VAT Audits

VAT audits provide a detailed review of an entity's overall VAT readiness and compliance procedures. It entails identification of major discrepancies in the VAT milieu, including transaction checking. Based on the reviews, the entity can validate their VAT treatments and properly account for all the business transactions to ensure accurate information gets submitted to the FTA. VAT audits are an effective tool to avoid double-payment of tax or the possibility of undercharging a consumer.