Tax audit service

Avoiding tax risks and how to optimize the benefits of businesses in the tax environment in each country is a headache for managers. Expertis's tax audit services are designed and implemented to help businesses ensure compliance with tax laws, eliminate risks and optimize business benefits.

EXPERTIS

Understanding tax audit

Tax audit is a form of compliance audit: is an auditor's examination and opinion on the compliance with laws, regulations and tax regulations that the audited entity must perform.

Tax audit is a form of compliance audit performed by a professional auditing firm and hired by a business wishing to conduct a self-assessment of its compliance with tax laws, regulations and regulations.

Tax finalization inspection refers to the tax authority's inspection of tax finalization for enterprises, assessing the tax compliance level of enterprises, thereby taking corresponding handling measures according to the Law on Tax Administration. of Vietnam.

Expertis's tax audit service is designed to help businesses achieve one of the following goals:

  • Check, evaluate and confirm the reliability of information on payable tax and paid tax amount;
  • Assess tax compliance, eliminate tax risks;
  • Evaluation of the optimization of the amount of tax payable;
  • Review of corporate tax planning and implementation.

Those are enterprises and organizations that have business activities within the scope of management of the Law on Tax Administration and have the following cases:

  • To be examined, evaluated and confirmed the reliability of information on payable tax and paid tax amount;
  • To assess tax compliance, exclude tax risks;
  • Want to evaluate the application and optimization of their tax payable;
  • Want a clear basis for tax planning and tax implementation of the business.

1. Shareholders, investors, parties to joint ventures, associates, customers and other organizations and individuals with direct or related interests;

2. The director of the enterprise wants to exclude responsibility for the management of the business.

3. The legal representative of the enterprise wants to eliminate risks for the enterprise in which he acts as the legal representative.

Job details of Tax Audit service

Tax audit service

The work to be done includes:

1. Collecting current tax returns or calculation tables:

  • Reconcile accounting profit and the payable CIT amount on the declaration with the accounting book and financial statements figures;
  • Checking the completeness and accuracy of the determination of taxable / non-taxable income, expenses, eligible / non-deductible or entitled to various incentives, exemptions or tax rates on the basis of the results of audits of the related revenue / expense portions;
  • Assess whether the tax differences are temporary or permanent to determine the current and appropriate deferred CIT;
  • Assess the current status of carry over from previous years (for example: accumulated losses, remaining tax, deferred taxes);
  • Considering changes in tax rates, reductions, tax incentives or tax regulations in the year applicable to the units;
  • Check applicable tax rates and accuracy of the calculation.

 

2. Check the estimated basis, the calculation method of deferred corporate income tax and consider the evaluation at the end of the period. Check if the accounting of deferred tax assets is in the future when certain future taxable profits will be available to use these deductible temporary differences.

3. Check documents of CIT payment and receipts for CIT refund in the period (if any).

4. Compare and check expenses to see if there are selling expenses, administrative expenses, depreciation expenses of fixed assets, payable expenses, prepaid expenses, etc., which are not reasonable, there are not enough documents. It is not possible under the regulations to be deductible when determining taxable income that has not been excluded by the entity.

The work to be done includes:

1. Collecting VAT declarations in the year / period:

  • Prepare a summary of VAT declared in the year / period. Compare the figures on the summary table with the figures of the accounting books and financial statements (total deductible input VAT, total arising output VAT, total taxable turnover, etc.). Find out the cause of the difference (if any);
  • Check and compare with the tax regulations to ensure that the VAT rate applied by enterprises is consistent with the regulations.

 

2. Based on sales and other income data subject to VAT and the corresponding tax rate, make an independent estimate of the output VAT and compare it with the accounting data and the VAT declaration. Find out the cause of the difference (if any)

3. Checking tax payment receipts and VAT refund vouchers in the period.

4. Checking the validity of the deductible input VAT:

  • Read the detailed input VAT book to detect VAT on non-bank payments [from 20 million VND] or more but still declare to be deducted;
  • Check the sample of input VAT voucher vouchers to assess the validity of the deductible input VAT amounts in the year;
  • For deductible input VAT on exported raw materials, check the collection of export sales amount corresponding to the deductible input VAT.

 

5. Discuss with the unit and check the payables to the seller if there is a case of overdue payment and the unit has deducted the corresponding input VAT and is not deductible. At the same time, choose the form to check whether the payment voucher is in accordance with the deadline for deferred payment declaration.

6. Check the ledger and tax return of the months after the end of the accounting period to ensure that the output and input VAT has been fully and timely accounted.

The work to be done includes:

1. To check the calculation, declaration and payment of personal income tax, compare accounting data with tax declarations, payrolls and tax payment vouchers, compare with relevant tax regulations;

2. Considering and executing other administrative expenses to see if there are expenses incurred in the period such as:

  • Give; book translation money; teaching money; money for joining associations, Board of Directors, Board of Members, Management Board, ...; money for the provision of scientific and technical services, cultural and physical training and sports services, construction design consultancy services and legal services; monetary promotions, prizes ...;
  • Rent paid to foreigners, school fees for school children of Vietnamese workers, car rental for individual workers, purchase of optional insurance, medical treatment, ...;
  • Profits / dividends paid in cash to members / shareholders;
  • Loans from individuals;

Value that tax audit services bring

Help check tax finalization safely

Advising on policies in Vietnam Tax Law, helping businesses comply with tax regulations of the law.

Consulting to build the tax practice system of enterprises

Consulting on tax management system and monitoring weaknesses in the tax system of enterprises.

Optimizing the application of tax policy

To be evaluated on the application and optimization of their payable tax amounts; Establish a clear basis for your tax planning and execution.

Reasons to choose Expertis's tax audit service

The Board of Directors, the tax advisory team has more than 18 years of experience in tax consultancy for thousands of businesses

Expertis has an in-depth understanding of taxes in general and taxes in specific business areas.

Expertis always supports, consults and understands the customer's business reality

Through more than 18 years of professional operation in the field of tax consulting, we have undergone thousands of tax finalization audits, each year we undergo about 300 tax finalization audits in Vietnam.

We have performed tax finalization checks for many businesses in the fields of manufacturing, processing, trading, services, construction, transportation...

Expertis's audit services focus on service quality and building long-term relationships with Clients.

This allows us to understand all aspects of the business and the environment in which it operates, to ensure that the work is focused on the right nature and time, making it efficient and cost-competitive. best.

+ Accurately perform the work content as agreed in the contract.

+ Prepare reports, send reports as required and on time.

+ Cooperate with customers to find solutions to problems to ensure that the results of the audit report comply with the provisions of the law.

FAQ - Financial statement audit frequently asked questions

Self-filing of tax finalization declarations, or tax finalization declarations, is the determination of the amount of tax payable in the following cases:

  • The payable tax amount of the tax year;
  • The payable tax amount of the period from the beginning of the tax year to the termination of activities that give rise to tax obligations;
  • The payable tax amount of the period from the time of arising to the termination of the activities that give rise to the tax obligation in accordance with the provisions of law.

The term Tax finalization examination means that the tax administration agency conducts the order and procedures to check the accuracy of the enterprise's tax finalization declaration.

Enterprises have the right to declare and pay their own taxes, but must be responsible for their self-declaration and payment of taxes. In case of errors, enterprises will be fined depending on the severity of the behavior classification such as:

  • Delayed declaration, incorrect declaration but not missing the payable tax amount.
  • Understatement of tax amount causes a lack of tax payable.
  • Understatement of tax amount due to intentional error but not to the extent of tax evasion.
  • False declaration of tax evasion.

The term tax finalization is often understood as the process by which the tax administration agency conducts the order and procedures to check the accuracy of the enterprise's tax finalization declaration.

Enterprises have the right to declare and pay their own taxes, but must be responsible for their self-declaration and payment of taxes. In case of errors, enterprises will be fined depending on the severity of the behavior classification such as:

  • Delayed declaration, incorrect declaration but not missing the payable tax amount.
  • Understatement of tax amount causes a lack of tax payable.
  • Understatement of tax amount due to intentional error but not to the extent of tax evasion.
  • False declaration of tax evasion.

Each act has a different level of punishment in order from less serious to serious.

Due to the self-declaration and self-filing nature of tax administration, if an enterprise detects an error before the tax authority announces the decision to examine the tax finalization, it is still entitled to make adjustments and not consider the erroneous act as a violation. violate.

Therefore, early tax audit, especially before the tax authority announces the inspection decision, is extremely important in reducing penalty costs and ensuring compliance with corporate and individual responsibilities. the head of the business.

If you need tax audit services, or need tax audits, tax finalization checks, please contact Expertis.

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