FTA audits are performed in the UAE to ensure that firms are following tax rules and regulations, such as VAT (Value Added Tax) and Excise Tax. These audits might be performed at random or when the FTA detects non-compliance or fraudulent activities.

The authority will check the company’s records, financial statements, and other necessary documents during an FTA audit to confirm that taxes have been correctly computed, declared, and paid. If there are any disparities or non-compliance issues, the corporation may be obliged to pay additional taxes, penalties, and interest.

An FTA audit can be a time-consuming and complex process that requires a high level of expertise in UAE tax laws and regulations. If your business is not fully compliant, you may be subject to penalties and fines, which can be costly and damaging to your reputation.

Get your first consultation for free and help your business to minimize risk exposure and prepare for an FTA audit.