Expert Corporate Tax Audit Support by TAG: UAE's Leading Tax Consultants & FTA Approved Tax Agency. Ensure Audit Readiness, Mitigate Risks, and Navigate FTA Examinations with Confidence.
Our Comprehensive Corporate Tax Audit Services Include:
With the implementation of the UAE Corporate Tax (CT) system, businesses must ensure compliance with Federal Tax Authority (FTA) regulations. A Corporate Tax Audit is a crucial process that evaluates a company's tax liability, compliance status, and financial records to ensure that all tax obligations are met accurately.
The Ministry of Finance (MoF) introduced Corporate Tax as part of the UAE’s commitment to international tax transparency, aligning with global best practices while keeping one of the lowest corporate tax rates worldwide.
What is a Corporate Tax Audit in the UAE?
A Corporate Tax Audit is a mandatory review conducted to assess whether businesses are meeting their tax obligations under the UAE Corporate Tax Law. The process involves auditors reviewing financial statements, tax returns, and transaction records to detect any discrepancies or non-compliance issues.
During an audit, the FTA evaluates whether a business has accurately reported and settled its corporate tax liabilities within the designated timeframe. Companies must comply with all corporate tax laws and audit procedures to avoid potential penalties or fines.
Who Needs a Corporate Tax Audit in the UAE?
According to Ministerial Decision No. 82 of 2023, the following entities must prepare and maintain audited financial statements:
✔ Businesses generating annual revenue exceeding AED 50 million.
✔ Qualifying Free Zone Persons operating under the UAE Free Zone Tax Regime.
Unlike random inspections, UAE Corporate Tax Audits follow specific criteria. Businesses that fail to comply with tax regulations risk facing financial penalties, legal consequences, or operational disruptions.
Conditions for Audited Financial Statements
To comply with Corporate Tax Law, businesses must prepare audited financial statements that adhere to International Financial Reporting Standards (IFRS). Companies operating in the Free Zones must follow IFRS accounting guidelines to ensure tax compliance.
Benefits of a Corporate Tax Audit
- Ensures Full Compliance with UAE Tax Regulations
A corporate tax audit identifies errors, miscalculations, and non-compliance issues before they result in penalties. - Minimizes Financial Risks & Avoids Penalties
Regular audits help businesses avoid financial penalties, legal actions, or reputational damage due to tax violations. - Enhances Financial Transparency & Fraud Prevention
By reviewing tax records and transactions, audits help detect fraud, financial mismanagement, and discrepancies. - Supports Business Growth & Investment Decisions
An audit provides insights into profitability, financial efficiency, and tax-saving strategies, helping businesses make informed investment decisions. - Facilitates Business Valuation & Mergers
For businesses planning mergers, acquisitions, or ownership transfers, tax audits provide accurate financial data to attract investors.
How TAG Can Help with Corporate Tax Audits
At TAG, we provide expert Corporate Tax Audit services to help businesses:
✔ Prepare for tax audits & compliance checks.
✔ Conduct internal reviews to detect potential risks.
✔ Ensure accurate corporate tax filings & financial reporting.
✔ Handle FTA audit procedures efficiently.
Our consultants ensure that your business is fully compliant with UAE Corporate Tax laws, minimizing risks and optimizing tax strategies.
