Tax audit is one of the types of a single purpose audit engagement.
As a rule tax audit is required for the enterprises where general audit makes no sense because it would be unreasonable diversion of resources.
Tax audit is especially effective since due to the specifics of economic life of our country possible claims of taxing authorities are among the main risks of an entity. Such claims may be caused by the specifics of document flow and inconsistency in provisions of tax legislation in regard to operations effected by an entity.
That is why in-process monitoring tax accounting provides for minimizing possible tax implications.
During tax auditing our experts will evaluate:
- accuracy of calculation of a tax base;
- compliance of supporting documents with provisions of the tax legislation;
- detect and analyze operations of increased risk;
- work out guidelines for improving documents exchange with contract parties;
- present a full report including advice and legal precedents.
During tax auditing only certain types of taxes and charges may be examined.
A tax audit engagement results in independent appraisal of tax calculation and payment within a certain period of time.
At Client’s option, in addition to expert review and analysis of detected inaccuracies, our experts will work out guidelines for the most efficient tax planning with due regard for the specifics of your business.
Among many advantages of our Company is the fact that our experts always have up-to-date, relevant information concerning latest changes and developments of tax legislation.