FTA-VOLUNTARY DISCLOSURE-UAE

Over more than Aed: 10000 error make sure cant be adjust in next quarter. It has to adjust through a Voluntary Disclosure . Before filing the Voluntary Disclosure keep in mind there are three types of penalty will be generated as the time . 

Voluntary Disclosure Fixed Penalty    

Voluntary Disclosure percentage based Penalty

VAT Admin Penalty

Voluntary Disclosure Fixed Penalty  Aed: 3000

Voluntary Disclosure percentage based Penalty , 5% will be charged on the outstanding payable 

VAT Admin Penalty : Penalty on the outstanding dues till the said payment cleared.This penalty charged as:

2% on the outstanding for First seven days. 

4% on the outstanding amount after 8-30 days. 

1% daily after one month on the outstanding amount till the outstanding payment cleared. 

If the error get notified by the federal Tax Authority in audit 

Voluntary Disclosure Fixed Penalty  Aed 3000

VAT Admin Penalty 50% on the outstanding payable

Voluntary Disclosure percentage based Penalty 5% will be charged on the outstanding payable