Avoid Penalties: Key Documents for UAE Corporate Tax Compliance
To avoid penalties during a corporate tax audit in the UAE, companies must maintain complete and accurate documentation. This includes financial statements, tax return filings, VAT records, and supplier invoices. Keeping records up-to-date and aligned with UAE tax laws is essential for smooth audits. The Federal Tax Authority may request supporting documents at any time, especially during audits. Failure to provide necessary documentation can result in penalties or even legal complications. It's crucial for businesses to understand the importance of document retention and implement strong internal controls.
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