Blog Details
The UAE Federal Tax Authority (FTA) has confirmed that it will launch the EmaraTax platform on December 5, 2022. EmaraTax is a pillar of the UAE's Digital Government Strategy 2025, which aims to leverage emerging technologies and create a digital infrastructure that benefits both the general public and the business sector. Launching EmaraTax is a significant step forward in the FTA's ambition to become a leading, digitalized tax authority. Taxpayers' access to FTA services, their ability to pay their taxes, and their ability to get refunds will all be considerably improved through EmaraTax. The new platform also significantly improves the FTA's capacity to manage tax administration in the UAE, enabling better, quicker decision-making and quicker involvement with taxpayers who want assistance.
Now, let’s have a look at the key features of the EmaraTax platform.
FTA will automatically register new members for VAT and issue a TRN if a member of a Tax Group who does not hold a TRN (i.e, joined the group directly with a TIN) leaves the Tax Group either through an amendment process or deregistration.
Taxpayers can now log in to the new EmaraTax platform using their registered email address or an Emirates ID that is connected to a UAE pass. Additionally, it permits two-factor authentication when necessary when logging into the account with an OTP.
The new platform enables the taxpayer to access all of his correspondence with the FTA in one place. Furthermore, this section of the website will provide access to all certificates granted by the FTA. All of the applications that you have submitted to the FTA can be tracked down in a new section called "My Reports."
From the action menu, individuals who deregistered because of taxable supplies below the mandatory or voluntary threshold can now reactivate their TRN.
It is now possible to download an Excel version of the VAT return, which can be uploaded into the portal, thereby reducing the chances of network errors when manually entering data.
If there are no pending obligations from the taxpayer, de-registration will be automatically approved after submission of the final VAT return with the effective date of deregistration approved by the FTA.
The enhanced security features that come with all the new features guarantee that the taxpayer's information is kept highly secure throughout every step.
You must quote GIBAN and Unique Reference Numbers (6 Digits) along with the exact payment amount; this enhancement will prevent payments against incorrect GIBAN.
To prevent any new fines, there is now an advance payment option you can use to pay for your next tax return. FTA will keep the money until the subsequent refund is submitted. Any extra funds will automatically be distributed to the oldest obligations after the payment has been assigned. Additionally, you have the choice to pay in advance to cover potential tax payments.
Conclusion
In a nutshell, the new system will offer a 360-degree perspective, guaranteeing a smooth connection with all eco-system players, automating administrative services, and linking up with other Core Taxpayer services, leading to effective operations and increased taxpayer satisfaction. As a result, FTA will be able to increase compliance and reduce risks. The new platform will be integrated with more organizations and agencies, including the Central Bank of the UAE, Customs, ICA, and others, to streamline services and enhance the experience of taxpayers. To know more about the platform, check with Reyson Badger, one of the top tax advisors in the UAE. We have years of experience and are updated with everything that revolves around the UAE tax!