VAT Audit Services In Dubai
VAT Audit Services in Dubai
The UAE government implemented VAT on the provision of taxable goods and services on January 1, 2018. The Federal Tax Authority (FTA) has the authority to audit tax-paying companies to assess their tax compliance. Beyond Numbers offers VAT audit services in the UAE, which can aid in detecting and revealing any major deficiencies in the VAT system, such as transaction verification.
With the help of our VAT audit services in Dubai, United Arab Emirates, the entity’s VAT accounting and return submission will be carefully and critically examined in compliance with the Federal Tax Authority’s guidance note on matters such as document management, tax collection, payment, and input tax claim. Depending on the established procedures, a report is then issued for the organization’s future use. The government essentially examines a company’s taxable entity duty during a VAT audit. This kind of audit is carried out by the FTA to ensure that all obligations are met and that all taxes are properly collected and paid to the government within the allotted time frame.
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The FTA carries out tax checks to ensure that tax registrants in the UAE are adhering to the VAT Law, Excise Tax Law, and other tax laws. Because the FTA conducts the tax audit, businesses must enlist the aid of a reputable VAT advisory firm and registered tax agent in Dubai, such as Beyond Numbers, to prepare for the audit.
How can VAT Audit Services provided by Beyond Numbers help your Company?
VAT Audit Services can boost your company’s profitability in several different ways. Which are:
Maintain VAT Compliance
The audit will enable a review of previously submitted VAT returns to locate any inaccuracies, minimise the chance that the Tax Authority would discover non-compliances and levy larger fines against businesses as a result. Early detection of mistakes or non-compliances is crucial because it enables businesses to implement the proper corrective measures (such as, where applicable, a Voluntary Disclosure scheme), which can spare them from paying higher fines in the event of an official tax audit by the Authority.
Enables cost savings
The possibility of unintentional double payment of VAT, improper VAT being charged by the suppliers, etc. will be reduced thanks to due diligence procedures, which will also help lessen the likelihood of facing fines from the Tax Authority.
Prepares for the future
By having all the necessary information on hand and being organised, businesses can prepare for official tax audits and prevent mistakes that could arise from rushing at the last minute.
Encourage the nation’s economy
The likelihood of fraud being committed by the business is significantly decreased as compliance is carefully monitored.
How can the Chartered Accountants on the Beyond Numbers team assist you?
- information is given.
- Beyond Numbers Understands the Business – The company’s information is examined.
- Vat Audit Report: At Beyond Numbers, we’ll produce a VAT Audit Report that will give you a sense of how the VAT Filing is currently doing.
- Review of the Audit Report – It is verified that all the data is accurate and the company complies with all applicable laws and regulations.
Our Strengths
- Accurate evaluation of the company and its operations
- A committed group of specialists
- International Financial Reporting Standards (IFRS) compliant
- Vast experience from many different industries and corporations
Why Beyond Numbers Can Benefit Your Business
Due to its many benefits, VAT Audit is a crucial service that every firm should adopt. Every time a business decides to submit a VAT application, the VAT Audit should be performed. Beyond Numbers’ professionals will comprehend your company’s operations and offer the appropriate answer. Contact Us if you require any additional information regarding VAT Audit Services in the UAE.