VAT receipts and payments are significant amounts and any errors such have dual impact that is cash flow issues and regulatory issues. VAT audits from the FTA are very common across all sectors of business and non-compliance or errors are charged with hefty fines. Hence, a proper recording & planning of VAT are a must for any business to operate smoothly in terms of managing cash flows and keeping clear from the FTA.
At Outright, we do a VAT audit to ensure that the VAT inputs and outputs are appropriately recorded and are free from errors. We further help our Clients by recommending appropriate tax planning methods eliminate any inefficiencies, if any, resulting in higher input credits / lower outputs under the legal framework. With our audit, you are ready for an FTA audit anytime.