Vat audit services

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    VAT Audit Assistance

    Improve your compliance and mitigate taxation risk through our VAT audit services in Dubai. VAT is short for value-added tax, a consumption tax that applies to most goods and services in the UAE. The Federal Tax Authority can conduct VAT audits at its sole discretion.

    Innovex is an experienced tax consultant in the UAE. Our expertise in VAT audit services can play a critical role in ensuring compliance and preventing regulatory issues for your company. We also provide FTA VAT audit assistance and are committed to providing efficient service to ensure that our clients are well informed and can easily meet the FTA’s auditing requirements. 

    Here, we provide detailed information on the steps for VAT auditing in the UAE, its purpose, procedure and required documents.

    VAT Audit Assistance

    A VAT audit assesses a taxpayer’s compliance with the UAE VAT legislation. It is conducted to verify that the net amounts of VAT declared and the amount paid by the taxpayer are correct.

    Innovex assists businesses with the required disclosure method under the UAE Value Added Tax. Our VAT audit helps prevent taxation risks as it allows companies to ensure their VAT compliance. It helps protect them in case of an FTA audit, examining the taxpayers’ records and VAT return filings to determine whether they are liable for VAT.

    Our VAT audit services will help you decide if your company must register for VAT. If you had a turnover of AED 375,000 or more in the last 12 months, VAT registration is mandatory.

    If your company had a  taxable income of AED 187,500 or less in the last 12 months, you cannot register for VAT unless you are expecting to breach this threshold in the next 30 days. In fact, if you are VAT-registered but your past 12-month-turnover is at or below this threshold, your company must be deregistered or removed from the register of companies in the UAE that are eligible to pay VAT.

    If your company has a turnover of more than AED 187,500 but less than AED 375,000, VAT registration is optional.

    Our VAT audit can include a comprehensive examination of the company account to identify sales flow, purchase rate, and compatibility. It may evaluate and assess all of the company’s financial documents and bank statements.

    In case of an FTA VAT audit in Dubai, the government agency will request the documentation in both hard copy and soft form. It will examine acquisition and payment invoices, accounting books, and VAT reports filed. The FTA conducts this type of audit to:

    The FTA VAT Audit Procedure

    Here’s what you can expect when the FTA declares a VAT audit on a company.

    • The FTA will assign a tax auditor to the case.
    • The FTA tax auditor will examine your tax returns and financial data.
    • The FTA has full authority to declare a VAT audit at any time.
    • Companies may obtain FTA VAT Audit assistance from a registered tax agent like Innovex to guarantee compliance.
    • UAE law requires that a company, its tax agent, and its legal advisor extend all help and their full cooperation to the FTA tax auditor to ensure a smooth audit.
    • A re-audit may be requested if the FTA tax auditor discovers any flaws.

    Basic Documents Required in a VAT Audit

    In a VAT audit, you will need to provide the following documents:

    • Documentation for all supplies and imports of goods and services
    • Purchase invoices, tax invoices, and other associated paperwork
    • Tax credit notes
    • Records of goods and services that have been disposed of or utilized for non-business purposes and the taxes paid on them
    • Records of goods and services purchased in Dubai, UAE, for which no tax rate was recorded
    • Acquisition records for fixed and capital assets and the amount of input VAT claimed — adjustments or modifications to accounts or tax invoices
    • Details on goods brought into the state and customs declarations and invoices from suppliers
    • Export documentation of goods and services
    • Other papers on the receipt of different services and goods
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    Factors to Consider During a VAT Audit in the UAE

    During a VAT audit, taxable enterprises must ensure their records are in order. Here are some of the factors examined during a VAT audit in Dubai.

    Penalties related to VAT:

    The Benefits of Obtaining VAT Audit Services in Dubai

    Get VAT Audit Services and Assistance

    Innovex Tax Consultant Co. delivers accurate, credible and high-quality VAT audit services in Dubai and other parts of the UAE. We can perform third-party VAT audit checks on your company to mitigate your taxation risks and strengthen your internal controls. We can also serve as your tax agent and provide FTA VAT audit assistance as needed.