Corporate tax returns

A corporate tax return in Verasol is worked out from your posted books for one financial year. While it is Draft, Calculated or Reviewed, it is a calculation that you can repeat as often as you like, and nothing is in your books unless you accrue the tax. A person submits the return on EmaraTax, the FTA's portal, and then records the filing in Verasol. Verasol then books the tax and closes the year for changes to its profit.

Find your returns#

Open Corporate Tax › CT Returns in the main menu. Each year has one return, with its status, its main figures and the Filed Date.

• 1 2 The list shows All years, or the year you choose in Financial Year. New Return starts the return of the year chosen in Financial Year. With All years, it starts the financial year running today: your company's financial year, which is not always the calendar year. If the year already has a return, Verasol opens it.
• 3 Opening balance is for corporate tax still owed for a year before your books start. See Tax of a year before your books start.

Net Payable is the year's tax less any payments on account. Whether it has been paid shows on the return itself, under Payments of the tax.

Calculate the return#

1. Click View on the year's row.
2. Click Calculate. The status becomes Calculated, and the button now reads 1 Recalculate.

The return shows the Income Calculation and the Tax Liability (see how Verasol works out the tax), the boxes Small Business Relief, Free Zone (QFZP) and Tax Losses, and the Tax Adjustments. Adjustments that Verasol made from your books carry the 4 Auto badge, with their Legal Reference. Verasol makes them again each time you calculate; adjustments you add yourself stay.

Click Recalculate whenever the books of the year change, for example after month-end entries. Calculating books nothing.

Add an adjustment#

Add what the books cannot tell Verasol, such as a donation that is not deductible or income that is exempt.

1. Click 5 Add Adjustment (while the return is Draft, Calculated or Reviewed).
2. Choose the Adjustment Type: Add-back (Non-deductible) or Deduction.
3. Choose the Category, write a Description and enter the Amount (AED).
4. Enter the article it rests on in Legal Reference (Optional).
5. Click Add Adjustment. The return goes back to Draft: click Calculate again.

1 Adjustment Type, 2 Category, 3 Amount (AED), 4 Legal Reference (Optional).

To remove an adjustment you added, click the bin button on its row and confirm. Automatic adjustments cannot be removed: they follow the corporate tax treatment of your accounts, which you change in the chart of accounts.

Review the return#

When the figures are checked, click 2 Mark Reviewed. The status becomes Reviewed. If the books of the year change after that, click Recalculate on the reviewed return: it goes back to Calculated, and you review it again. Adding an adjustment sets it back to Draft.

Book the tax at the year end#

After the tax period has ended, a calculated or reviewed return shows Accrue tax. It books the calculated tax on the last day of the tax period, so the year's profit and loss includes it before you close the year. Filing later books only the difference. If the figure has changed when you accrue again, Verasol reverses the accrual and posts it again.

File the return#

Verasol does not send returns to the FTA. Submit the return on EmaraTax first, then record the filing:

1. On the return, click 3 File with FTA. The button works once the tax period has ended; in the picture above, FY 2026 has not ended yet.
2. Enter the Filing date: the day you submitted the return on EmaraTax. It is after the end of the tax period and not after today.
3. Enter the FTA Reference that EmaraTax gave you.
4. Click File with FTA.

Before it books anything, Verasol calculates the return again from the books. If a figure that decides the tax has changed since you calculated, it refuses and asks you to recalculate and review the return. Otherwise it:

• books the tax;
• deducts the payments on account made by the filing date;
• records the losses of earlier years that the return used, and the loss of the year, if any;
• sets the status to Filed.

What Verasol books#

The tax is booked on the last day of the tax period while that accounting period is open, otherwise on the filing date. For FY 2025, Crescent IT Solutions accrued its tax of AED 73,892.93 on 31 December 2025, so filing booked nothing more:

Payments on account are deducted on the filing date: Verasol debits Corporate Tax Payable and credits Corporate Tax Paid in Advance.

Record the payment#

A filed return shows Payments of the tax: the Tax due, the Payments on account deducted, what is Paid and the Balance due, with its status, such as Due, Partly paid or Paid. After the due date, an unpaid balance is marked Overdue.

1. Click Record Payment.
2. Enter the Payment Amount: the whole balance, or part of it.
3. Choose the bank account in Paid from bank account. Only AED accounts are offered.
4. Enter the Payment Date: the day the money left the bank, on or after the filing date and not after today.
5. Enter the FTA Reference of the payment and click Record Payment.

Recording and voiding a payment needs the same permission as filing: Tax: prepare and file returns, record tax payments. Without it, the return shows the payments but not Record Payment.

3 The Balance due goes down with each payment. Each payment is listed with its bank account and journal entry. If a payment was recorded by mistake, 4 Void reverses its journal entry, and the amount is due again.

For FY 2025, the payment of 24 September 2026 was booked as:

Correct a filed return#

When the books of a filed year change, the return and the dashboard tell you so. A filed return offers two ways to correct it. Both ask for a reason, which is optional.

• 1 Amend calculates the return again from the books and reverses and posts again whatever changed. The status becomes Amended. If nothing changed, Verasol tells you the return matches the books.
• 2 Reopen reverses the entries of the filing and sets the return back to Draft, to be calculated and filed again. An accrual made at the year end stays. Reopening is refused while payments of the return are recorded (void them first, or amend instead), or while a later return uses this year's tax loss.

Verasol records the correction in your books. Submitting a correction to the FTA is done on EmaraTax.

Tax of a year before your books start#

If corporate tax of a year that ended before your books in Verasol start is still owed, enter it once as an opening balance:

1. Click Opening balance.
2. Enter the Financial Year and the Corporate tax payable (AED).
3. Leave Opening date empty to use the company's opening date (the day before its first document).
4. Click Book opening balance.

The year appears in the list as Filed, with the Opening badge. Verasol books the amount on the opening date: for Crescent IT Solutions, AED 38,610.00 for FY 2024 was debited to 3900 Opening Balance Equity and credited to 2310 Corporate Tax Payable on 31 December 2024. To record its payment, click the row and use Record Payment. The pencil button corrects the amount. The red cross button removes the opening balance after you confirm; this is refused while payments of it are recorded.

Related#

• Corporate tax in Verasol
• Voluntary payments on account
• Tax losses carried forward
• Small Business Relief
• Chart of accounts
• Period closing