1 July 2026 · Financials
Financial Statements for Corporate Tax
Corporate tax starts from your financial statements. You need an income statement and balance sheet for the period prepared on a proper accounting basis; some businesses require audited accounts depending on category and revenue. Accounting profit is then adjusted (book-to-tax) to reach taxable income. Clean, timely books are what make filing accurate.
Exiloz Management & Tax Consultant · Dubai-based FTA-focused advisory · VAT, corporate tax & accounting
Build proper financials
The return is only as reliable as the accounts.
- Income statement and balance sheet for the tax period.
- Prepared on an acceptable accounting basis.
- Supported by a trial balance and ledgers.
- Audited where your category/revenue requires it.
From profit to taxable income
Accounting profit is not taxable income by itself.
- Add back non-deductible expenses.
- Remove exempt income.
- Apply relief elections where chosen.
- Document the adjustments for the file.
Related guides
Frequently Asked Questions
For companies preparing accounts for corporate tax.
Do I need audited financial statements?
It depends on your category and revenue; some businesses require audited accounts. Exiloz confirms what applies to you.
What is book-to-tax adjustment?
The process of converting accounting profit into taxable income by adjusting for non-deductible expenses, exempt income and reliefs.
What if my bookkeeping is behind?
We can catch up and clean the books so your financials and return are accurate.
Can Exiloz prepare the financials?
Yes. We prepare financial statements and the tax computation together.
Get filing-ready financials
Exiloz prepares clean financial statements and the tax computation together.