A Tax Audit is one of the compliance checks to verify a person’s VAT liability is correct by way of examining various records which are maintained by the taxpayer. A tax audit may be carried out at the taxable person’s business premises (known as a "field tax audit") or in the offices of the FTA.
VAT is a self-assessment tax, meaning the taxpayer himself assesses the amount of tax payable and recoverable input tax based on the supplies made during the period and reports it to the FTA through VAT returns. The tax audit procedure is used by the FTA in order to assess whether the self-assessed declaration is correct or not.
During the audit, if there are some discrepancies resulting in underpayment of the VAT or over claiming the input VAT deduction, the FTA will issue a notice in the form of an assessment asking the taxpayer to pay the VAT along with penalties.
FBC provides professional tax auditing services by helping in assessing tax so no errors happen during the audit and you can be penalty free.
You can book your appointment by just dialing or sending a WhatsApp message to +971 52 302 7682
You will be assigned to a respected consultant based on your requirements. Our skilled experts will then get in touch with you for consultation.
If all of the necessary facts and documentation are provided during the consultation, our professionals will complete the work in the shortest period feasible.
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