EMARA TAX in UAE
EmaraTax, an integrated tax platform, is soon planned to be launched by the UAE Federal Tax Authority. It will enhance the experience of the taxpayers to access the services offered by the tax authority and enables earlier engagement with them when in need of support. EmaraTax will provide a series of essential features such as Offering online access to a larger number of FTA services, Simplified user experience & extensive self-help and service request options. The taxpayer entities will require to migrate from the present FTA portal to the EmaraTax platform after its launch.
Legal representatives, Individual taxpayers, Diplomats, Tax agents, Foreign missions, Verification agencies, and Customs bodies will all benefit from the series of new evolutions that EmaraTax introduces.
UAE is supporting and promoting the digitalization agenda to strengthen rising technologies and build a solid digital infrastructure serving the business community & people in the country. The Emara tax integrates with national technology-based programs alongside UAE PASS and significant government entities like UAE Central Bank to streamline the user experience.
EmaraTax is easy to navigate & automatic. When you need assistance, it will offer enhanced self-help options and will soon be available on mobile phones.
Businesses need to have a clear understanding of the features of the EmaraTax platform, as all the services currently provided by the FTA will be accessible only through it.
What is the Aim of the EmaraTax Platform?
The Federal Tax Authority aims EmaraTax to be a supreme & digitalized tax platform, honoring the nation’s digitalization agenda,
The core aim of EmaraTax is to encourage taxable persons to ensure tax compliance in the UAE more effectively. With this platform, FTA assures taxpayers faster decision-making, efficient tax administration, and earlier engagement when in support.
When Will FTA launch EmaraTax?
The Federal Tax Authority of UAE is likely to launch EmaraTax in November 2022. The FTA will inform the emiratax will be live from December 5 2022
What do Taxpayers need to do?
Taxpayers must be up-to-date by regularly checking their registered email accounts for any instruction shared by the FTA concerning the EmaraTax. If the taxpayer is an existing registrant, their account will automatically migrate to the new system, and they do not need to sign up again. Taxpayers with no FTA account should create a new one with the EmaraTax.
How to Create an EmaraTax account?
The details of taxpayers already having an FTA account will be migrated to the EmaraTax. However, they will require to reset their passwords while logging into the platform for the first time,
These taxpayers who can log in to their FTA accounts and access their registered email account will obtain an email containing detailed instructions to direct them through the password reset process.
The taxpayers who can log in to their existing FTA account but cannot access their registered email accounts can reset their password with a different process which FTA will update soon.
People who do not have an FTA account can easily create a new one on EmaraTax. The taxpayers can easily access the necessary FTA online services once they have an EmaraTax account.
How to Submit Tax Returns using EmaraTax?
According to FTA, taxpayers should make payments due and submit tax returns as usual. If there are any essential updates on tax returns, FTA will convey them through its social media channels or email. For more information, confer with the Tax consultants as they can provide detailed knowledge if there is any significant development about tax returns or tax payments.
GIBAN Payments
While making tax payments using GIBAN, taxpayers should include the unique reference number. The unique number will ensure the tax payment is assigned accurately to selected liabilities. Also, EmaraTax is integrated into the UAE banks and other financial organizations so that this number validates the GIBAN and the amount payable to confirm that the correct sums allocate properly;
MagnatiPay to Make Online Payments
To make online tax payments, use the MagnatiPay platform, and the Federal Tax Authority is not accepting e-Dirham as a payment method.
MagnatiPay accepts payments made using any Visa or Mastercard prepaid, debit, or credit card.
Once the EmaraTax launch, there can be chaos, and Taxpayers will need the best Tax consultants to guide them in their Tax related queries. RVG Accounting & Bookkeeping LLC will advise you with all your doubts. RVG can be your tax consultant that you can rely on, and we can help you migrate into the new FTA’s EmaraTax platform effortlessly.
