Ashish Athavale
Partner – Tax Advisory Services
When businesses face issues that are not clearly addressed by existing legislation or guidelines, they may request a clarification from the FTA, which serves as a private ruling.
At BDO UAE, we assist businesses in obtaining clarifications by:
- Review the background and context of the issue.
- Help assess potential technical positions based on legislation and guidance.
- Draft and submitting the CT clarification request to the FTA.
Additionally, we assist businesses in filing appeals through the reconsideration process. This allows taxable entities to request the FTA to reconsider decisions related to corporate tax, including assessments and penalties.
We guide businesses through the reconsideration process by:
- Understand the reasons and facts leading to the FTA’s penalty imposition.
- Assist in drafting and submitting the reconsideration application and supporting letter to the FTA.
A Voluntary Disclosure is a proactive compliance mechanism allowing taxpayers to self-rectify errors or omissions in their corporate tax returns to mitigate heavy administrative penalties before an audit commences.
We guide businesses through the preparation and filing of voluntary disclosures for unreported or misstated items, mitigating penalties and reinforcing compliance credibility.
We guide businesses through the Voluntary Disclosure process by:
- Identifying and quantifying tax errors or omissions to determine the correct tax liability and eligibility for disclosure.
- Assessing the impact of potential administrative penalties and ensuring the disclosure is submitted within the 20-business-day statutory window.
- Assisting in drafting and submitting the formal application and supporting documentation to the FTA to ensure a transparent and accurate self-rectification.
