vAT aUDIT
VAT Audit Services in Dubai
Fitris Management Consultants offers comprehensive VAT audit services in Dubai to ensure your business complies with UAE VAT regulations. Our expert team reviews your VAT records, transactions, and tax filings to verify accuracy, identify discrepancies, and ensure proper tax compliance. We help businesses minimize the risk of VAT errors, reduce penalties, and optimize tax positions. With our in-depth audits, we provide clear insights and actionable recommendations for improving VAT processes, ensuring your business is fully compliant and efficient. Let us handle your VAT audits with precision and expertise.
VAT audit procedure
Pre-Audit Assessment: We begin by reviewing your VAT registration, tax returns, and financial records to understand your business’s VAT obligations.
Document Collection: We gather all relevant VAT-related documents such as tax invoices, purchase and sales records, VAT returns, and payment statements.
Transaction Review: Our team examines the business’s transactions to identify any discrepancies, such as underreporting or overreporting of VAT.
Compliance Check: We assess whether your VAT filings are in line with UAE tax laws, ensuring that VAT was applied correctly to all taxable supplies.
Identify Errors: We pinpoint any errors, inconsistencies, or non-compliance issues and recommend corrective actions to avoid potential fines or penalties.
Report Generation: After completing the audit, we provide a detailed report that highlights the findings, suggests improvements, and offers solutions for compliance.
Final Review and Submission: We assist you with any follow-up procedures and ensure your VAT filings are adjusted and submitted accurately to the FTA.
documents required for VAT Audit
VAT Registration Certificate: Proof of VAT registration with the Federal Tax Authority (FTA).
Tax Invoices: Copies of all sales and purchase invoices showing VAT amounts.
VAT Returns: Copies of all VAT returns submitted to the FTA for the relevant period.
Bank Statements: Bank statements showing VAT payments made and any VAT refunds received.
Contracts and Agreements: Relevant contracts for supplies and services to validate tax obligations.
Sales and Purchase Records: Detailed records of business transactions, including sales and purchases.
Import/Export Documents: If applicable, documents for import and export activities with VAT-related details.
VAT Payment Receipts: Evidence of VAT payments made to the FTA during the period under audit.
Adjustments and Refunds: Documentation supporting any VAT adjustments or refund claims made.
Other Supporting Documents: Any additional documents requested by the FTA, such as financial statements or internal reports.
How Fitris Management Consultants Can Help Your Business?
Fitris Management Consultants streamlines your VAT audit by gathering necessary documents, identifying discrepancies, and ensuring compliance with UAE regulations. We provide clear recommendations and handle all communication with the FTA for a smooth, efficient audit process.
Contact us today for VAT audit services
Need assistance with your VAT audit? Get in touch with Fitris Management Consultants for expert support. We’ll guide you through the process and ensure your business stays compliant. Contact us now!
