UAE Corporate Tax: Banks start telling business clients to meet registration deadlines

Dubai: New businesses launching in the UAE are being told by their banks to get started on corporate tax registrations at the earliest to ensure smooth dealings in future, according to market sources.

“Down the road, it will be virtually impossible to open and operate bank accounts for those that do not comply with these stipulations on corporate tax registration,” said Halim Kanaan, Partner at Dubai-based Kanaan Advocates & Legal Consultants.