Audit Ministerial Decision

May 22, 2023

 Ministerial Decision No. 82 of 2023 on the Determination of Categories of Taxable Persons Required to Prepare and Maintain Audited Financial Statements for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses 
Minister of State for Financial Affairs: 

– Having reviewed the Constitution,

– Federal Law No. 1 of 1972 on the Competencies of Ministries and Powers of the Ministers, and its amendments,

– Federal Decree-Law No. 13 of 2016 on the Establishment of the Federal Tax Authority, and its amendments,

– Federal Decree-Law No. 28 of 2022 on Tax Procedures,

– Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses,

Has decided: 

Article (1) 

Definitions 

Words and expressions in this Decision shall have the same meanings specified in the Federal Decree-Law No. 47 of 2022 referred to above (“Corporate Tax Law”).

Article (2) 

Categories of Taxable Persons Required to Prepare and Maintain Audited Financial Statements 

For the purposes of Clause 2 of Article 54 of the Corporate Tax Law, the following categories of Taxable Persons shall prepare and maintain audited financial statements:

1. A Taxable Person deriving Revenue exceeding AED 50,000,000 (fifty million United Arab Emirates dirhams) during the relevant Tax Period.

2. A Qualifying Free Zone Person.

Article (3) 

Publication and Application of this Decision 

This Decision shall be published and shall come into effect (15) fifteen days following the date of its publication.

Mohamed bin Hadi Al Hussaini 

Minister of State for Financial Affairs 

Issued by us:

On: 19/ RAMADAN /1444

Corresponding to: 10/04/2023