VAT Health Check
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Business Bay: Floor 21, Binary Tower by Omniyat, Marasi Drive - Dubai
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+971 52 216 2624
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info@zlsca.com
VAT Health Check
ZLS Chartered Accountant and Advisory team possesses extensive knowledge of the UAE VAT law provisions and boasts significant experience across various industries, catering to large corporations and MSMEs. This expertise enables us to conduct comprehensive VAT Health Checks in the UAE, encompassing a thorough review of all aspects, emphasizing areas that may attract attention from the FTA (Federal Tax Authority). We aim to identify errors, offer corrective measures, and streamline the documentation process to ensure our clients are well-prepared for potential tax audits.
We are Always Ready to Assist Our Clients
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Why VAT Health Check?
Ensuring accurate and full compliance with UAE VAT laws and corresponding Executive Regulations is crucial for all tax registrants. The Federal Tax Authority (FTA) holds the authority to conduct audits on any tax registrant to verify adherence to VAT laws and regulations.
To achieve compliance and minimize the risk of errors in the future, every registrant should perform a Tax Health Check. This process helps identify areas that require more attention and strengthens compliance and control measures.
A comprehensive Tax Health Check focuses on pinpointing critical areas needing improvement. It also involves devising corrective actions to address non-compliance issues and prevent recurrence. By conducting such a check, registrants can enhance their compliance with VAT laws and regulations.
Regarding FTA audits, tax registrants cannot predict the specific scrutiny areas or the review’s extent. Therefore, the best proactive approach is to be prepared by conducting a Tax Health Check. This will help ensure all compliance requirements are met, and effective controls are in place to promptly identify and address potential non-compliance issues.
In conclusion, maintaining VAT compliance is essential for all businesses, and a thorough Tax Health Check can play a significant role in improving compliance, mitigating risks, and preparing for potential FTA audits.
What We Can Offer?
Key aspects examined during the health check include:
- Reviewing sales and purchase invoices.
- Import and export reporting.
- Documentation practices.
- Ensuring sales are accurately reported in the appropriate boxes on the VAT return.