The UAE tax framework generally operates with a five-year limitation period for tax audits and assessments. However, Federal Decree-Law No. 17 of 2025 introduced important provisions that allow the Federal Tax Authority (FTA) to conduct a tax audit or issue a tax assessment for a significantly longer period in specific circumstances. Under the amended Tax … Continued
The UAE tax framework underwent an important procedural update with the issuance of Federal Decree-Law No. 17 of 2025, which amends Federal Decree-Law No. 28 of 2022 on Tax Procedures. The amendments came into effect on 1 January 2026 and introduce changes affecting tax audits, tax assessments, refund claims, voluntary disclosures, credit balances, and the … Continued
Businesses established in the Abu Dhabi Global Market (ADGM) operate under a distinctive legal and regulatory framework. As an international financial centre, ADGM has its own commercial legislation, accounting requirements, filing procedures, and regulatory authorities. Understanding these requirements is important for companies that want to maintain proper compliance and avoid delays, penalties, or regulatory issues. … Continued
Companies registered with the Dubai Multi Commodities Centre (DMCC) are subject to specific financial reporting and audit requirements. Understanding the DMCC audit requirements is important for maintaining good standing, completing annual compliance obligations, and avoiding unnecessary delays with the company’s regulatory filings. Under the current DMCC requirements, member companies are required to prepare annual accounts … Continued
A merger or acquisition can create significant opportunities for business owners, investors, and companies entering new markets. However, the value of an M&A transaction depends heavily on the accuracy of the information available before the deal is completed. A due diligence audit checklist UAE can help buyers systematically examine the target company’s financial position, operations, … Continued
Tax law rarely fits every business situation neatly. Free zone structuring, group restructuring, cross-border transactions, and industry-specific arrangements often raise questions that public guidance simply doesn’t answer in enough detail. For these cases, the Federal Tax Authority (FTA) offers a Private Clarification service a formal channel for taxpayers to obtain the FTA’s written, binding position … Continued
A statutory audit in the UAE is a legally required, independent examination of a company’s financial statements to ensure accuracy, transparency, and compliance with applicable laws and accounting standards such as International Financial Reporting Standards (IFRS). Under the UAE Commercial Companies Law and relevant free zone regulations, many businesses are required to maintain audited financial … Continued
The audit report is an essential aspect of running any organization. It helps businesses to determine the integrity of reported financial information. It contains the auditor’s opinion, a formal conclusion from an auditor that provides a detailed overview of a company’s financial standing, and an auditor’s specialized assessment of the finances. An audit report is … Continued
A well-operating business relies on several key factors, including continuously assessing various work levels, areas, procedures, systems, and activities. To maintain and improve performance, businesses must implement a robust internal audit process that ensures adherence to protocols and company policies. Also read: Types of Audit Report Audit criteria serve as essential benchmarks in internal audits, … Continued