Businesses in the UAE need to prepare for the Federal Tax Authority’s (FTA) scrutiny as the mandatory tax audits of 2024 get nearby. VAT laws and regulations must be followed since the Free Trade Area has the legal authority to carry out tax audits to verify compliance with pertinent provisions. Despite the common misperception, completing a VAT return does not mean compliance is complete; instead, it is merely the first step in getting ready for a tax audit. This article presents us with an overview of the FTA Tax Audit and requirements for the same
Source: nrdoshi.ae
