Tax audits in the UAE are conducted by the FTA to enable the government to assess a taxable entity is complying with the tax laws. Through the tax audit, the FTA will examine whether the taxable persons have paid every liability, and all the tax due is collected and given to the government within the stipulated timeframe. FTA can conduct the tax audit at its office or the business premises of the taxable person or any place where the person conducts his business.

The Ministry of Finance has announced that the UAE will introduce a federal corporate tax on business profits that will be effective for the financial year starting on or after June 1, 2023.The Corporate Tax Rates are…