Audited Financial Statements Decision (2025)

Ministerial Decision No. 84 of 2025 · UAE Federal

Official title
Ministerial Decision No. 84 of 2025 on Audited Financial Statements for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses
Instrument
Ministerial Decision No. 84 of 2025
Issued by
Minister of Finance
Jurisdiction
UAE Federal
Dates
issued 25 March 2025 · in force 25 March 2025
Status
in force
Topics
Corporate tax · Accounting & audit
Official source
tax.gov.ae · official text (PDF)
Full text
English official text — 5 articles, 485 words, from the official text
Verified
25 October 2026
Print

For tax periods starting on or after 1 January 2025, requires audited financial statements from taxable persons (other than tax groups) with revenue above AED 50 million and from every Qualifying Free Zone Person, requires tax groups to prepare audited special purpose financial statements, and repeals Ministerial Decision No. 82 of 2023.

Summary

Ministerial Decision No. 84 of 2025 is the current rule on who must have audited financial statements for Corporate Tax. It was issued on 25 March 2025 under Article 54(2) of the Corporate Tax Law (Federal Decree-Law No. 47 of 2022), came into effect on the date of issuance, applies to Tax Periods commencing on or after 1 January 2025, and repeals Ministerial Decision No. 82 of 2023, which continues to govern earlier Tax Periods.

Article 2(1) sets the two mandatory categories. First, a Taxable Person that is not a Tax Group and that derives Revenue exceeding AED 50,000,000 during the relevant Tax Period. Second, a Qualifying Free Zone Person, with no Revenue threshold. A free zone company claiming the 0% rate on Qualifying Income therefore needs an audit however small it is.

Article 2(2) deals with Tax Groups. A Tax Group must prepare and maintain audited special purpose financial statements in the form, and under the procedures and rules, specified by the FTA. This ties in with Article 3 of Ministerial Decision No. 114 of 2023, under which a Tax Group's consolidated financial statements mean the aggregation of the standalone statements of the Parent Company and each Subsidiary with intra-group transactions eliminated.

Article 2(3) adds that a Qualifying Free Zone Person engaged in the distribution of goods or materials in or from a Designated Zone under Ministerial Decision No. 265 of 2023 must comply with any additional procedures the FTA prescribes. Article 2(4) provides that, for a Non-Resident Person, only Revenue derived through Permanent Establishments and nexuses in the UAE counts towards the AED 50,000,000 threshold.

Article 3 repeals Ministerial Decision No. 82 of 2023 but keeps it in force for Tax Periods that commenced before 1 January 2025. Article 4 applies the new decision to Tax Periods commencing on or after 1 January 2025, and Article 5 brings it into effect on the date of issuance.

Compared with the 2023 decision, the changes are the carve-out of Tax Groups from the AED 50,000,000 test in favour of audited special purpose statements, the Permanent Establishment-only Revenue measure for non-residents, and the additional procedures for Designated Zone distributors. A Taxable Person below AED 50,000,000 that is neither a Qualifying Free Zone Person nor a Tax Group still has no Corporate Tax audit requirement, though it must prepare financial statements under the applicable accounting standards.

Who it applies to

For Tax Periods commencing on or after 1 January 2025: Taxable Persons other than Tax Groups with Revenue above AED 50,000,000, every Qualifying Free Zone Person, and Tax Groups, which must prepare audited special purpose financial statements. Non-Residents count only Revenue of their UAE Permanent Establishments and nexuses.

Contents

English official text in 5 articles. Open the full text or jump to a provision:

  1. Article 1 — Definitions
  2. Article 2 — Preparing and Maintaining Audited Financial Statements
  3. Article 3 — Repeals
  4. Article 4 — Application of the Decision to Tax Periods
  5. Article 5 — Publication and Application of the Decision

Key provisions

Article 2(1)(a)A Taxable Person that is not a Tax Group and derives Revenue exceeding AED 50,000,000 during the relevant Tax Period must prepare and maintain audited financial statements under Article 54(2) of the Corporate Tax Law.
Article 2(1)(b)A Qualifying Free Zone Person must prepare and maintain audited financial statements, with no Revenue threshold.
Article 2(2)A Tax Group must prepare and maintain audited special purpose financial statements in the form and under the procedures and rules specified by the FTA, read with Article 3 of Ministerial Decision No. 114 of 2023.
Article 2(3)A Qualifying Free Zone Person distributing goods or materials in or from a Designated Zone under Ministerial Decision No. 265 of 2023 must comply with any additional procedures prescribed by the FTA.
Article 2(4)For a Non-Resident Person, only Revenue derived through Permanent Establishments and nexuses in the UAE counts towards the AED 50,000,000 threshold.
Article 3Repeals Ministerial Decision No. 82 of 2023, which continues to apply to Tax Periods that commenced before 1 January 2025.
Article 4The decision applies to Tax Periods commencing on or after 1 January 2025.
Article 5The decision was published and came into effect on the date of its issuance, 25 March 2025.

Obligations and deadlines

  • Taxable Persons (not Tax Groups) with Revenue above AED 50,000,000: maintain audited financial statements for each Tax Period from 1 January 2025.
  • Every Qualifying Free Zone Person: maintain audited financial statements regardless of Revenue.
  • Tax Groups: prepare audited special purpose financial statements in the FTA's prescribed form.
  • Designated Zone distributors claiming 0%: follow any additional FTA procedures.

Penalties

No penalty is set in the decision. Failing to keep the required records and financial statements attracts the administrative penalties in Cabinet Decision No. 75 of 2023, and a Qualifying Free Zone Person without audited financial statements loses the 0% rate for the Tax Period because audited accounts are a condition of that status.

In practice — how Polaris handles it

Every free zone client claiming the 0% rate must have its accounts audited under this decision whatever its size, so we build the audit into the compliance calendar at the start of each financial year and line up the auditor before year-end rather than after. For the mainland and RAK ICC companies we administer, the AED 50,000,000 threshold means most are outside the mandatory audit, and we tell them so plainly while noting that a bank, free zone authority or investor may still ask for audited accounts. Where we have formed a Tax Group for a client, we prepare the aggregated statements in the FTA's special purpose format and arrange their audit as a single engagement. Our audit support service covers the bookkeeping clean-up, the lead schedules and the auditor liaison, so the audit opinion is ready before the Corporate Tax return is due.

History and citations

RepealsMinisterial Decision No. 82 of 2023
CitesCorporate Tax Law · Accounting Standards Decision · Qualifying and Excluded Activities Decision (2023, superseded) · Audited Financial Statements Decision (2023)
Cited byQualifying and Excluded Activities Decision (2025)

“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.

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Related Polaris services

Source and verification. This record was written from the official text published at mof.gov.ae, read on 25 October 2026. Quoted from that text: “a Tax Group shall prepare and maintain audited special purpose financial statements in accordance with the form, procedures and rules specified by the Authority.”
Published for general information by Polaris Corporate Services FZ-LLC, a licensed Trust and Corporate Service Provider. It is not legal advice and does not replace the official text, which prevails in case of difference. Arabic is the authoritative language of UAE federal and emirate legislation; English translations are provided by the issuing authorities. Instruments change: check the status and the official source before relying on this page.

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