Our VAT audit services, available in UAE offer a comprehensive and meticulous examination of an entity’s VAT accounting and VAT return filing. It’s crucial for all VAT-registered businesses to be well-prepared for VAT audits, as these audits assess VAT liability by scrutinizing accounting records, bookkeeping practices, and VAT return submissions.
We’ve observed a growing interest from Tax Authorities in conducting audits and inspections on companies. Many businesses have faced penalties and assessments due to simple system errors or processing mistakes that could have been easily prevented.
VAT Audit Procedure
A VAT audit is essentially the government’s examination of a company’s tax responsibilities. Tax Authorities conduct these audits to ensure all obligations are met and taxes are collected and remitted within the stipulated time frame.
We have developed a comprehensive approach and methodology to review post-implementation compliance, identifying and rectifying errors and issues. If you haven’t considered a review after implementing VAT, we strongly recommend such an exercise to validate your compliance status.
Documents Required for VAT Audit
To facilitate a VAT audit, you’ll need to provide the following documents:
- Receipted tax credit notes and related documentation.
- Tax invoices and supporting documentation issued by your business.
- Records of purchases for which input tax was not deducted.
- Export records for goods and services.
- Documentation related to accounts or tax invoices with modifications or corrections.
- Details of imported goods, including customs declarations and supplier invoices.
- Comprehensive documentation for all supplies and imports.
- Tax invoices and other relevant documents regarding the receipt of goods and services.
- Key Elements Covered During VAT Audit
During a VAT audit in the UAE, Tax Authorities focus on key elements that businesses may overlook. These elements include:
- Evaluation of VAT returns.
- Assessment of input tax.
- Scrutiny of output taxes.
- Examination of accounting systems and software.
- Al Marzaan Consultancy’s VAT Audit Services
By choosing Al Marzaan Consultancy, you join a diverse list of industries who have greatly benefited from our efficient services. Your information is treated with the utmost security, and we provide unwavering support every step of the way.
We cover all aspects of VAT and offer top-notch services to help businesses steer clear of VAT fines and penalties by guiding them toward compliance. Our VAT services encompass VAT registration, VAT return filing, VAT accounting, VAT audit, VAT refund, and VAT deregistration. Our professional and highly experienced VAT auditors ensure compliance and provide the best VAT audit services in the industry.
