Group Tax Session - June 2024

Which of the following option is not a key trigger for FTA VAT Audit?

• Large refund claims

• Large value of exports/ imports

• High fluctuations in income or expenses

• One time delay filing of VAT return

Which of the following is not a type of FTA VAT Audit?

• VAT return review

• VAT refund review

• E-mail inquiry from the FTA

• Tax evasion case

What is the general timeline given by the FTA for submitting response during FTA Audits?

• 2 to 5 Business days

• 5 to 10 Business days

• 10 to 20 Business days

• 15 to 30 Business days

For the purposes of conducting a Tax Audit, the Authority may inspect:

• The Premises, documents and Assets available at the Premise

• Data and records stored electronically

• Accounting systems used by the Person subject to the Tax Audit

• All of the above

XYZ LLC, is an entity that is engaged in Real estate sector and PQR LLC is an entity engaged in Automotive business. Whether the checklist for FTA Audit of XYZ LLC and PQR LLC be same?

• Yes

• No

Which of the information is ideally not sought by the FTA, during VAT Audit

• Copy of all the Invoices and Agreements

• Transaction listings in a specific template

• Complete Trial Balance

• Corporate Group structure including branches and location

What should be considered while filing response to the Questionnaire during VAT Audit

• Clear and to the point response

• Highlighting issues only when asked by the FTA

• Not providing a complete picture

• Only providing Corporate entity related data

Which of the following aspects is considered legitimate in the Tax world?

• Tax Avoidance

• Tax Evasion

• Tax Planning

Which of the aspect is not envisaged in the proposed E-Invoicing mechanism in UAE?

• B2C invoicing

• B2B invoicing

• Zero rated invoicing to Business entities

What is the timeframe for implementing E-Invoicing in UAE

• December 2025 for select entities

• July 2025 for select entities

• December 2025 for All entities

• July 2025 for All entities