Will businesses be required to register for Corporate Tax if they are exempt from Corporate Tax or have no tax liability?
Yes, all businesses, even those not owing any Corporate Tax, must register for Corporate Tax and get a unique registration number. Some special cases like certain types of funds and government entities also need to register.
All people or businesses that can be taxed, even if they don’t owe any taxes, have to sign up for Corporate Tax and get a special registration number. This includes certain funds, like pension funds and investment funds, and companies owned by specific exempt individuals or groups.
Some public benefit organizations listed in a government decision must also register for Corporate Tax. And government entities, controlled entities, as well as certain types of businesses dealing with natural resources, need to register if they are involved in taxable activities.
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