Filing VAT return under the VAT regime is crucial as non-compliance and delay will result in penalties and affect your compliance rating and timely refunds.
Transaction verification:
Review and verify VAT related transactions recorded by the Entity during the tax period to ensure that correct VAT amount is charged on sales as Output tax, and that VAT charged by the supplier is correctly claimed /accounted.
Random verification of the VAT transactions to confirm that selected transactions shall fulfill the compliances as per the provisions of the Value Added Tax Laws applicable. Such samples shall be selected based on our risk assessment and auditing practices.