The provisions of the federal law on taxation have mandated the Federal Tax Authority (FTA) with the legal right to perform a tax audit on any person to determine their compliance with the provisions of the relevant laws. The FTA audit is an important part of the government’s assessment of a company’s responsibility as a taxable entity, and it is conducted in the UAE to ensure that all liabilities are paid and tax dues are collected within the given timeframe. Moreover, the government also evaluates whether companies are following the responsibilities that apply to their business according to the Federal Tax Authority UAE tax laws.
If your company is facing an FTA tax audit in the UAE, Corporate Group can provide experienced tax agents to assist you. Conducting a VAT audit review is crucial to identify any disparities in your organization’s tax policies and appropriate procedures as per UAE tax laws. This review is more of a necessity than an option as it reinforces your organization’s ability to face a VAT audit and avoid falling under the category of VAT non-compliance.
To rectify any mistakes before an assessment, the FTA has set various options for taxpayers, such as filing a voluntary disclosure or a reconsideration form. A VAT audit review helps you understand the causes of non-compliance and address them in the past and future. It also helps identify any areas that require rectification while ensuring the accuracy of taxes remitted and compliance with FTA UAE tax laws.
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