Tools · VAT · CORPORATE TAX

VAT to Corporate Tax revenue reconciliation

Start from revenue in the accounts, add and subtract the usual reconciling items, and compare with what your VAT returns declared for the same months.

Revenue per the financial statements (AED)Box 1 + Box 4 + Box 5, same months (AED)

+ Advances received this year for later work− Prior-year advances recognised this year− Unbilled revenue with no tax point yet+ Supplies that are not revenue (asset sales, deemed supplies)− Income that is not a supply (dividends, fair value gains)± Other items (exchange rates, credit notes)

Expected VAT supplies

AED 48,550,000

Declared VAT supplies

AED 48,610,000

Unexplained difference

+AED 60,000

That is 0.12% of expected supplies. Investigate this difference until it is explained or corrected, and correct VAT errors through a voluntary disclosure where the rules require it.

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VAT to Corporate Tax revenue reconciliation

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