Financial ReportingAuditingCorporate TaxFree Zones
This ADGM guidance document outlines the financial statement, accounts, and audit requirements for ADGM entities that qualify as 'qualifying free zone persons' (QFZPs) under UAE Corporate Tax Law. It details audit exemptions and filing requirements for small or dormant QFZPs, emphasizing the need for ADGM-registered auditors where applicable.
Key requirements
- QFZPs must adhere to specific financial statement requirements.
- QFZPs must determine if they qualify for any audit exemptions based on size, parent company status, subsidiary status, or dormancy.
- QFZPs must file accounts with ADGM.
- Audits, when required, must be conducted by an ADGM Registered Auditor.
Applies to: ADGM entities that are 'qualifying free zone persons' under UAE Corporate Tax Law