Businesses must prepare for official FTA audits in 2022

Wam file photo
Wam file photo

January 2022 marks four years since the value-added tax (VAT) was implemented in the UAE.



by

A Staff Reporter

Published: Tue 25 Jan 2022, 5:55 PM

MBG Corporate Services UAE and Khaleej Times are organising a webinar titled, ‘Changing Landscape of Tax Compliances & Audit frameworks in UAE’ on January 26, 2022.

January 2022 marks four years since the value-added tax (VAT) was implemented in the UAE. The Federal Tax Authority (FTA) is increasingly introducing measures that affect how companies should manage and deal with their data and maintain their records.

MBG recommends that businesses must prepare for official FTA audits in 2022, as there is no need for a specific reason for the FTA to conduct an audit of a company. It can happen whenever the FTA decides to with a five days issued notice.

Hosted and moderated by Sandhya D’Mello, senior business reporter at Khaleej Times, the webinar will have experts from MBG Corporate Services — Vipin Ahuja, associate partner; Deepak Variyan; associate director ; and Laila Aziki, tax agent. The panel will focus on topics like recent tax legislative changes; tax audit framework; probable factors for tax audit selection; FTA tax audit process; common mistakes in VAT return filing & VD submission; significant Impact of administrative Penalties (before & after audit); and analysis before commencing the tax Audit by the FTA; and appeal process.

— business@khaleejtimes.com


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