A corporate Tax Audit in UAE is a mandatory process to audit the tax liability, Tax compliance and financial records of companies that meet the conditions. An auditor reviews the financial statements, tax returns, and documents to identify any discrepancies or errors during the process.
In order for the governing body to determine whether a taxable organization is adhering to the corporate tax law and standards as per FTA guidelines, corporate tax audits are carried out and submitted to the government. It is mandatory for all companies to adhere to this Corporate Tax Law and Audit procedures.
The FTA investigates if the taxable companies have settled all debts and that all taxes are due to have been collected and paid to the authorities within the time limit specified through the tax audit.