If you are a corporate taxpayer, it is important to maintain accurate records of your bank-related details with the Federal Tax Authority (FTA). The FTA offers a full range of high-quality and integrated e-services to help taxpayers benefit from such services in the most convenient and effective manner. Such a service includes the option of editing the corporate tax bank details via the EmaraTax platform. This feature allows corporate taxpayers to update the details of their bank account and the new details appear in the Corporate Tax Registration after the edited application is submitted. The following article is a complete user guide on how to edit corporate tax bank details through the EmaraTax platform.
Login to EmaraTax
To edit corporate tax bank details, you need to access your EmaraTax account with your login credentials or through UAE Pass. If you do not have an EmaraTax account, one can register with an EmaraTax account by clicking on the ‘Sign Up’ link. In the case of a forgotten password, the user can restart the password by clicking on the ‘Forgot password?’ link.
Taxable Person Tile
After you log in to the system, choose the Taxable Person from the list and click on the ‘View’ button to access the Taxable Person’s dashboard.
Edit Bank Details
To edit the Bank Details of your Corporate Tax Registration application, click ‘. .. ’ against the registered Corporate Tax application. Click on ‘Edit Bank Details’ to begin the process of modifying the Bank Details section of the Corporate Tax Registration application.
Instructions and Guidelines
One of the most important prerequisites of applying for the Edit Bank Details is to read the instructions and guidelines given by the FTA.
Bank Details Section
This functional application has been developed into two short segments, each of which is represented in the progress bar. In the present section, the progress bar will turn blue and will be underlined. Upon proceeding to the next steps of the document, the completed sections will be marked with a green color.
In order to proceed to the next section, all the required fields of the current section have to be filled in. The fields which are optional are written next to the field name as optional.
Table 1: Bank Details Section
| Field Name | |
|---|---|
| 1. | Country |
| 2. | SWIFT Code |
| 3. | Account Holder’s Name |
| 4. | Bank Name |
| 5. | Bank Account Number |
| 6. | Sort Code/IFSC/FEDWIRE/BSB |
| 7. | Branch Name |
| 8. | Copy of Bank Authorization letter |
If one wants to edit the bank details, they will click on ‘Enable Editing. ’ This will enable the fields in the given section to be edited. If you do not wish to edit the section and you click on ‘Enable Editing,’ click on ‘Disable Editing’ so that the fields cannot be edited.
If the bank details were not filled out during the corporate tax registration process, then they can be added later. Furthermore, you have the opportunity to add, modify, and delete your banking information.
You may click on the ’Save as Draft’ button to save your application and then come back to complete it at another time. However, you may click on the ‘Cancel’ button to cancel the application process.
It is important to pay attention to the fact that your account details should be correct. When applying for a bank account, it is mandatory to submit copies of all the letters which you have received from your bank. In case it is an account with a UAE-incorporated bank or a foreign bank account, the name that appears on the account must match the legal name of the company registered with the FTA.
Enter Bank Details
After you have filled in all the required fields, click on the “Next Step” button to save the information that has been entered in this section.
Review and Declaration
This section can be used to review the old information input by you within the application operational space. Moreover, it also incentivizes the new update that you have done across the application. Upon reading through all the information filled in on the application, check against the box to affirm the correctness of the information filled in the application. On the bottom of the page, click on the ‘Submit’ button to submit the Corporate Tax Registration – Edit Bank Details application. Click ‘Yes’ to confirm.
Post Application Submission
Upon successful submission of your application, a Reference Number is provided for your application. This reference number should be remembered for future uses. The Edit applications are different from the other applications as they are approved on submission and do not require FTA approval. The changes you are submitting will be seen in your Corporate Tax profile. Press ‘Download’ to have a PDF copy of the acknowledgment screen downloaded.
Application History – Approved
To check the status of the application, click ‘. .. ’ on the particular registered Corporate Tax application. To check the status of the application for Corporate Tax Registration – Edit Bank Details, choose ‘View Application History’. You can also track your Corporate Tax Registration – Edit Bank Details status here.
FAQs
Question: Can I edit my corporate tax bank details if I have not yet registered for corporate tax?
Answer: No, registration of corporate tax is mandatory and during registration, you have to fill in your bank details. However, if you are already registered using your bank, you can update your bank details through the EmaraTax site.
Question: Do I need to provide supporting documents when editing my corporate tax bank details?
Answer: If you are in the process of opening a bank account, you are required to submit photocopies of any correspondence that you have received from your bank.
Question: How long does it take for the changes to reflect in my corporate tax profile?
Answer: The changes made will be seen in your Corporate Tax profile as soon as the application is successfully submitted.
In conclusion, editing corporate tax bank details involves some basic steps that can be done through the EmaraTax platform. If the taxpayers want to update the details of their bank, they should ensure that they have followed all the instructions as provided in this guide. This will assist in preventing inconveniences or complications accompanying the filing of corporate tax returns or the remittance of taxes to the FTA.
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