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VAT Audit Services in UAE

Since the start of the implementation of the Value-Added Tax (VAT) in UAE,
VAT Audit is now a common procedure for businesses in UAE.

VAT Audit Services

Under UAE

Businesses should complete their tax year which includes a 12-month period covered by tax returns, either monthly or quarterly as Federal Tax Authority (FTA) has stipulated.

During the start of the Value-Added Tax implementation, VAT Consultants in UAE has been providing TAX Services for VAT Registered businesses.

What is the VAT Audit?

A Value-Added Tax Audit or Tax Audit is a formal evaluation performed by the Federal Tax Authority to verify information, fraud and evasion issues and inaccurate tax returns. Federal Tax Authority will inspect tax returns both randomly and intentionally.

A definition by Tax Procedures Law (Federal Decree-Law no. 7) issued by the Ministry of Finance defines Tax Audit as a procedure undertaken by the Authority to inspect the commercial records or any information or data related to a person conducting business. Federal Tax Authority can be performed at its office or the location of the business. The primary significance of TAX Audit is to ensure that the tax liability of business is correctly inspected and evaluated, paid correctly and tax due is collected and submitted to the government in a timely manner.

Preparation for Tax Audit

Since the start of the implementation of Value-Added Tax, it is expected that businesses will be subject to TAX Audit. This will identify non-compliance entities which will result in penalties and loss of reputation. Internal Tax Audit by Value-added tax consultants scheduled ahead of time will be done to review, analyze, and evaluate all tax procedures stipulated by the law is followed. They will ensure that the company is:

  • Adhering to the tax laws and procedures
  • Implementing the prescribed processes
  • Maintaining and monitoring accurate record-keeping and retention of documents
  • Filing of Value-Added Tax returns in a timely and compliant manner

It is highly recommended to undergo this Internal Audit review at least once a year to ensure that your business is compliant with the updated tax laws and other statutes.

How the Averyx Group can help you with Internal Tax Audit?

Internal Tax Audit is significant for your business and can guarantee that all aspects of tax laws and procedures to adhere effectively. Averyx Group offers comprehensive taxation services in the UAE and with our value-added services we envisioned to enable businesses to focus on their business growth by assigning registered tax experts to assist in matters concerning tax in the UAE.

Our services will ensure businesses that the goal and interest of tax compliance are protected and the risk of non-compliance is diminished to a high degree. This procedure will help the avoidance of penalties and loss of reputation.

Our team of expert VAT consultants and professionals in the UAE are certified and registered and have significant tax exposure and experience. We develop a planned program and approach that ensures your business is given the high-quality service you deserve.

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