Tax Audit Risk Assessment

Tax Audit Risk Assessment

A Tax Audit Risk Assessment is a proactive evaluation of a company’s tax records, filings, and compliance procedures to identify areas that may attract scrutiny from the Federal Tax Authority (FTA) or other tax regulators. This assessment helps businesses mitigate potential risks before a formal tax audit.

Key Points:

Reviews tax filings, VAT, Excise Tax, and other tax-related records.

Identifies areas of non-compliance or potential errors.

Assesses risk exposure and likelihood of regulatory audits or penalties.

Provides recommendations to strengthen tax compliance and internal controls.

Purpose:

The assessment helps businesses reduce the risk of tax disputes, fines, and penalties, ensuring compliance with UAE tax laws while preparing for potential audits.