Stay FTA-compliant with BMS Auditing’s VAT health check in the UAE. Detect errors early, avoid penalties, and strengthen your VAT compliance strategy.
In the UAE, every business registered under VAT must comply strictly with the regulations set by the Federal Tax Authority (FTA). To ensure compliance, the FTA can conduct audits at any time to inspect a company’s tax records and procedures. Any discrepancies or violations may lead to substantial penalties. To avoid such risks, businesses are encouraged to conduct regular VAT health checks, and BMS Auditing provides exceptional support in this specific capacity.
What Is a VAT Health Check?
A VAT health check is a detailed, independent review of your company’s VAT processes, filings, and historical records. Conducted by VAT specialists, this assessment helps ensure that all tax-related activities align with UAE VAT laws. It is handy for identifying errors, assessing compliance levels, and recommending corrective actions well before an official audit takes place.
Why VAT Health Checks Matter in the UAE
Given the dynamic nature of tax regulations and the possibility of unintentional mistakes, a VAT health check plays a critical role in ensuring compliance.
Here are some key benefits of conducting a VAT health check courtesy of BMS Auditing:
- Early Detection of Errors: Identify and rectify issues before the FTA notices them.
- Improved VAT Control: Evaluate the effectiveness of your current VAT processes.
- FTA Audit Readiness: Prepare thoroughly with organized, accurate documentation.
- Accurate VAT Calculation: Ensure VAT is correctly charged and reported on goods and services.
- Proper Record-Keeping: Maintain all relevant VAT documents and transaction details.
- Timely Reconciliation: Match your accounts and VAT records to prevent discrepancies
- Maximize Refund Opportunities: Ensure that your input tax credits and VAT refunds are fully claimed.
- Avoid Penalties: Mitigate the risk of non-compliance and hefty fines.
Core Elements of a VAT Health Check
When you engage BMS Auditing for a VAT health check, you can expect a comprehensive review that includes:
- Assessment of VAT Records: Checking the accuracy and reconciliation of accounting and tax data.
- Review of VAT Returns: Verifying the timely submission and correctness of filed returns
- Evaluation of Financial Documents: Auditing transaction-level data for accuracy and compliance.
- FTA Portal Review: Verifying uploaded data against company records and updating discrepancies.
- VAT Invoice Validation: Ensuring that invoices meet all UAE VAT law requirements.
- Input/Output VAT Accuracy: Validating tax amounts claimed and collected.
- Strategic VAT Advice: Recommending better VAT accounting practices to strengthen compliance.
Why Your Business Should Conduct a VAT Health Check
Think of a VAT health check like a routine medical check-up — it helps you stay on track, detect any issues early, and avoid bigger problems in the future. While not mandatory, periodic VAT reviews are a smart way to gain peace of mind, especially in today’s regulatory environment.
Why Choose BMS Auditing?
We are an approved FTA Agent. With years of experience and a dedicated team of VAT specialists, BMS Auditing is one of the most trusted names in tax consultancy in the UAE. We provide tailored VAT health check services that suit the unique needs of each client, ensuring your business remains compliant and audit-ready at all times.
Reach out to BMS Auditing today to schedule your VAT health check and safeguard your business from unnecessary penalties and compliance risks.
