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May 15, 2026

Under Article 54 of the Corporate Tax Law, this Decision mandates specific Taxable Persons to prepare and maintain audited financial statements. The requirement applies to two categories: any Taxable Person with revenue exceeding AED 50,000,000 during the relevant tax period, and all Qualifying Free Zone Persons. This rule ensures a higher standard of financial reporting for larger businesses and entities in the free zone regime. This Decision applies to tax periods that commenced before 1 January 2025, as it is repealed by Ministerial Decision No. 84 of 2025 for subsequent periods.

[Applicable for tax periods commencing before 1 January 2025]
[Repealed by Ministerial Decision No. 84 of 2025]

This is not an Official Translation:

Determination of Categories of Taxable Persons Required to Prepare and Maintain Audited Financial Statements for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses

Ministerial Decision No. 82 of 2023

Issued 10 Apr 2023 – (Effective 15 days after publishing in the Official Gazette)

[GTL Notes]

The Minister of State for Financial Affairs has decided:

Having reviewed the Constitution,
Federal Law No. 1 of 1972 on the Competencies of Ministries and Powers of the Ministers, and its amendments,
Federal Decree-Law No. 13 of 2016 on the Establishment of the Federal Tax Authority, and its amendments,
Federal Decree-Law No. 28 of 2022 on Tax Procedures,
Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses,

Article 1 - Definitions

Words and expressions in this Decision shall have the same meanings specified in the Federal Decree-Law No. 47 of 2022 referred to above (“Corporate Tax Law”).

Article 2 - Categories of Taxable Persons Required to Prepare and Maintain Audited Financial Statements

For the purposes of Clause 2 of Article 54 of the Corporate Tax Law, the following categories of Taxable Persons shall prepare and maintain audited financial statements:

A Taxable Person deriving Revenue exceeding AED 50,000,000 (fifty million United Arab Emirates dirhams) during the relevant Tax Period.
A Qualifying Free Zone Person.

Article 3 - Publication and Application of this Decision

This Decision shall be published and shall come into effect (15) fifteen days following the date of its publication.