UAE Corporate Tax Audit

Is Audit of financials compulsory after UAE corporate tax implement

UAE Corporate tax – Audit of Financials statement

When Audit financials must as per UAE corporate Tax

Audited Financials Statement Necessity / compulsory in below cases:

1. All taxable person if Revenue exceeds AED 50 Mn during relevant Tax periods
2. All Qualifying Free zone persons.
3. Private pension or social security funds to get exempt from corporate tax.

Other Important considerations:

• Audit must be done by UAE registered Auditors
• Tax group revenue must be total Tax Group revenue including parent and subsidiary
• Tax group need to get Audited for consolidated financials.

Source: Corporate Tax Guide | CTGACS1- November, 2023