Answer:
No. Not all entities subject to UAE Corporate Tax are required to have audited financial statements. Only specific categories of taxable persons listed in Ministerial Decision No. 84 of 2025 are subject to this obligation.
According to the Decision:
- Individual Taxable Persons (i.e., not part of a Tax Group) must prepare and maintain audited financial statements only if their Revenue exceeds AED 50,000,000 during the relevant Tax Period.
- Qualifying Free Zone Persons are also required to maintain audited financial statements, regardless of revenue.
- Tax Groups must prepare audited special purpose consolidated financial statements in accordance with the form, procedures, and rules specified by the Federal Tax Authority.
- For non-resident persons, only revenue from permanent establishments and/or nexuses in the UAE is considered for the AED 50 million threshold.
Legal Basis:
- Article 54(2) of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses
- Ministerial Decision No. 84 of 2025 on Audited Financial State...