The UAE has rolled out updated tax rules requiring all tax groups to prepare audited financial statements under the country’s corporate tax regime.
Announced by the Ministry of Finance, the new ministerial decision is part of efforts to strengthen transparency and align with international financial reporting standards. It clarifies that while tax groups must submit audited special purpose aggregated financial statements, individual group members are not required to produce separate audited reports — a move aimed at reducing compliance burdens.
The Federal Tax Authority (FTA) is expected to release further guidelines on how these special purpose statements should be prepared.
Additionally, the decision provides new clarity for Qualifying Free Zone Persons involved in distributing goods from Designated Zones. The FTA will soon issue detailed guidance to help these businesses fully benefit from the Free Zone tax incentives.