UAE Corporate Tax: Who Is Required to Prepare Audited Financial Statements

Updated: August 2026

By Alia Noor, FCMA, CGMA, MBA
UAE Registered Tax Agent | Associate Partner – Taxation & Compliance Advisory
Ahmad Alagbari Chartered Accountants

Under the UAE Corporate Tax regime, certain categories of Taxable Persons are required to prepare and maintain audited Financial Statements.

The Ministry of Finance originally issued Ministerial Decision No. 82 of 2023 prescribing these requirements. For Tax Periods commencing on or after 1 January 2025, the applicable requirements are contained in Ministerial Decision No. 84 of 2025.

The following Taxable Persons are required to prepare and maintain audited Financial Statements:

1. Taxable Persons With Revenue Exceeding AED 50 Million

A Taxable Person, other than a Tax Group, is required to prepare and maintain audited Financial Statements where its Revenue exceeds AED 50 million during the relevant Tax Period.

For a Non-Resident Person, only Revenue attributable to its Permanent Establishment or Permanent Establishments and/or nexus in the UAE is considered for this threshold.

2. Qualifying Free Zone Persons

A Qualifying Free Zone Person (QFZP) is required to prepare and maintain audited Financial Statements irrespective of Revenue.

Accordingly, the AED 50 million Revenue threshold does not apply when determining whether a QFZP is required to have its Financial Statements audited.

3. Tax Groups

For Tax Periods commencing on or after 1 January 2025, a Tax Group is required to prepare and maintain audited special-purpose Financial Statements irrespective of Revenue.

Under FTA Decision No. 7 of 2025, these are prepared in the form of Aggregated Financial Statements, based on the standalone Financial Statements of the Tax Group members.

The Aggregated Financial Statements must be audited under a special-purpose framework in accordance with the relevant International Standards on Auditing (ISA).

An individual member of a Tax Group is not required to maintain audited standalone Financial Statements for Corporate Tax purposes even where that member's Revenue exceeds AED 50 million.

Conclusion

The requirement to prepare audited Financial Statements under UAE Corporate Tax depends on the category of the Taxable Person.

The AED 50 million Revenue threshold applies to Taxable Persons other than Tax Groups, while Qualifying Free Zone Persons and Tax Groups are subject to audit requirements irrespective of Revenue.

Businesses should therefore consider both their Revenue and their Corporate Tax status when determining their audit requirements.

Disclaimer

This article is for general informational and educational purposes only and does not constitute tax, legal, accounting or professional advice. Businesses should refer to the UAE Corporate Tax Law, applicable Ministerial and FTA Decisions and relevant FTA guidance when determining their audit requirements.

Tags

UAE Corporate Tax, Audited Financial Statements, Corporate Tax Audit, Ministerial Decision 84 of 2025, Qualifying Free Zone Person, QFZP, Tax Group, Aggregated Financial Statements, FTA Decision 7 of 2025, AED 50 Million, Federal Tax Authority, FTA, UAE Tax, Corporate Tax Compliance

Written by Alia Noor

International Keynote Speaker | Forbes Finance Council Member | UAE Registered Tax Agent | Award-Winning Tax Advisor · United Arab Emirates

Founder of XpertsLeague. With over 20 years of experience across taxation, governance, compliance, finance and emerging technologies, Alia Noor combines technical expertise with practical insight to help organisations and professionals make better decisions. She is an FCMA, CGMA and MBA (Accounting & Finance), a UAE Registered Tax Agent and VAT Agent, a member of the Forbes Finance Council and the Federal Tax Authority Tax Agent Business Advisory Group, and an award-winning tax advisor recognised among the UAE Top Business Leaders.