Essential Guide to FTA Audits in the UAE: Compliance, Triggers, and Preparation Steps

• FTA audits in the UAE focus on compliance with VAT, corporate tax, and zakat, triggered by discrepancies, unusual claims, and risk indicators.
• The FTA has broad audit powers, including on-site and remote audits, with standard, routine, and no-notice procedures.
• Businesses must maintain extensive records for up to 15 years and comply with strict documentation requirements.
• Penalties for non-compliance include fines for late filings and significant charges for record violations.
• Preparation involves conducting mock audits, maintaining clear and consistent documentation, and understanding taxpayer rights during audits.

Source: fiscal-requirements.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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