Corporate Tax
Corporate Tax Records UAE Businesses Should Maintain
A guide to accounting records and supporting documents UAE businesses should organize for corporate tax preparation and return support.
Accounting records form the starting point
Corporate tax preparation begins with reliable accounting records. The trial balance, general ledger and financial statements should agree, while each material balance should have supporting evidence.
Records should explain the company’s transactions and allow reported figures to be traced to invoices, contracts, bank activity and schedules.
Core documents and schedules
The exact file depends on the company, but commonly relevant records include:
- ✓General ledger and final trial balance
- ✓Financial statements
- ✓Bank statements and reconciliations
- ✓Sales and purchase invoices
- ✓Fixed-asset and depreciation schedules
- ✓Receivable and payable ageing
- ✓Related-party transaction information
- ✓Tax adjustment and relief calculations
Maintain evidence for significant positions
Keep contracts, calculations, approvals and explanations for unusual or material items. Related-party balances, exempt income, tax losses, financing costs and relief claims may need specific analysis.
Businesses operating in free zones should keep information supporting their status, activities and income classification rather than assuming all income receives the same treatment.
Create a permanent tax file
Maintain registration documents, elections, correspondence, filed returns and supporting workings in a permanent file. Add an annual folder for each tax period and use consistent naming.
MAHTABCERT helps UAE businesses organize corporate tax records, review accounting information and prepare return workings.
Frequently Asked Questions
Are accounting records required for corporate tax preparation?
Yes. Accurate accounting information and supporting documents are essential for determining and supporting the tax position.
Should related-party transactions be documented?
Yes. Businesses should identify related parties and maintain appropriate information supporting relevant transactions and balances.
Can digital copies be retained?
Businesses commonly maintain digital records, provided they remain complete, readable, secure and available as required.