Frequently asked questions
Do small UAE companies really need formal books?
Yes. Corporate Tax Article 56 requires every taxable person to keep records supporting the return for seven years, regardless of size, and VAT-registered businesses must produce invoices and ledgers on request.
When does a UAE company need audited financial statements?
Above AED 50 million revenue for Corporate Tax purposes, for every Qualifying Free Zone Person, and wherever the free-zone authority or the company's own memorandum requires it.
Guides on this topic
3 Golden Rules of Accounting Every Business Must KnowAccounting Services Dubai: Your Complete Guide to Professional Financial ManagementBills Receivable Journal Entry Explained: Format & ExamplesHow to Record Journal Entry for Accrued Expenses | 2026 UAE GuideJournal Entry for Accrued Income: Complete GuideProfessional Bookkeeping Services UAE: Complete Financial Management for Your Business
