We are a trusted accounting and auditing firm delivering professional financial services with accuracy, integrity, and compliance.
Fast Track Accounting & Tax Consultancy is a trusted financial services provider dedicated to delivering expert solutions in accounting, taxation, and financial advisory. With a team of highly skilled professionals, we assist businesses of all sizes in achieving financial stability and compliance with regulatory requirements. Our mission is to provide seamless, accurate, and timely financial services that enable businesses to focus on growth and success.
Learn MoreWe offer professional solutions to support and grow your business
We offer comprehensive internal and statutory audit services to ensure compliance with regulations.
Stay compliant with expert VAT filing and consultancy services.
We assist with corporate tax filing, ensuring timely submissions.
We help businesses register for VAT and corporate tax with the relevant authorities.
We provide technical support and training for various accounting softwares.
Our ICV program services help businesses navigate the complex process of obtaining ICV certification.
Maintain accurate financial records with our professional services.
Evaluate business ideas with detailed reports and financial insights.
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The UAE Federal Tax Authority (FTA) has announced a special waiver and refund initiative for the AED 10,000 administrative penalty imposed on businesses that failed to register for Corporate Tax on time. This initiative, effective for penalties issued from 1 June 2023 and as of 14 April 2025, allows companies and individuals who are required to register for Corporate Tax—but received or are due to receive a late registration penalty—to have the AED 10,000 penalty automatically cancelled or refunded, provided they file their first Corporate Tax Return (or annual declaration, if exempt) within seven months from the end of their first tax period or financial year, instead of the usual nine months. If you have not paid the penalty, it will be automatically removed from your EmaraTax account. If you have already paid, the amount will be credited back to your EmaraTax account and can be used against other tax liabilities or refunded upon request. No action is required for reconsideration requests, as the waiver will be processed automatically for those who qualify. This waiver only applies to your first tax period, and the deadline for paying the actual Corporate Tax remains nine months from the period end. To benefit, please check your tax period end date and make sure your first return or declaration is submitted within seven months. For any assistance or questions, contact Fast Track Accounting and our team will guide you through compliance and help you benefit from this important initiative.
In the United Arab Emirates, any business or individual required to register for Corporate Tax must do so within the deadline set by the Federal Tax Authority (FTA). Failure to complete the registration on time will result in an administrative penalty of AED 10,000. This penalty applies broadly to taxable persons, including companies, business owners, tax groups, and certain categories of exempt persons. The rule is effective for late registrations occurring from June 1, 2023 onwards, as established by Cabinet Decision No. 75 of 2023.
To support businesses and provide relief, the FTA has announced an initiative that waives and refunds the AED 10,000 late registration penalty, provided certain conditions are met. Starting from April 14, 2025, if a company or individual files their first Corporate Tax Return—or annual declaration in the case of exempt entities—within seven months of the end of their first tax period or financial year, the penalty will be automatically cancelled or refunded. If the penalty has not yet been paid, it will be removed from the EmaraTax account without any further action needed. For those who have already settled the penalty, the AED 10,000 will be credited back to their EmaraTax account and can be used for future tax payments or requested as a refund. Even if a reconsideration request has been submitted, the waiver will apply automatically, and the request will be considered closed.
To benefit from this initiative, businesses and individuals should review the end date of their first tax period or financial year and ensure that their first Corporate Tax Return or declaration is submitted within seven months from that date, rather than the usual nine months. It is important to note that this waiver is only available for the first tax period, and the deadline for settling the actual Corporate Tax payment remains at nine months after the period ends. In most cases, no additional action is required, as the process is automatic for those who qualify. For personalized assistance or to confirm your eligibility, you are encouraged to contact Fast Track Accounting, where our team is ready to guide you through the requirements and help you make the most of this valuable waiver.
We’ve launched a brand-new client portal with improved design and faster access to services.
We represented our brand at the Gulf Business Summit and shared our latest innovations.
We are now ISO 9001 certified, a testament to our commitment to quality and excellence.
We welcomed 6 new talents to our growing team, expanding our development and support units.
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“I loved working with this Organisation. Staffs are Friendly and they provide efficient Service within less time. Highly recommended.”
“Excellent service, accurate information been provided highly recommended for VAT related issues.”
“Happy that I took service from Mr.Shabir. very professional and honest.”
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