FTA CTP007 Explained — A Practical Checklist for Audit & Tax Teams

As the UAE’s Corporate Tax regime matures, many tax groups are now facing a critical compliance hurdle — the FTA CTP007 Form, which requires the submission of aggregated financial statements (AFS) for the entire tax group. 

Yet, many businesses remain uncertain about what “aggregated” really means, how it differs from consolidated financial statements, and what level of audit scrutiny is expected by the Federal Tax Authority (FTA). 

This guide breaks it all down — offering a clear, practical roadmap for your audit and tax teams to stay compliant, minimize risk, and streamline reporting across entities. 

Understanding FTA Form CTP007

The FTA Form CTP007 is the submission form for aggregated financial statements under the UAE Corporate Tax Law, primarily for tax groups. 

Unlike consolidated statements, aggregated financials present the summation of each group entity’s financials without eliminating intra-group transactions or balances. 

This form plays a key role in determining the taxable income of the entire group, ensuring that each member entity’s financial data aligns with FTA expectations. 

FTA CTP007 typically includes:

• Summary of income and expenses for each group entity 

• Intra-group transactions and related party disclosures 

• Comparative financials for prior years 

• Confirmation of audit completion 

Why Many Tax Groups Face Challenges

Audit and tax teams across the UAE are discovering complexities such as: 

• Inconsistent ERP/accounting systems among subsidiaries 

• Misaligned fiscal years or reporting currencies 

• Divergent accounting policies across group entities 

• Unclear guidance on comparative data and eliminations

These issues, if unaddressed, can delay group filing and invite additional FTA clarifications or review requests. 

Step-by-Step Checklist for CTP007 Compliance

To simplify the process, here’s a comprehensive checklist your team can follow when preparing aggregated financials: 

1. Confirm Tax Group Composition
   Ensure all member entities are approved under the same Tax Group ID. 
2. Align Accounting Policies
   Standardize policies for recognition, depreciation, and revenue reporting. 
3. Complete Entity-Level Audits
   Each group entity’s FS must be finalized before aggregation. 
4. Aggregate (Not Consolidate)
   Add financial data entity-wise, retaining intra-group transactions. 
5. Ensure Comparative Figures
   Include prior-year comparatives to meet reporting consistency. 
6. Validate Data Accuracy
   Cross-check entity totals with corporate tax returns. 
7. Maintain Documentation
   Retain working papers and justification for FTA audits. 

Best Practices for Audit & Tax Teams

To ensure a smooth submission process, teams should: 

• Establish a centralized financial consolidation template. 

• Cross-verify intercompany transactions with transfer pricing reports. 

• Document all arm’s-length intra-group dealings. 

• Collaborate early with external auditors to pre-empt review challenges. 

Compliance Insights: Audit Readiness Beyond the Numbers

The FTA’s approach is increasingly data-driven. Submissions that show consistency, transparency, and sound documentation will fare better in potential audit reviews. 

For professional firms and large groups, aggregated FS preparation is not just a compliance necessity — it’s an opportunity to demonstrate governance strength and financial maturity to regulators, investors, and partners alike. 

How NR Doshi & Partners Can Help 

At NR Doshi & Partners, we support tax groups through every phase of compliance — from formation to filing. Our specialists assist with: 

• End-to-end Corporate Tax Group compliance (including CTP007 filing and representation before FTA) 

• Audit assurance for aggregated financial statements 

• ERP integration and data automation to simplify reporting 

• Tax technology advisory for seamless tax data management 

• Strategic guidance to strengthen your governance and risk controls 

With over 40 years of UAE experience, we understand both the regulatory expectations and the operational realities of multi-entity structures. 

Ready to streamline your group’s tax reporting?
Reach out at enquiry@nrdoshi.ae to ensure your CTP007 submission stands up to FTA scrutiny.