+971 4 4542366 +971 554413566

Flyingcolour logo Flyingcolour logo2

  • Home
  • UAE Company Setup ›

    Business Setup Overview

    • Business Setup Overview of UAE
    • Educate yourself about Jurisdictions in UAE

    Mainland Business Setup

    • UAE Mainland Overview
    • Mainland Professional Company
    • Mainland Limited Liability Company
    • Mainland Industrial Company
    • Mainland Branch/ Representative for Foreign Company
    • Mainland GCC Owned Company

    UAE Mainland

    • Dubai Mainland
      Dubai Mainland Business Setup Overview Business Setup Al Barsha & Tcom Business Setup Al Quoz & DIP Business Setup Al Qusais Business Setup Bur Dubai Business Setup Business Bay Dubai Business Setup Deira Dubai
      Business Setup Downtown Dubai Business Setup Dubai Marina & JBR Business Setup Dubai Media City Business Setup International City Business Setup New Dubai Business Setup Sheikh Zayed Road Business Setup Jumeirah Beach Road & Al Wasal Road
    • Abu Dhabi Mainland
    • Ajman Mainland
    • Sharjah Mainland

    UAE Freezone

    • Freezone Business Setup Overview
    • Dubai Freezone
    • Abu Dhabi Freezone
    • Ajman Freezone
    • Sharjah Freezone
    • Ras al Khaimah Freezone
    • Umm al Quwain Freezone
    • Fujairah Freezone

    UAE Offshore

    • Offshore Business Setup Overview
    • Dubai Offshore
    • Ajman Offshore
    • RAK ICC Offshore
  • Taxation ›

    Taxation

    Expert taxation and financial management solutions

    VAT Services

    Business Accounting Services

    Financial Forecast & Projection

    Book-keeping Services

    Accounts Payable

    CFO Services

    Inventory Verification Service

    Tax Residency Certificate in UAE

    Payroll Management

    Month End Financial

  • PRO Services ›

    PRO Services

    Professional support for all your business needs

    PRO Business Services Overview

    PRO Services

    MEA & MOFA Attestation

    Golden Visa

    Property Visa

    DUBAI Customs Registration

    Assistance in Bank Account Opening in UAE

  • DIFC Formation ›

    DIFC Formation

    Pioneering Excellence in Financial Foundations.

    Overview

    DIFC Foundation

    DIFC Prescribed Company

  • Blogs ›
    • Categories
    • Industries

    About Business

    Building & Engineering

    Educational Activities

    Financial Activities

    Gas & Energy

    Heavy Industries

    Light Industry

    Medical

    Nutrition & Food

    Personal Household

    Print & Media

    Real Estate

    Sports

    Activity Group: Transport

    Various Activities

    Business Setup

    Company Formation

    Dubai Business Laws

    Entertainment & Related

    Freezone Company Formation

    Offshore Formation

    Research Article

    UAE Business News

    Accounting & Bookkeeping

    Business Setup Dubai

    Cloth Pressing Business

    Construction

    Crypto Business

    Decoration Design Business

    Dry Cleaning Business

    Education

    Energy and Mining

    IT

    Financial Services

    Fintech

    Healthcare

    Healthcare Industry

    Hotel and Hospitality

    Home Based Business

    Manufacturing

    Media and Entertainment

    Online Business

    Real Estates

    Restaurant and Cafe

    Shipping

    Telecommunication

    Trading

    Transport

    Travel and Tourism

    Utilities

    Yoga Centre

  • Contact
Calculate Your Business Setup Cost in UAE

What businesses need to do to survive VAT audit in UAE?

  • Home
  • Blog
  • What businesses need to do to survive VAT audit in UAE?
  • Sun 25 Nov 2018 | By : Flyingcolour
blog-post-image

What are the VAT / Tax Audit?

VAT / TAX Audit is an examination of risk of an assess able individual or Company by the Federal Tax Authority. Audit is led by the specialist to check whether the expense risk is paid within the due date and whether such liabilities are legitimately touched base according to the arrangements of the significant laws, for example, UAE VAT law, UAE Excise Tax law, and so on.

Business can survive VAT Audit by following below procedures and reviews:

Process Review - Accounting & Documentation

With the introduction of VAT since 01st Jan 2018, all taxable persons are required to maintain complete set of accounts and documents as prescribed in law and to keep the same for next 5 years. Business must do Accounting & documentation process review to ensure that there is no irregularity in recorded transactions and related documents.

Review of compliance and calculation of output and input VAT

There are various provisions under VAT law which governs calculation and reporting of output and input VAT, to check accuracy of VAT calculations and reporting business must conduct periodic reviews to ensure correct calculation and reporting of VAT.

Review of Submitted VAT return and identification of need to submit voluntary disclosure (if any)

There is a misconception that filing of VAT return is the last step of a tax period although it is the first step towards VAT audit. Businesses should review their already filed VAT returns and make sure that all supporting documents are available with them for upcoming VAT audit. Also businesses should file a voluntary disclosure on identification of errors or mistakes subsequent to VAT filing as penalties are very stiff if such error identified during VAT audit conducted by Federal Tax Authority.

Review of VAT payment, refund and penalties

Businesses should be aware of VAT payment & refund procedures, due dates of VAT payment and consequences of non-compliance’s. In any part of the world, payment towards government dues is very sensitive. Business should take care of the same and must conduct periodic reviews of VAT payments, refunds and penalties. Review of VAT registration status for amendments / deregistration: As per VAT law tax registrants should inform or apply for amendment or deregistration within 20 business days from the date of the occurrence of any changes past registration to avoid penalties and further consequences. Businesses should conduct periodic review of VAT registration status and apply for amendments (if any) within time frame for smooth business operations and VAT filings. Flying Colour Tax Consultants competent team could assist you in: •VAT Registration, VAT Group Registrations, deregistration and amendments. •Registration under tourist VAT refund scheme. •Review of complete procedure and compliance related to VAT. •Assistance in selection of VAT compliant Accounting Software. •Timely and Correct Submission of VAT Tax Return (Form VAT201). •Timely and Correct Submission of VAT Tax Refunds (Form VAT311). •Assistance in preparation of FTA compliant Books of Accounts. •Assistance in FTA compliant Record Keeping, Documentation and Audit File and many more. This blog post is written by Mr. Dilip. Feel free to call our Tax Advisor today for a quality consultation relating your VAT related queries. Please send inquiry to info@flyingcolour.com or call us +971 4 4542366.

Leave a reply

  • flyingcolourbs
  • 3000+ Real Customer Reviews on Google.

  • Click here to Read.

Recent Posts

Get A Kiosk License in Dubai
Wed 04 Jun 2025
Start A Trading Company in Dubai Mainland
Fri 30 May 2025

Contact Us

Our Success

Our Success lies in honestly and integrity which are used as motivational factors to inspire us to arrive at success as well as prosperity for the company plus our customers.

18,000

+

Global Clients

20

+

Years of Experience

175

+

Team of Professional

High Tech


Real Time Support

Ready to take it a step further?

You can schedule a free call with our expert consultants

Do you have questions or want more information ?

Phone : +971 4 4542366

Mobile or Whatsapp : +971 554413566

Email : info@flyingcolour.com

Keep connected

Get updates by subscribe our newsletter

About Us
  • We are a leading consulting firm providing Company formation, Accounting & VAT and immigration services located in Dubai - UAE ...Read more
  • flyingcolourbs
  • 3000+ Real Customer Reviews on Google.
  • Click here to Read.
Popular Services
  • Jebel Ali Offshore Company Setup
  • Business Setup in Dubai Free zones
  • Limited Liability Company
  • Professional Company Setup
  • Bank Account Opening in Dubai
  • Offshore Company Formation
  • Dubai Mainland Company Setup
  • Trade License
  • Miscellaneous
  • Flyingcolour® Careers
Quick Links
  • Mainland Company Formation
  • Free Zone Company Formation
  • Offshore Company Formation
  • VAT Registration & Return Filing
  • Economic Activity Guide for UAE
  • VAT Consultancy Services
  • Customer Grievance Policy
  • Terms and Conditions
  • Privacy Policy
Contact
  • Head Office:
  • Office No.2608,2609 & 2610
  • Concord Tower Opposite Palm Jumeirah Dubai Media City,
  • Dubai. UAE.
  • DIFC Office:
  • Unit GV-00-04-03-BC-44, Level 3,
  • Gate Village Building 04, PO Box 84059,
  • Dubai. UAE.
  • payment

©2004 - 2025 Flyingcolour® . All rights reserved