Yes, a taxpayer who opts for the OSD as the deduction to arrive at the taxable income subject to the graduated income tax rates is exempt from FS submission.
when they are checking whether your business is complying with its Tax obligations, when they are verifying your Annual Inventory List (AIL) compliance, when they are inspecting your Books of Accounts, when they are verifying your Documentations and Bookkeeping compliance, when your business is under Tax examination and investigation, and, many more ...