Get ready for official tax audits
Tax Audit
In the UAE and Saudi Arabia, next year there will be a lot of full-scale tax audit activity undertaken on businesses. Now that regulations are in place, taxpayers are expected to prepare for audits by the UAE’s Federal Tax Authority and Saudi Arabia’s General Authority of Zakat and Tax next year. It is an exercise that will test their resources. It will test the accuracy of Book Keeping as well as the filing of VAT returns. Now the best VAT consultancy services are required by most of the small and medium level companies in UAE.
These businesses need to prepare themselves to be able to completely justify all of their
- data,
- numbers
- statements,
- payments
- invoices
- record-keeping,
- and all various other aspects of their VAT compliance
that will come under increased scrutiny by the authorities as we go into the second year of operation.
In the UAE and Saudi Arabia, next year there will be a lot of full-scale tax audit activity undertaken on businesses. The authorities will be launching audit activity while there are some areas with un clarified rules, so they won’t know how to enforce them. The pressure falls on the authorities to resolve any unsettled, non-clarified or disputed areas of interpretation. They need those clarified. So that auditors can do their job and taxpayers need that to make sure they are fully compliant.
Why HAAB Accounting Consultancy
As one of the best VAT and Accounting Consultancy services provider in the UAE, we can assist with any VAT Filling related issues in UAE you may come across. Whether you are an independent accountant, a charity or not for profit organization, or a business owner keen to find out more about how making the right decisions can benefit the financial health of your company. We are providing VAT consultation Services for small and medium-sized companies in UAE and India.
Feel free to contact us for VAT Consultancy and accounting services, to get ready for VAT filing & VAT. Also, we can assist you with other accounting services as well as bookkeeping services as we are the best virtual accounting service provider in the UAE.