Who actually has to submit audited financial statements?

Under Law 47, any company (not part of a Tax Group) whose revenue in the tax period exceeds AED 50 million must prepare and keep audited financial statements from a licensed auditor. That threshold is tied purely to gross revenue, not profit.

Two categories must always be audited regardless of revenue size: a "Qualifying Free Zone Person" (so the authority can verify compliance with the economic substance test and proper segregation of qualifying income), and every Tax Group (which must prepare audited special purpose financial statements). On the other side, a company with revenue of AED 3 million or less that elects Small Business Relief is exempt from the audit requirement — though it still must keep books and retain records for seven years. RASEEKH pins down exactly where you stand before you hire an auditor you don't actually need, or fall behind on one you do.