your tax records is mandatory before March 2025.
How to Update Your Tax Records with The Alchamii
At The Alchamii, we simplify the compliance process for businesses. Here’s what you need to do:
1. Review Your Tax Registration Details
Ensure all business information with the FTA (Federal Tax Authority) is accurate, including your trade license, contact details, and financial records.
2. Validate Financial Transactions
We help businesses audit their invoices, financial statements, and tax filings to identify and correct any discrepancies.
3. Ensure VAT and Corporate Tax Compliance
- Verify that VAT returns are filed on time and that VAT invoices are properly documented.
- If you’re subject to Corporate Tax, ensure accurate reporting of taxable profits and deductions.
4. Check ICV (In-Country Value) Certification
If your business requires ICV Certification, keeping tax records updated will enhance your eligibility for government contracts.
5. Submit Updates Before the Deadline
With The Alchamii, you can confidently update your records and submit them before the March 2025 deadline to stay compliant and avoid penalties.
What Happens If You Miss the Deadline?
Non-compliance can lead to:
❌ FTA penalties and financial losses
❌ Delays in VAT refunds or Corporate Tax filings
❌ Higher risk of audits and investigations
❌ Challenges in securing business contracts To avoid these risks, act now and ensure your records are up to date.
Why Choose The Alchamii?
At The Alchamii, we specialize in:
✅ Hassle-free tax compliance solutions
✅ VAT and Corporate Tax advisory
✅ ICV Certification assistance
✅ Ongoing support to keep your business compliant
With our expert guidance, you can stay ahead of tax regulations and focus on growing your business with confidence.
