VAT Audit

Mon - Sat:	09:00 - 06:00

VAT Audit Service in the UAE

A VAT audit in the UAE is a thorough examination conducted by the Federal Tax Authority (FTA) to ensure that businesses comply with VAT regulations, accurately report taxable transactions, and fulfill their tax obligations. This process is critical for maintaining compliance and avoiding potential penalties. Here’s a detailed overview of VAT audits in the UAE, including the procedure, required documents, key considerations, and how Mantraa Advisory Service can assist you.

VAT Audit Procedure

Initiation of Audit

The FTA has the authority to conduct VAT audits at any time and for any reason, as stipulated by the Tax Procedures Law. The audit may be initiated based on routine checks, specific concerns, or discrepancies in VAT returns

Document Review

FTA tax auditors will review the company's VAT returns and supporting documentation to ensure accuracy and compliance.

Assistance Requirement

During the audit, the company, its legal advisors, and tax agents must provide full cooperation to the FTA auditors. If anomalies or questionable facts are discovered, the auditors may request a re-audit or additional documentation.

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Documents Required for VAT Audit

To facilitate a smooth VAT audit, ensure that the following documents are readily available:

Receipted Tax Credit Notes

All tax credit notes and related documentation.

Tax Invoices

Copies of all issued tax invoices and associated documentation.

Records of Purchases

Documentation of goods and services purchased where input tax was not deducted.

Export Records

Details of exported goods and services.

Modified Accounts

Review and Submit: Review the completed form for accuracy, then submit your VAT registration application.

Customs Declarations

Documents related to imported goods, including customs declarations and supplier invoices.

Supply and Import Documentation

Complete records of all supplies and imports.

Receipts of Goods and Services

Tax invoices and other documents related to the receipt of goods and services.

Factors to Consider During VAT Audit

Understanding the key components that auditors focus on can help ensure a smoother audit process:

Evaluation of VAT Returns:
- Auditors will compare the VAT returns filed with your accounting records to verify accuracy.
Evaluation of Input Tax:
- The auditors will scrutinize input tax claims to ensure that blocked inputs or non-recoverable tax is appropriately accounted for.
Evaluation of Output Taxes:
- Ensures that zero-rated, exempted, and standard-rated taxes are calculated in accordance with UAE VAT legislation.
Accounting System & Software:
- The auditors will assess your accounting software to ensure it complies with UAE VAT Law and is up-to-date. Proper accounting software helps minimize errors and discrepancies in VAT reporting.

How Mantraa Advisory Service Can Assist ?

Navigating a VAT audit can be complex. Mantraa Advisory Service offers expert support to ensure compliance and smoothen the audit process:

Expert Guidance: Our team provides expert advice on VAT compliance and audit preparation.
Document Preparation: We help you organize and prepare all necessary documents for the audit.
Audit Support: We offer support during the audit process, including liaising with FTA auditors and addressing any issues that arise.
Compliance Assurance: We ensure that your accounting systems and VAT returns are accurate and in compliance with UAE regulations.
Post-Audit Services: If discrepancies or issues are identified, we provide guidance on rectifying them and addressing any penalties or corrective actions.

Partner with Mantraa Advisory Service to streamline your VAT audit process and ensure adherence to UAE VAT laws. Our expertise and comprehensive services will help you navigate the audit efficiently and mitigate any potential risks.

For more information on how Mantraa Advisory Service can assist with your VAT audit or to schedule a consultation, please contact us today. We’re here to support you every step of the way!

Get In Touch

For more information on how Mantraa Advisory Service can assist with your VAT audit or to schedule a consultation, please contact us today. We’re here to support you every step of the way!

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