We as strongly urge to act now and execute a Pre-Audit health check of one’s books of accounts, taxable tools and VAT files. They are sending notifications to companies giving 5 days notice period for VAT Audits.
Key places to review and prepare yourself are:
- Make sure every maintained input have proper backup support record with due advice as prescribed by FTA.
- Every revenue has been accounted for accurately and according to FTA requirements and the due output, signal vat is calculated & paid timely basis.
- Ensure proper filing system is maintained for audit identification as well as reference.
It will soon be an easy ride for companies that are well prepared, have maintained proper books of account, physical filing procedure and have now been filing VAT Returns on time. We in NUF Chartered Accountant, assume that you will end up on top of your company to handle well any such query by FTA, even if you are not, please raise a flag now!
1. Host to audit will likely be taxable person office, or as per FTA requirements.
2. Tax records, files, books of accounts and statements should be readily reachable.
3. Relevant staff or your VAT Consultant/Agent has given support to the audit process.
4. Review your own VAT returns, taxable supplies, enter VAT maintained and output vat calculations.
5. Reconcile your revenue and purchases/expenses announced in VAT returns with actual books of accounts.
You get it done or employ a VAT Adviser, the target should be to perform a whole health check of one’s Novels of Accounts or conduct a Pre-Audit Review to prepare well for any VAT Audit from FTA, Click here the link to get advice punctually.
Audit Firms In Dubai
NUF has emerged as among the Top Audit firm in Dubai UAE, meeting different requirements as well as demands of its clients operating in the UAE and also worldwide markets. As its name features on the Accepted Checklist of Auditors of local banks as well as the free zones in the UAE.
How can NUF serve you?
The VAT group in NUFCA sustains services to browse the brand-new UAE tax atmosphere and also supply solutions which match their service model in addition to the sector. The group includes VAT professionals with decades of consolidated experiences. This mix offers the benefit to our customers, both local as well as international, to have the glocal approach in the service delivery. On top of that, with the “internal” experiences from a lot of our staff member, the customer can assure that our approach will certainly be extra business-oriented rather than theoretical. The range of our end-to-end VAT services is:
- VAT implementation with the people, process, and system strategy
- Business influence evaluation and its advised service
- VAT registration assistance
- Tailor-made VAT workshop per market
- Ongoing VAT Services - Calculate or evaluate the computation of VAT
- Assistance in VAT return declaring
- Tax obligation optimization.
- Ad-Hoc VAT Solutions
- Taking care of inquiries from the tax obligation authority (as a Tax Agent).