Are Your Records Corporate Tax Ready?

Why Record Management Matters More Than Ever

On 27 August 2025, the UAE Federal Tax Authority (FTA) issued an important reminder: all businesses subject to Corporate Tax must maintain accurate records and documentation to support the information provided in their Tax Returns. The announcement reinforced a point that cannot be overstated — effective record management is not optional; it is a legal obligation that affects businesses of every size and sector.

The FTA has made it clear that:

• Taxable Persons must retain detailed records of transactions, assets, liabilities, and shareholdings.
• Exempt Persons must also keep supporting documentation to demonstrate the basis of their exemption.
• All entities are required to retain records for at least seven years after the end of the relevant Tax Period.
• Tax Returns and Corporate Tax payments must be submitted within nine months of the end of the financial year.

Failure to comply exposes businesses to administrative penalties, late payment fines, and reputational risk.

The Compliance Challenge

Corporate Tax is still a relatively new feature of the UAE’s business landscape, and many organisations are grappling with the scale of the compliance burden. For some, the challenge lies in digitising legacy paper records. For others, it is about consolidating data spread across multiple systems or ensuring their processes are robust enough to withstand an FTA audit.

The reality is that record-keeping is complex. Businesses must keep track not only of day-to-day transactions but also assets purchased or sold, liabilities, and changes in ownership. The FTA has made clear that these records need to be complete, accurate, and readily available.

Beyond Avoiding Penalties

While the immediate driver may be compliance, good record management offers far more than protection against fines. A structured, accessible archive of financial and operational data provides:

• Visibility into performance and financial health.
• Audit readiness in case of inspection.
• Confidence for investors, regulators, and stakeholders.
• Operational efficiency, freeing staff from time-consuming manual searches.

In short, accurate and accessible records are not just a regulatory burden — they are a strategic business asset.

How Crown Information Management Supports UAE Businesses

At Crown Information Management, we help businesses of all sizes and industries meet these requirements with tailored record management solutions, including:

• Scanning, Indexing and Complex Metadata Capture: Digitising physical records and creating structured digital archives that make retrieval fast and reliable with accurate metadata.
• Secure Archiving and Storage: Providing compliant and secure storage for both digital and physical records, ensuring they remain accessible for the full seven-year retention period (and beyond, if required).
• Enterprise Content Management Solutions: Tools such as EffiDocX and other scalable systems that automate workflows, monitor compliance, and provide full visibility over retained data.
• Customised Solutions: Every business has unique needs. Whether you are an SME seeking an affordable entry-level platform or a multinational requiring a fully integrated ECM solution, Crown designs a record management approach that fits.

Costs, Considerations, and ROI

Investing in structured record management is not simply a compliance cost — it delivers measurable returns. Businesses that manage records effectively can:

• Avoid penalties and fines linked to incomplete or missing documentation.
• Save time and resources by enabling staff to find information quickly.
• Reduce physical storage costs through digitisation.
• Build resilience and trust by demonstrating governance and compliance.

When weighed against the financial and reputational impact of non-compliance, the return on investment is clear.

Preparing for the Future

The FTA’s latest announcement is a timely reminder: Corporate Tax compliance is about more than submitting a return. It is about building and maintaining systems that ensure records are complete, accurate, and readily available for seven years or more.

For UAE businesses, now is the moment to review record-keeping practices and ask: are we corporate tax ready?

Tailored Solutions for Every Business

Whether you’re a multinational or an SME, Crown Information Management designs solutions to fit your needs.

For larger organisations, we provide enterprise-scale ECM platforms, robust indexing, and long-term archiving tailored to complex structures.

For SMEs, compliance doesn’t have to be costly. Our EffiDocX Summer Offer delivers implementation in as little as 10 days, priced under AED 10,000, with potential savings of AED 10,000 or more through avoided penalties and efficiency gains.

If your business is reviewing compliance processes, talk to our team about how Crown Information Management can help you establish a record management framework tailored to your needs.