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A E Y Accounting LLC Services
VAT Audit
VAT audit examines your business records and book of accounts. It is an evaluation by the FTA to determine whether an entity or a firm possesses the risk. In UAE, the representatives of the Federal Tax Authority usually conduct a tax audit. In addition, we help companies in the VAT process, following the VAT law, compliances, rules, and refund conditions. It will verify the liability of VAT through evaluating things below:
- First, the accounting and bookkeeping records.
- Second, VAT return filling
The taxpayer maintains the above. - VAT audit includes analyzing and reviewing all the firm’s financial records with its bank statement. FTA will demand documents in soft copy and hard copy. Further, FTA will explore the sales coupled with purchase invoices. Therefore, it checks the books of accounts with the VAT return submitted to FTA.
Choosing a firm for a tax audit lies entirely with the decision of FTA. We can consider specific factors before selecting a business for a VAT audit, that is below: - Large-scale businesses
- History of late tax submission
- The happening of incorrect tax filings
- The complexity of business
Documents required for VAT audit in Dubai?
In Dubai, VAT audit demands particular documents, and these are detailed below:
- First, records of all supplies and Imports of Goods and Services.
- Second, tax Invoices and alternative documents related to purchases.
- Tax Invoices issued. Third, they receive and
give tax Credit Notes. - In addition, records of Goods and services have been disposed of or used for matters unrelated to business. These records must show Taxes paid for the same.
- Records of purchased Goods and Services: Because of this, Dubai does not deduct input tax.
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- Records of exported Goods and Services
- Further, records of adjustments or corrections made to accounts or Tax Invoices in Abu Dhabi, the UAE
- Details of Goods imported to the state and Customs declarations and Supplier Invoices
- In addition, records of fixed assets or capital assets purchased. It also shows the amount of input VAT claimed.
Importance of VAT Audit in Dubai
It cannot deny its significance because it is an effective way to improve the operational structure. In addition, it enhances the strength of a company. For this reason, it is suitable for your business to have a detailed tax audit review. Do you want to prevent your company from failing under the prospect of non-compliance with VAT tax law in Dubai?
A VAT audit in Dubai mainly targets identifying and removing disparities in tax policies. According to UAE tax laws, it also targets your company’s procedures and business operations. VAT professionals in AEY Auditing simplify the process, ensuring law compliance.
Services delivered:
We assure effective VAT services in Dubai in below criteria:
- Assuring VAT law accomplishment
- VAT application for transactions of cross-border
- Services that increase the procedure and application of recovery rates of VAT
- Among the best VAT accounting services in Dubai.
- Above all, implement correct and authentic VAT rates.
Let us deal with your VAT expectations and save your business from unrequired fines. We are delivering a VAT health check to assure compliance with VAT. Further, our company highly recommends conducting a VAT health check at least twice a year. Hence, it can guarantee that your business complies with the latest tax regulations and compliances. Moreover, A E Y Accounting LLC provides the best services that are precisely following the standards of FTA. As a result, you will get comprehensive insurance to be in line with the laws and regulations of FTA.
A E Y Accounting LLC
A E Y accounting is offering effective accounting services in Dubai and Advisory services implicating financial record maintenance and customer support.
Services
Services
Location
Office 207, Saheel Tower 1, Al Nahda 1, Dubai, UAE
Business Hours
Monday - Friday: 9AM - 6PM