The recent update by The Dubai Development Authority (DDA) regarding the submission of Financial Statements by FZLLCs operating in various Free Zones is something that all registered companies and branch entities should take note of. Here are 5 of the most important points you need to know about the update:
- Audited financial accounts need to be submitted electronically by all Free Zone Limited Liability Companies (FZLLCs) and Branch entities registered with DDA.
- The last date for submitting the financial statement along with the summary sheet is on or before 30 November 2022.
- After this submission, companies will need to submit their Audited Financial Statement within six months from the end of the financial year.
- Regulations 63 to 68 of the DDA Private Companies Regulations 2010 clearly define the requirement for audited financial statements.
- The update will be applicable for the nine Free Zone clusters regulated by DDA, namely: Dubai Internet City, Dubai Media City, Dubai Knowledge Park, Dubai International Academic City, Dubai Outsource City, Dubai Production City, Dubai Studio City, Dubai Science Park and Dubai Design District.
If you are looking for a reliable and long-term accounting service firm in Dubai that can offer the best financial accounting services for your Final Audit, please do reach out to us. NNCA works with some of the most reputed business names in the UAE and our team will ensure a smooth and hassle-free process to help you achieve the deadline and avoid penalties.