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For a foreign entrepreneur the first question about Dubai is usually the same. Can I actually own my company outright or do I need a local partner? In DMCC the answer is straightforward. You can own 100% of your business as a foreigner with no Emirati partner required. That single fact is why DMCC has […]
Picture the first morning of your audit. The auditor asks for the bank statements. Your team finds ten months and spends two days chasing the other two. Then a supplier invoice cannot be traced. Then a figure in the accounts does not match the VAT return. None of this means your business did anything wrong. […]
Many free zone owners still believe an audit is optional. In 2026 that belief is expensive. Corporate Tax has changed the picture and several free zones now treat audited financial statements as a hard condition of doing business. Some will not renew your trade license until you file them. Others tie the audit to your […]
Most businesses in UAE get fined because a deadline slipped or a document was never filed. The penalty framework has grown far wider since Corporate Tax arrived. A company can now owe tax penalties to the Federal Tax Authority and licensing fines to its free zone at the same time. This blog covers how UAE […]
The first full cycle of UAE Corporate Tax is now behind most businesses and the Federal Tax Authority has made its position clear. Registration alone does not make a company compliant. Under Federal Decree-Law No. 47 of 2022, corporate tax compliance in UAE means you register on time, keep proper records, file an accurate return […]
For most UAE companies the audit does not end when the auditor signs the report. It ends when that report is successfully submitted to the right authority in the right format before the right deadline. This final step trips up more businesses than the audit itself. A perfectly prepared set of audited financial statements is […]
Many businesses found themselves in an uncomfortable situation once the corporate tax came into existence under Federal Decree-Law No. 47 of 2022 that audited financial statements for everyone. The new law has made it compulsory for companies with revenue over AED 50 million and qualifying free zone persons to submit audited financial statements annually. This […]
Thousands of businesses in the UAE have to go through audit and tax compliance processes annually to ensure a good standing with the various regulators and free zone authorities. Each jurisdiction has its own specific requirements for the Audit Report Submission. The legal framework of compliance has also been strengthened since the announcement of Federal […]
In 2024, the Federal Tax Authority (FTA) carried out over 90,000 inspection visits, reflecting the UAE tax administration’s increased focus on compliance. The FTA’s 2023–2026 Strategy confirms that tax audits are risk- and compliance-based, meaning businesses are selected for review either through random sampling or on the basis of specific risk indicators. In this guide, […]
The UAE has been making significant efforts to implement its tax laws and regulations. It is also making advances in having proper financial records, as the supporting documents are compulsory for business compliance. As a startup, an SME, or an established organisation, knowing what may raise a red flag for a VAT Audit in UAE […]
