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ToggleTax Audit is a procedure of verifying and inspecting the accounts of a taxpayer to confirm their adherence of provisions to the government. Our Tax and VAT Consultants Services in Abu Dhabi have helped businesses sustain in the long run. Let us dive deeper into this topic, to help you understand Tax Auditing and make better decisions for your business in this field.
Tax Audits are at large conducted by the FTA in UAE for any reason at any time. However, as per Article 17 of the Tax Procedure Law, the FTA must send in a notice at least 5 days before the Tax Audit is scheduled to take place.
Tax Auditing in the UAE can be a tedious process. Here are some tips brought to you by our Team of Expert Tax Consultants to help you with it.
To ensure that your organization is thoroughly prepared for a Tax Audit, you must take out time to do your homework and research on the prevalent laws in UAE that would apply to your Business. If time does not permit, you can easily hire Tax and VAT Consultant Services in Abu Dhabi to take over this vital task for you.
Another task that can be provided to you through VAT Consultants Services, is reviewing all your calculations of income and expenditure over the year, with regards to your business. Numbers can be tricky, and hence, we recommend you to hire a professional to handle it.
Reviewing your VAT Returns can help you save a lot of money if done correctly. Filing a VAT Return involves submitting online the values of sales VAT, input VAT, output VAT, input tax, etc. in the relevant fields of the VAT return form on the FTA portal. This can ensure that all figures are correct and have the appropriate information.
Having the correct and necessary document for a Tax Audit is of utmost importance. Generally, companies in UAE that are being audited must present the FTA with the following documents:
Tax Auditing can take away from the other important tasks at your workplace and hence it is recommended to hire a Tax & VAT Consultants Services In Abu Dhabi, to ensure hire proficiency in carrying out this task.
In order to reduce the likelihood of being audited, it is highly recommended to hire a professional to take care of all your accounting and auditing needs.
If youβre looking for Professional Tax and VAT Consultants Services in Abu Dhabi, click here to get in touch with us.
We pride ourselves on our versatility and expertise in working across a diverse range of industries. From real estate and hospitality to technology and healthcare, our tailored financial solutions address the unique challenges and opportunities within each sector.
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