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FTA Audit Support in UAE

Facing an FTA audit can be a daunting experience for any business, but with the right guidance, you can navigate the process with confidence. The Federal Tax Authority (FTA) conducts audits to ensure compliance with UAE tax laws, including VAT regulations, by reviewing your business’s financial records and documents.

At HLB HAMT Management Consultancy (HHMC), we offer comprehensive FTA audit support services, ensuring that your business stays compliant, minimizes penalties, and avoids any unnecessary disruptions during the audit process.

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An FTA audit is a procedure undertaken by the Authority to inspect the business’s tax records, documents or any information, data or goods related to a Person to verify the fulfilment of its obligations in accordance with the provision of the UAE Tax Law. The purpose of this audit is to ensure that your business is following VAT laws and regulations. If your company is selected for an audit, it’s essential to have the right support to navigate the process. Our FTA Audit Support services offer comprehensive assistance, including:

Pre-Audit Preparation:

  • Review of Tax Filings: Our experts will review your VAT returns and related documentation to ensure everything is in order before the audit. Recommend any changes required based on review of VAT audit file before submitting to the FTA.
  • Document Gathering and Organization: We will assist you in collecting and organizing the required documents (e.g., invoices, financial records, contracts) to make the audit process smoother.
  • Reconciliation: We will assist you to prepare the VAT & TB reconciliation which is a mandatory requirement from FTA during the FTA audit.

Representation During the Audit:

  • Liaison with the FTA: Our team will act as your representative (in case of Tax Agency) during the FTA audit process, ensuring effective communication and facilitating the smooth exchange of information.
  • Responding to Queries: We will help respond to any queries or additional document requests from the FTA, ensuring that the audit proceeds efficiently and without unnecessary delays.

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Post-Audit Support:

  • Review of Audit Findings: After the audit is concluded, we will thoroughly review the FTA’s findings to identify any discrepancies or errors.
  • Tax Assessment Review Request: On receipt of Tax Assessment and the related Administrative Penalties from the Authority, we will assist you to submit a request to the Authority to review the Tax Assessment or part thereof and any related Administrative Penalties, if required.
  • Penalty waiver and reconsideration: If the FTA imposes any penalties or tax assessments, we will assist in submitting the reconsideration within the specified timeframe to waive or reduce the penalties imposed.
  • Tax compliance Recommendations: If necessary, we will advise you on any required tax adjustments and help rectify any issues to ensure full compliance moving forward.

Penalty Waiver Request in UAE

If your business has been issued a penalty by the FTA for non-compliance, such as late filing or payment, you may be eligible to request a penalty waiver through a Reconsideration or Penalty Waiver Request. This request must be submitted within 40 business days from the date you are notified of the decision, and it must specify valid reasons for the request. The FTA may waive or reduce penalties if specific conditions are met, including acceptable excuses and evidence of circumstances beyond your control. Our expert team at HLB HAMT Management Consultancy (HHMC) can guide you through the process, ensuring all necessary documentation is submitted correctly to maximize your chances of success.

Why Choose Our FTA Audit Support & Penalty Waiver Services?

  • Expert Knowledge of UAE VAT Laws: Our team of tax professionals has in-depth knowledge of UAE VAT regulations and the FTA audit process, ensuring the best possible outcomes for your business.
  • Tailored Support: We provide personalized support tailored to your business’s unique circumstances, helping you stay compliant and minimize the impact of penalties.
  • Proven Track Record: With years of experience in handling FTA audits and penalty waiver requests, we have a proven track record of successfully helping businesses navigate complex tax matters.
  • Cost-Effective Solutions: We work efficiently to help you avoid unnecessary fines and penalties, minimizing the financial impact on your business.

If you’re facing an FTA audit or have received a penalty for non-compliance with VAT laws, contact us today for expert advice and comprehensive support. Our team is ready to guide you through the audit process or help you submit a penalty waiver request to protect your business’s interests.

Excellence in Auditing services with HLB HAMT Management Consultancy (HHMC)!

Get in touch today: Call us or Email us. Your success is our priority!

 

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