Voluntary Disclosure
Mitigating risks with timely corrections
The Federal Tax Authority encourages voluntary disclosure by taxpayers who may have violated the ruling or who believe that something wrong has been committed. Proactive approach to mistakes to avoid any penalty. Voluntary disclosure must be made by a taxable person to notify the Authority of any error in tax returns, tax evaluation, or tax refund requests.
According to Article 8 of Cabinet Resolution No. 36 of 2017 regarding the executive regulations of Federal Law No. (7) of 2017 regarding tax procedures, there are specific cases in the guide according to which the taxable person can submit voluntary disclosure.
it is a matter of question; how can a company find errors / errors in the VAT returns already provided. The company can undergo an audit review to understand errors in the returns actually submitted. Our VAT compliance review can help you find all errors / errors on your VAT returns.
In the end, this measure will reduce the risk of fines and penalties in the event of a tax audit by the Federal Tax Authority. It will also ensure that there are no tax issues to your customers that could negatively affect your business relationship.
There are several cases of application rejection due to wrong tax return filing by taxpayers. MAI TAX Services has assisted several clients with filing a voluntary disclosure form. Our team of VAT experts guide you throughout the process as well as after the application is submitted.
With a thorough understanding of the business sectors, we can help your company to apply within the specified timeframe of 20 days to discover the error. We also guide you in every step even after submitting the application with due diligence.