UAE Corporate Tax made audited financial statements mandatory for more businesses. Under Ministerial Decision No. 82 of 2023, taxable persons with revenue above AED 50 million and every Qualifying Free Zone Person must keep audited financial statements. We audit with your tax return in mind, so the figures you file can be traced back to the accounts.
Who this is for
- Taxable persons with revenue above AED 50 million in a tax period
- Qualifying Free Zone Persons claiming the 0% rate
- Tax groups preparing aggregated financial statements
- Businesses that expect FTA scrutiny and want audited figures behind the return
What the engagement covers
Threshold review
We confirm whether the audit requirement applies to you for the tax period, and whether it applies to each entity in a group.
IFRS-based accounts
Corporate Tax starts from accounting profit under IFRS, so we make sure recognition and measurement are right before any tax adjustment.
Tax-sensitive balances
We give extra attention to related-party transactions, transfer pricing support, qualifying income for free zone entities and provisions.
Timeline to filing
Returns are due within nine months of the year end, so we schedule fieldwork early enough to leave time for your tax adviser.
What you receive
- Audited financial statements suitable for FTA purposes
- Independent auditor's report
- Related-party transaction schedules
- Management letter
Frequently asked questions
Do you file our Corporate Tax return?
Our licence covers auditing of accounts. We work alongside your tax agent or adviser and give them audited figures they can rely on.
We are a free zone company under AED 50m revenue. Do we need an audit?
If you want to be treated as a Qualifying Free Zone Person, yes. That status requires audited financial statements whatever your revenue.