Voluntary Disclosure
Voluntary Disclosure allows businesses to correct errors or omissions in previously submitted VAT returns in accordance with Federal Tax Authority regulations. At Oakmont, we help businesses manage voluntary disclosures accurately and efficiently to support compliance, reduce potential penalties, and maintain reliable financial records.
About Voluntary Disclosure
Voluntary Disclosure is a process that allows businesses in the UAE to proactively correct inaccuracies, omissions, or calculation errors identified in previously submitted VAT returns. Submitting a voluntary disclosure helps businesses remain compliant with Federal Tax Authority regulations while reducing the risk of penalties, disputes, and future compliance complications.
The voluntary disclosure process requires businesses to carefully review past VAT filings, identify discrepancies, and submit corrected information through the appropriate FTA procedures. Maintaining accurate financial records and addressing issues proactively supports stronger compliance management and improves transparency with tax authorities.
At Oakmont, we assist businesses throughout the voluntary disclosure process by supporting financial reviews, documentation assessment, disclosure preparation, and regulatory compliance to help ensure accurate submissions and efficient resolution of VAT related discrepancies.
Benefits of Voluntary Disclosure
Voluntary disclosure helps businesses proactively address VAT discrepancies before they become larger compliance issues. Correcting errors early can reduce exposure to penalties, strengthen financial accuracy, improve regulatory transparency, and support long term compliance with UAE VAT regulations.
Businesses that maintain accurate VAT reporting and proactive compliance practices are better positioned for future audits, operational stability, and stronger financial decision making.
How Oakmont delivers this service.
VAT Record & Error Assessment
We begin by reviewing previous VAT returns, financial records, invoices, and supporting documentation to identify inaccuracies, omissions, or reporting discrepancies that may require voluntary disclosure.
Compliance Review & Risk Evaluation
Our team evaluates the nature of the VAT error, assesses potential compliance risks, and determines the appropriate corrective actions in accordance with Federal Tax Authority regulations.
Disclosure Preparation & Documentation
We prepare the voluntary disclosure submission by compiling corrected financial data, supporting schedules, explanations, and required documentation to ensure accuracy and regulatory alignment.
Submission Through the FTA Portal
Once finalized, the voluntary disclosure is submitted through the Federal Tax Authority portal while ensuring all filing requirements and procedural guidelines are properly followed.
FTA Communication & Resolution Support
We assist businesses with responding to FTA queries, clarification requests, and additional documentation requirements throughout the review and resolution process.
Ongoing Compliance & Preventive Advisory
Following the disclosure process, we provide ongoing advisory support to help businesses strengthen VAT compliance procedures, improve reporting accuracy, and reduce the risk of future filing errors.
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