Tax Audit and Investigation
Tax audits and investigations are activities as part of the current Self Assessment System (SAS) to promote voluntary compliance with the relevant tax laws and regulations.
Often than not, tax audits and tax investigations will result in additional taxes and penalties payable on under-statement or omission of income.
Why You Might Need Our Help
Tax audits or tax investigations are becoming increasingly common with the SAS system. Tax audits are usually carried within a pre-defined time-frame and scope so that the taxpayer is able to adequately prepare the required information and documentation. On the other hand, tax investigations are often conducted by surprise as a more severe enforcement measure.
Without specialist knowledge, your company may not be adequately prepared and could be subject to unfair assessments. We can provide you guidance and representation through the process to protect your position.
How We Can Help
We assist our clients in the following areas:
Pre-audit tax reviews to ensure proper records are in place and highlight tax risk areas
Attend tax audit meetings with the Inland Revenue Board on behalf of the client
Advising clients of their rights and how to deal with the tax audit with the least interruption to their businesses
Negotiating with the Inland Revenue Board for a reasonable basis of settlement of back taxes and penalty
Without specialist knowledge, your company may not be adequately prepared and could be subject to unfair assessments.