TAX AUDIT

TAX AUDIT:

TAX AUDIT is an examination of an organization’s or individual’s returns to verify that financial information is being reported correctly. Tax Audit is being conducted by the authorities to check whether the returns and the Tax liability amount was paid within the stipulated time and the tax liability reported in the returns have been arrived by taking in account all the relevant provisions of laws.

JSR CONSULTANTS ROLES IN TAX AUDIT?

The Tax Auditor may ask the certain documents or may visit in person at the Taxable Person’s office and direct them to submit documents to the Tax authorities within stipulated time for tax audit.

The ultimate responsibility is of taxable person to be compliant at all time with the requirements of the provisions of the UAE tax laws. JSR Consultants as Tax Expert will support and guide the taxable persons on the technical matters to comply with the tax requirement so that the business will be ready at all time to face any tax audit being initiated by the regulatory authorities at any time.

HOW JSR CONSULTANTS PROCEEDS WITH VAT COMPLIANCE REVIEW?

Our review of documents, systems and procedures of a taxable person on compliance of Tax laws is known as Tax Compliance Review.

REVIEW OF ACCOUNTING AND BACK OFFICE SOFTWARE SYSTEM:

Apart from Taxation aspect Proper accounting software is the need of the time for any business. However, with the perspective of UAE VAT compliance proper accounting software is mandatory in an organization to ensure that it complies with the laws and there is no discrepancy during a tax audit by a tax auditor. We analyze whether the accounting software used in the company is capable enough to fulfill the following business needs:
1. Compliant Tax Invoice
2. Compliant Tax Credit Note
3. Proper Accounting on Reverse Charge (RCM while importing goods / services into the UAE)
4. Calculation of Output Tax
5. Recording of Input Tax
REVIEW OF OUTPUT TAX COMPLIANCE:

This review includes but not limited to:

TAX AUDIT:

TAX AUDIT:

JSR CONSULTANTS ROLES IN TAX AUDIT?

HOW JSR CONSULTANTS PROCEEDS WITH VAT COMPLIANCE REVIEW?

REVIEW OF ACCOUNTING AND BACK OFFICE SOFTWARE SYSTEM:

REVIEW OF OUTPUT TAX COMPLIANCE: