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  • Dubai Business Boom: Top Strategies for Seamless Company Formation in 2024.
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Alerts
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VAT Audit Services

Ensure that your Value Added Tax (VAT) payments are submitted on time to avoid penalties and maintain compliance.
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VAT Audit Services in UAE

Under the VAT laws in the UAE, businesses must adhere to various VAT requirements, including maintaining relevant records, paying VAT liabilities, and filing VAT returns. Additionally, they must comply with VAT audits in the UAE.

The Ministry’s Tax Procedures Law outlines the enforcement procedures set by the FTA. UAE VAT audits play a crucial role in these enforcement measures, ensuring that entities, particularly VAT registrants, remain compliant with VAT regulations and do not evade taxes.

Frequent VAT audits by the FTA necessitate that you are prepared with your VAT records. This means maintaining accurate accounts and documentation for VAT throughout the year. VAT audits allow the FTA to assess your readiness and compliance with UAE VAT laws.

Wise Consultancy offers expert VAT audit services to ensure effective and timely responses to FTA audits. We review your VAT records, past returns, VAT calculations, and other documentation to verify your compliance. Our understanding of your business enables us to prepare comprehensive VAT audit reports that summarize your compliance with VAT in the UAE.

VAT audit consultants in UAE

Wise Consultancy is a leading provider of VAT audit services in the UAE. We assist businesses in meeting VAT requirements and maintaining accurate records for all transactions. Our support extends throughout the audit process, including pre-audit, post-audit, and during VAT audits in the UAE.

Our pre- and post-audit assistance helps identify areas of non-compliance or potential risks. Based on our findings, we provide recommendations on the necessary actions to take before the FTA’s audits.

What is a VAT audit?

Wise Consultancy is a leading provider of VAT audit services in the UAE. We assist businesses in meeting VAT requirements and maintaining accurate records for all transactions. Our support extends throughout the audit process, including pre-audit, post-audit, and during VAT audits in the UAE.

Our pre- and post-audit assistance helps identify areas of non-compliance or potential risks. Based on our findings, we provide recommendations on the necessary actions to take before the FTA’s audits.

The FTA regularly reviews entities’ records and their compliance with VAT requirements to ensure adherence. If an entity is found to be non-compliant, the FTA imposes penalties and fines. These regular reviews are referred to as VAT audits in the UAE. Therefore, a UAE VAT audit involves assessing a taxable entity’s compliance with VAT regulations and ensuring all liabilities are met.

How to do VAT audits?

The FTA conducts VAT audits in the UAE through its team of tax professionals, with the authority to perform audits at any time throughout the year. During these audits, FTA tax auditors review the entity’s tax returns, documentation, and relevant VAT information. If they identify any errors, deficiencies, or inconsistencies, they will notify the entity.

The entity is then required to rectify these errors, ensure proper documentation, and achieve full VAT compliance.

FTA tax auditors may also request a re-audit to verify the corrections. Therefore, entities must settle any outstanding dues, remit payments to the government, fulfill all liabilities, and maintain accurate records.

Our VAT audit services in UAE

Our VAT audit services focus on reviewing your transactions to pinpoint significant issues in your VAT compliance. These issues may arise from recording transactions, maintaining proper accounts, or verifying activities. We conduct a thorough examination of these problems and create a VAT audit report to facilitate the FTA’s VAT audits in the UAE.

Our expert VAT audit services encompass a detailed review of:

  • Your accounting and bookkeeping records
  • VAT collection processes
  • VAT payments
  • Input tax claims
  • VAT return submissions

We analyze all your financial records and transactions subject to VAT, including both digital and physical documents of sales and purchases, as well as your accounting books. This comprehensive assessment instills confidence in the FTA regarding your business’s timely collection and remittance of VAT. With our pre-audit services, you’ll be well-prepared for official VAT audits by the FTA.

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Accounting

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Our world-class accounting solutions are more affordable and easier than you think.

Auditing

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We are approved auditors that can be counted on for all your audit requirements.

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We help set up your company the right way so it can be scaled up or down with ease.

OUR VAT SERVICES INCLUDE THE FOLLOWINGS:

VAT Solutions
VAT FAQs
VAT Returns Filing
VAT Consultants
VAT Fines
VAT De-Registration
VAT Implementation
VAT Assessment and Appeals
VAT Refund Assistance
VAT Overview

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To date we are providing Accounting Services for more than 250 clients
across the UAE in Trading, Construction, Real estate, Healthcare,
Logistics and other services.
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