Voluntary Disclosure

Voluntary Disclosure

You might be thinking if it’s worth it to submit a voluntary VAT disclosure in the UAE. We, on the other hand, are here to assure you that it most certainly is. Why? Making a voluntary VAT report improves your position with the IRS. The FTA will impose fewer sanctions. If the disclosures were made willingly rather than the tax authority discovering the errors. More importantly, keeping your tax records up to date and precise will give you piece of mind, which is crucial because it allows you to conduct your business efficiently.

Time constraints for voluntary VAT disclosure in the UAE

  • If an error caused the taxpayer's payable tax to be less than what was needed by more than AED 10,000, the taxable person must make a voluntary disclosure of error within twenty working days of discovering the error.

  • Also, if an error resulted in the taxpayer's payable tax being AED 10,000 or less, the error must be repaired in the tax period's tax return if the error was discovered before the tax return's due date. If there is no tax return on which the error can be remedied, there is a twenty-day window for reporting the problem from the time it is discovered.

How can our professionals assist you?

Our staff can assist you with the following tasks based on their knowledge and skill in managing VAT voluntary disclosures in the UAE:

  • Examining and submitting supporting documents:

    The FTA also requires a letter that includes background information and full descriptions of all problems discovered. The letter must explain why the VAT voluntary disclosure was made, as well as the inaccuracies that were discovered. This letter, which our staff also examined and sent, will be used to help the tax authority acknowledge the request.

  • Determining the amount of tax to be paid:

    Apart from determining the tax owed, our VAT experts in the UAE can assist you with reporting any wrong amounts. That, as well as the accurate values, were given to the FTA. Both statistics must be given to the local tax office in order to alert them to any inconsistencies.

  • Penalties are settled:

    Our professionals will handle payments as well, so you won't have to bother with the FTA (if necessary). Keep in mind that a VAT voluntary disclosure may result in penalties if an error is made. This is insignificant in comparison to the fines that would be imposed on taxpayers if the FTA discovered the errors on its own, as previously stated. We can also review your penalty settlement options with you and assist you.

We know you have a lot of questions regarding UAE VAT voluntary disclosure. Please contact us right away! Our team is available to answer any questions you may have and to assist you in paying your debts and maintaining a good status with the authorities.

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We will assign a dedicated and qualified team to your entity, who will assist you in ensuring statutory compliance and providing necessary management reports.