Failure to comply with tax audit to result in hefty fines, tax experts warn rohma@khaleejtimes.com Filed on April 7, 2021
Under the Self-Assessment System of VAT returns filing, the onus is clearly placed on taxpayers and businesses have to interpret and apply the tax legislation correctly
Organisations across the UAE which fail to comply with the rules in place regarding the tax audits conducted by the Federal Tax Authority (FTA) will be liable to pay hefty fines, experts warned at a webinar on Wednesday.
Presented by Khaleej Times & MBG Corporate Services, the event sought to bring clarity to some of the key issues regarding tax audits, and brought together key experts in the field to share their insights.