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Financial Statements

Definition

Financial Statements are formal records summarizing a company’s financial performance and position, required for Corporate Tax filing in the UAE.


Key points


  • Must include balance sheet, income statement, and notes.
  • Prepared using IFRS.
  • Required to calculate accounting profit and taxable income.
  • Must be retained and available for FTA inspection.


Practical example

A business submits IFRS-compliant financial statements alongside its Corporate Tax return to support the declared profit figures.


Why it matters

Accurate financial statements form the foundation of compliant Corporate Tax calculations.

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