Tax Audit Services in Dubai, UAE
Tax Audit UAE
Emirates Chartered Accountants Group - Leading Tax Audit Firm in Dubai, UAE.
Call for Consultation
Pradeep Sai | Partner
Mob: +971 556530001
Email: sai@emiratesca.com
Documents to be submitted during a Tax Audit in the UAE
During the course of tax audit in the UAE, the auditor can seek any documents as they deem fit which can include, but not limited to, the following:
- Records of all supplies and Imports of Goods and Services.
- All Tax Invoices and alternative documents related to receiving Goods or Services.
- All Tax Credit Notes and alternative documents received.
- All Tax Invoices and alternative documents were issued.
- All Tax Credit Notes and alternative documents were issued.
- Records of Goods and Services that have been disposed of or used for matters not related to Business, showing Taxes paid for the same.
- Records of Goods and Services purchased and for which the Input Tax was not deducted.
- Records of exported Goods and Services.
- Records of adjustments or corrections made to accounts or Tax Invoices.
- Details of Goods imported to the state along with Customs declarations and Supplier Invoices.
Penalties on Non-Compliance of Tax / VAT Regulations in the UAE.
A Tax Audit in the UAE is rather a comprehensive and holistic approach from the authority to ensure tax compliance from the registrants and to safeguard revenue streams of the Federal Government.
Various laws and regulations issued by Ministry levy severe penalties, including prison sentences and other monetary penalties if a registrant is found guilty of non-compliance.
- The failure of the Person conducting Business to keep the required records and other information specified in the Tax Procedures Law and the Tax Law: AED 10,000 for the first time; AED 20,000 in case of repetition.
- The submittal of an incorrect Tax Return by the Registrant: AED 1,000 for the first time; AED 2,000 in case of repetition
- The failure of the Person conducting Business to facilitate the work of the Tax Auditor: AED 20,000 in violation of the provisions of Article 21 of the Tax Procedures Law.
- The failure of the Taxable Person to submit a registration application within the timeframe specified in the Tax Law: AED 10,000
These violations of tax laws can also lead to imprisonment of the authorized signatory and can be considered a criminal offense.
Our role in Tax Audit in the UAE
Tax Audit in the UAE is rather unknown water for the business communities in the region and requires utmost attention. A pre-audit review is appropriate for businesses to understand their exposure to non-compliance.
As VAT Consultants in UAE, with our expertise and knowledge in the related field after encountering practical scenarios which we face on a day-to-day basis, we shall extend our guidance, support, execution, and resolution on all your challenges encountered which will be based on the provisions and guidelines issued by FTA.
We have assisted efficiently a wide spectrum of clients from different industries in the UAE to manage their taxable transactions by complying with VAT laws, advising on transactions, and practically resolving the issues.
VAT Audit review will help you in understanding the causes of non-compliance and address them for the past and the future. It will help you in identifying the areas which require rectification while assuring the accuracy of taxes remitted.
Understanding the weaknesses of your tax system can help you form a better and more compliant system that will get through any audit from the authorities.
For more information on Tax audits in the UAE please contact our below representatives:
For Tax Audit Service in Abu Dhabi
Mr. Hari Krishnan NPS
hari@emiratesca.com
+971 56 578 7047
For Tax Audit Service in Dubai & Northern Emirates
Mr. Manu Palerichal
manu@emiratesca.com
+971 5 2828727
