A tax audit is an official review carried out by the Federal Tax Authority (FTA) to examine a company’s financial statements, tax returns, and supporting documentation. The purpose of the audit is to ensure that the company has accurately paid all applicable taxes and adhered to the prescribed filing procedures. At Audit Firms in Dubai, we provide expert assistance in preparing businesses for FTA tax audits. Our professional auditors meticulously organize your financial records to ensure full compliance and audit readiness.
The FTA examines the following in a tax audit:
- VAT returns and supporting invoices
- Corporate tax returns and accounts documentation
- Purchase and sales invoices
- Payroll documents and suppliers’ invoices
- Other supporting financial documents for reported amounts
Why a Tax Audit is Important for Business
A tax audit in the UAE is essential because:
Prevent fines: Errors or non-compliance with tax returns can result in FTA penalties.
Maintain transparency: An audit ensures your records are correct and up to par.
Maintain reputation: Businesses that breeze through audits gain the confidence of banks, partners, and the authorities.
Identify financial risks: Audits typically highlight inherent errors or inefficiencies in your tax reporting.
Being FTA audit-ready is proof that your business is well-managed and UAE tax-compliant.
When Does the FTA Conduct a Tax Audit?
FTA is entitled to conduct a tax audit at any point within five years of the end of a tax period. Audits may be triggered by:
- Irregularities in tax returns filing
- Late or incorrect VAT or corporation tax returns
- Unanticipated changes in reported income
- Random selection by the FTA
How We Help You Prepare for a Tax Audit
Audit Firms in Dubai help businesses at every stage of the auditing process. Our tax audit services are designed with the objective of total compliance and peace of mind.
- Pre-Audit Review
We audit your accounts, VAT returns, and corporation tax returns to find out discrepancies or missing information before the FTA.
- FTA Compliance Check
Our experts compare your tax payments, returns, and calculations with the latest FTA regulations and UAE Tax Law.
- Document Preparation
We are ready and have organized all the documentation from invoices and ledgers to VAT returns for simple presentation during the audit.
- Audit Representation
In the event of an audit from the FTA, our qualified tax specialists represent your company, handle communications, and answer any questions on your behalf.
- Post-Audit Support
We assist with addressing any audit findings and recommend corrective measures to enhance your future compliance.
Why Select Audit Companies in Dubai?
Businesses in the UAE trust us because:
- FTA-recognized auditors with years of experience
- Detailed understanding of UAE taxation laws
- Pre- and post-audit support that’s thorough
- VAT and corporate tax guidance tailored to your needs
- Professional and confidential service
Seek the Expert Services of Top Audit Firms
To seamlessly meet audit requirements and ensure compliance with audit regulations, businesses are advised to seek the expert services of top Audit Firms in the UAE. Contact us today, and we shall be glad to assist you.
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A tax audit is the FTA's official examination to ensure a business has correctly reported and paid its VAT, corporate, and other applicable taxes.
The FTA can audit a business at any time within five years from the end of a tax period. Some audits by the FTA are based on risk, while others are random.
You must have financial reports, VAT returns, invoices, receipts, supplier records, and all supporting records for reported transactions available.
The FTA can impose penalties, ask for rectifying filings, or re-determine your tax liability. Severe offenses can lead to legal proceedings.
Our tax professionals manage documentation, represent you in front of the FTA, and guarantee your business is fully compliant with all requirements, reducing risks and penalties.