A tax audit is conducted by the Federal Tax Authority (“FTA” or the “Authority”) in the UAE. This involves examination of the entity’s financial data, accounting records, and Tax return filings. The tax period is selected by the FTA based on its discretion.
The purpose of the tax audit is to verify that the taxpayer has accurately assessed and reported their tax liability, complied with relevant laws and regulations, and fulfilled other obligations, including documentary compliance.
The Authority requests a detailed set of information, and in order to prepare for a potential audit, businesses in the UAE should ensure that they can respond to those queries within a very short period of time.
The businesses need to ensure that the tax positions are correctly determined, there’s a readily available reconciliation between financial records and tax filings, and the underlying documents for transactions comply with the requirements of UAE Tax Laws.
As part of our tax advisory services, we can assist in:
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Partner
Alex is a Chartered Accountant with more than 30 years of significant experience in professional services and Industry. He has considerable experience in finance and related digital transformation. He has been a Partner in a Big 4 Audit and Consulting Firm, and has built a regional consulting model and handled multiple large-scale transformation and change management engagements with top tier entities. He is experienced in strategy, business plans, finance transformation, and operational improvement for medium to large-size engagements in the region. He has headed teams in these large transformations, providing strategic and operational leadership.
Director
Sumeet has over 19 years of extensive experience across diverse industries that span contracting, oil-field services, real estate, retail and manufacturing.
He has worked in a Big 4 Audit and Consulting Firm and his key role at Aswaar include working on financial modeling, due diligence, reviewing existing organization structure and policies and procedures, identifying gaps and recommending internal controls to the management for multiple clients.
Director
Rakshita has over 15 years of extensive experience in managing business operations and processes. A successful key player in Senior Management. Her key role at Aswaar includes managing the Business Process Outsourcing and Support Services Division, handling client relations, and devising solutions.
Business Development Consultant
Amal Has over 20 years of experience in business development and process management, Amal has mastered the art of executing specialised tasks, leading teams, and nurturing strong client relationships. In her pivotal role at Aswaar, she serves as the Business Development Consultant, specialising in account management and strategic planning.