Under Article 6(4) of Cabinet Decision No. 74 of 2023, UAE businesses registered with the FTA must notify the Authority within 20 business days of any updates to:

• Entity type
• Legal name/trade name of the company
• Trade license
• Ownership structure/documents
• MOA or AOA
• Business activities
• Addition/ removal of branches and sole establishments
• Registered address and registered contact details (email ID and phone number) of the entity
• Emirates ID/ Passport of the Authorized Signatory, or any changes in the email ID/ phone number of the Authorized Signatory
• Emirates ID/ Passport of the Directors, Partners, Owners etc.

Non-compliance typically incurs penalties from AED 1,000 to AED 10,000.
However, a grace period from January 1, 2024 to March 31, 2025 provides a window to update records without penalties. This period reverses penalties incurred since January 1, 2024 automatically.
This grace period grants taxpayers approximately five months to ensure accurate records and allows the FTA to enhance its portal for these updates.

Examples of Required Updates

• Failing to notify the FTA of a new branch and uploading the trade license.
• Not informing the FTA of a business address change within the timeline.
• Not updating VAT/Excise Tax records before registering for Corporate Tax.
• Registering for Corporate Tax with incorrect details and not amending them within the set timeframe.
This is a crucial opportunity for businesses to review and correct tax records, ensuring compliance and avoiding penalties post-grace period.