Sharjah · Media City
Accounting, tax and audit for SHAMS companies
SHAMS is Sharjah Media City. Besides corporate tax and VAT, one compliance task gets attention there: SHAMS publishes its own guidance on beneficial owner records, which every company has to keep under federal rules.
Send one free request and get quotes from up to three licensed accounting, tax and audit firms for your SHAMS company.
About SHAMS
SHAMS, Sharjah Media City, is a free zone in Sharjah. It licenses its own companies, while corporate tax, VAT and e-invoicing are handled by the Federal Tax Authority.
Under Cabinet Decision 109 of 2023, in force since 16 November 2023, companies must keep a register of their beneficial owners and file it with their registrar. SHAMS has published guidance on how this works for its companies. Penalties for breaches are set in Cabinet Decision 132 of 2023.
Audit for SHAMS companies
- For corporate tax
Every Qualifying Free Zone Person needs audited IFRS financial statements (Ministerial Decision 84 of 2025), as does any taxable person with revenue over AED 50m.
- For SHAMS
Whether SHAMS asks for audited accounts at renewal is not confirmed here. Ask SHAMS or the firms that quote.
The auditor must be licensed by the Ministry of Economy and Tourism. See audit services.
Corporate tax for SHAMS companies
A SHAMS company must register for corporate tax, within 3 months of incorporation if it was set up on or after 1 March 2024, and file a return 9 months after year-end.
It pays 0% on qualifying income only as a Qualifying Free Zone Person, which requires adequate substance in the zone, audited IFRS statements, transfer pricing compliance, and non-qualifying revenue of no more than 5% of total revenue or AED 5m, whichever is lower. Otherwise the normal rates apply: 0% up to AED 375,000 of taxable income and 9% above it.
See the Qualifying Free Zone Person guide.
Services SHAMS companies ask for
Most requests are for corporate tax registration, bookkeeping and corporate tax filing. Firms can also help keep company records such as the beneficial owner register up to date.
- External auditAudited financial statements by a registered auditor
- Corporate tax registrationRegister on EmaraTax on time
- Corporate tax return filingFinancial statements, tax computation and the return
- Bookkeeping & accountingMonthly books, reconciliations and reports
- VAT registrationThreshold check, application and TRN
- Liquidation & deregistrationClose the company and its tax registrations properly
SHAMS accounting: common questions
What is a beneficial owner register?
A record of the people who ultimately own or control the company. Cabinet Decision 109 of 2023 requires companies to keep one and file it with their registrar. SHAMS has its own guidance on it.
Does a SHAMS company need to register for corporate tax?
Yes. Every Free Zone Person must register with the FTA, even if it expects to pay 0%.
Do I need VAT registration?
Once taxable supplies and imports pass AED 375,000 over 12 months, yes. Voluntary registration is possible from AED 187,500. See VAT registration.
Is the request free?
Yes. Up to three licensed firms send quotes, with no obligation.
Get quotes for your SHAMS company
One short form. Up to three licensed firms. Free, no obligation.