Tax audits are intended to audit compliance of the accounting of the company, its recognition of tax liabilities and taxes paid to the budget according to the laws of Georgia. For this purpose we audit timeliness and correctness of tax returns submitted, such as:
- Declaration on the (income) taxes withheld at source;
- Information about the payments made;
- Deceleration on Value Added Tax (VAT);
- VAT declaration of reverse charge;
- Excise tax declaration;
- Property tax declarations;
- Income tax declarations.
As a result of a tax audit you will receive:
- Specific notes and recommendations on drawbacks and tax risks identified (referring to specific accounting entries);
- Ways to correct them;
- Recommendations on ways to eradicate or minimize tax risks.
Besides, the following is audited during an audit:
- All primary documents and their compliance with the law requirements;
- Reconciliation of primary documents, accounting entries and declarations;
- Tax risks.
The management of a company may consider that an audit of a specific issue will be more optimal and effective for the. This may include:
- One financial statement;
- A specific segment of a financial statement;
- A specific report of a financial statement;
- A specific item in a financial statement.
As a result of assurance service a professional auditor will deliver his opinion about a specific issue.