The considerable risk of errors will be reduced by a VAT review. Risk management should be a major consideration in any wise business structure. It is more important than ever that a company accounts for and handles its VAT concerns effectively. Failure to do so can cost a company a lot of money, not only in terms of dealing with any errors discovered, but also in terms of resolving issues and making the required modifications to their accounting methods to ensure future compliance.

Our VAT Risk Management team enables businesses to take a proactive approach to managing VAT problems and administering the appropriate medicine to minimize any potential costs.

Our VAT Risk Management team can help you plan your accounting so that you can complete your tasks with the least amount of effort.

• Are VAT returns and accounting records and information reconciled?
• Is VAT input tax deducted when a supplier's invoice is received?
• Is there a sufficient number of checks and controls in place to ensure accurate accounting?
• The impact of VAT on non-routine transactions, as well as whether such transactions are taken into account and included in a VAT return.
• Have the new regulations been applied to the invoices (if any)?
• Is a proper accounting record of VAT transactions kept in order to enable VAT recovery?
• Is their proof kept to ensure the correct treatment has been applied when VAT is imposed at zero-rated or exempt?
• Are there processes that have been modified to reflect changes in legislation?
• Discount schemes and the impact of VAT transactions.
• Companies are merged, demerged, sold, and liquidated.
• In a business group, there are VAT concerns.
• Contracts, legal documents, and a second view

Import and export VAT consequences outside the GCC.