Tax Audit service in Dubai
Tax Audit service in Dubai is one of the compliance checks to confirm a person. VAT liability is correct by way of examining various data which are maintain by the taxpayer.
It is fundamentally a government’s assessment of a company. about their responsibility as a taxable entity. The government also assesses a company. whether they are following definite responsibilities that apply to their business as per the tax laws (VAT Law, Excise Tax Law, etc.).
This kind of audit is conduct by the FTA to ensure that every responsibility. This is paid and every tax due is collect and given. the government within the timeframe given.
This may be Carrie out at the taxable person. business premises or in the offices of the FTA. Normally, prior notification of an audit will be given to the taxpayer.
Tax Audit service in Dubai procedure
The FTA authorities will check the back and other details. There need not be a particular reason for the FTA to conduct an audit of a company. They can performance it for any cause or whenever they want. A notice will be issue to the company. at least five days prior the schedule audit date. It will contain details, such as the audit schedule, location. involve parties, reason (if anything specific), etc. The auditor/s and the company will meet place at the schedule time. the action will begin. The auditor may ask for business documentation. in original and/or copies, and take samples of merchandise. and other assets as available at the place at the time.
Why is important?
The Tax Audit service in Dubai is need to during the official FTA working hours. until the Director-General decides to conduct. the audit of a business outside regular hours, in an unusual case. along with their legal spokesperson and tax agents, are require to give full assistance. to the auditors performing their task. If anything, doubtful is found in the result of the audit that might collision. the tax return, the authority may order a re-audit for more analysis. The audit person has the right to ask for. the informing copy and same documentation and be present during. the auditing procedures that are conduct outside of the official places.
All the VAT register occupations will not be audit. and also there is no fixe frequency in which the From time to time, the FTA will select the businesses who are needs to be audit. The decision to audit the businesses totally is at FTA’s discretion. The following are some of the factors which are consider. in choose the business for Tax Audit financial Audit service in Dubai .