According to the Federal Decree Law of 2022 regarding tax procedures, the voluntary disclosure is a form prepared for the taxpayer to notify the Federal Tax Authority of an error or omission in VAT return, VAT assessment, or VAT refund application.
When Must a Voluntary Disclosure for VAT Returns be Submitted?
- If it becomes clear to the taxpayer that the tax refund request submitted by him to FTA is incorrect and this results in the refund amount that he was entitled to recover in accordance with the tax law being calculated more than it should be, in this case he must request a tax refund and correction by submitting a voluntary declaration within the time period specified by the regulations Implementing this law.
- The taxable person submits a voluntary declaration if it becomes clear to him that the tax return submitted by him to FTA , or the tax assessment sent to him by FTA, is incorrect, which has led to the tax payable in accordance with the tax law being calculated at less than it should be. In this case, he is required to correct this return within the period. Determined by the executive regulations of this law.
- If it becomes clear to the taxable person that the tax declaration submitted by him to FTA or the tax assessment sent to him by FTA is incorrect, which has led to the tax payable in accordance with the tax law being calculated more than necessary, then he may in this case request the correction of this declaration by submitting a voluntary declaration.
- If it becomes clear to the taxpayer that the tax refund request submitted by him to FTA is incorrect, which led to the refund amount that he was entitled to recover in accordance with the tax law being calculated as less than it should be, in this case he may request the correction of the tax refund request by submitting a voluntary declaration.
How to Submit a Voluntary Disclosure for VAT Returns?
Voluntary Disclosure for VAT Returns can be submitted through a special form prepared for this purpose and sent to FTA. This form should not be used except in cases of the existence or discovery of actual errors in the returns or in the tax assessments issued by FTA stresses the necessity of not using the voluntary declaration form, except in cases Only those referred to above clarified the cases of submitting a voluntary declaration under the Tax Procedures Law, as stipulated in Article 10 thereof.
How “VAT Registration UAE” Assists?
Filing a tax return demands considerable expertise in tax and accounting to ensure accurate payment of taxes owed. At Farahat & Partners Firm, our team comprises tax specialists with extensive local, regional, and global knowledge. Reach out to us today, and we’ll be delighted to provide our assistance.
