Vat Health Check in UAE
About Us
Alliance CA offers specialized VAT health check services in Dubai, ensuring businesses are fully compliant with the UAE's Value-Added Tax (VAT) regulations as governed by the Federal Tax Authority (FTA). Recognizing the comprehensive impact of VAT across all aspects of a company, we tailor our approach to the unique needs of each business, considering their size and sector-specific challenges.
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What is a VAT health check in UAE?
The onus of determining whether or not everything is in accordance with the FTA's policies and guidelines rests squarely on the shoulders of the taxpayer. A VAT health check in UAE is a form of VAT audit that consists of evaluating and analysing previously submitted VAT returns and VAT reimbursements in order to discover potential problems and hazards associated with the VAT.
With the help of the VAT health check, a company is able to detect any errors that may have been made in the VAT and make the necessary adjustments before the FTA issues a penalty. When it comes to dealing with VAT, it is the obligation of businesses to follow the laws and guidelines established by the FTA.
Officials from the FTA are going around to various businesses in the UAE to perform VAT audits on a routine basis. If the auditors of the FTA discover an inaccuracy or miscalculation in your VAT, they will penalise your company with additional VAT fees.
Why Choose
Alliance CA
Alliance CA VAT health check in UAE includes the following:
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Conduct an audit of your company's internal financial statements, paperwork, VAT registers, and so on.
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Conduct a thorough examination of your previously submitted tax returns to locate any ambiguous areas in which you invariably make mistakes.
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Determine whether the values that were returned in accordance with the VAT paperwork are consistent with the financial data.
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Conduct an investigation into whether or not you are making use of the VAT legislation in order to acquire appropriate credits or refunds for your company, and determine whether or not these are being claimed in the relevant returns.
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Determine the areas in which you have the ability to plan for an appropriate VAT planning
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Conduct a checkup on the upkeep of your VAT files' accounting and recordkeeping, as well as the audit trail.
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What are the audit requirements in Dubai, UAE?UAE Commercial Companies LAW / Federal Law No. 2 of 2015 requires all organizations operating within the United Arab Emirates to hire UAE-approved chartered accounting firms that are registered with and have been issued licenses from the Ministry of Economy for auditing their accounts. Furthermore, professional Auditing companies in Dubai are essential for organizations to ensure that their business complies with the laws, rules, and regulations, and the accounting standards applicable in the UAE.
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Is Auditing Mandatory in Dubai?Yes, following the UAE Commercial Companies LAW / Federal Law No. 2 of 2015 all organizations operating within the United Arab Emirates are required to hire UAE-approved chartered accounting firms that are registered with and have been issued licenses from the Ministry of Economy for auditing their accounts.
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What are the risks involved with auditing companies in the UAE?Auditing firms in the UAE have to be careful of the risks and probabilities of Substantial Misrepresentation while conducting audits.