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Tax audit and tax risks computation

Despite the fact that in these latter days financial accounting (bookkeeping) and tax accounting are becoming more and more close, and also in spite of their seeming similarity there are still lots of factors evidencing in favor of the approach that they are two separate kinds and systems of accounting.

Every year fines for non-compliance with tax legislation become more and more strict, while tax legislation itself changes regularly and sometimes it is rather difficult to keep track of changes. In connection with this value and relevance of tax audit is not only not decreasing, but is constantly increasing.

By its very essence tax audit is the same as financial audit except the fact that the tax statements are object of tax audit. In such case the task of consultant-auditor is verification and confirmation of correctness of drawn tax statements and in case of finding violations – providing clear and comprehensible recommendation how to adjust identified deviations in the shortest possible terms and what is needed to be done in order to avoid them in the future. Tax statements of all or certain kinds, identified by the client, taxes can be subject to tax audit.

Audit is conducted for the reporting period set out by the client. It is usually period of company’s activity covering the last three years (in accordance with the general rule the tax authority has no right to check correctness of tax obligations identified by the tax payer after this period). But in some cases tax authorities still can analyze documents and tax statements for more early periods: up to seven years from the date of primary documents or respective tax statements drawing. In this regard, more often period of audit covers from one month to three –five years.

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Within the framework of tax audit and tax risks computation we perform:

  • Testing of accounting policy for compliance with the Ukrainian accounting standards
  • Verification of accounting and availability of confirming documents
  • Verification of payroll and other payments to individuals accruals correctness
  • Preparing alternative tax statements with identification of discrepancies

Our specialists:

Price for services:

The prices for tax audit and calculation of tax risks are determined for each request individually, based on the specifics and activities of the enterprise.
To receive the exact cost of the service, please contact our office.