Crack Down on Big Business in the UAE!

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Did you know that certain businesses in the UAE have to maintain audited financial statements?

Are you aware of the new financial reporting requirements introduced by the Minister of State for Financial Affairs in the UAE?

The Minister of State for Financial Affairs in the UAE has created a new rule called Ministerial Decision No. 82 of 2023.

This decision basically says that some companies and businesses need to get their financial statements checked out by a fancy professional accountant.

Why, you ask? Well, so these companies can't cheat their way out of paying taxes and report their finances more accurately!

The rule applies to two categories of companies:

• Companies that make more than AED 50,000,000 (that's a lot of zeroes, people!) in a certain time period.

• Companies that are designated as "Free Zone Persons” - which basically means they work in a special area with special rules to make it easy for them to trade and do business with other countries.

So there you have it, folks! Keep your financial statements in check and your accountants on speed dial because Ministerial Decision No. 82 of 2023 means business!

Also, don't forget to check out our latest eBook, designed to help finance leaders like you navigate the complex world of finance and stay ahead of the competition.

If you're still confused about how to do it, don't hesitate to book a free consultation with us. We'll be happy to help you navigate the process and ensure your business is on the right track.