A tax audit provides an independent assessment of the state of a company’s tax accounting and determines whether its tax liabilities are calculated and fulfilled correctly. Depending on the scope of the engagement, the audit may cover the company’s overall tax position or specific types of taxes, transactions or reporting periods.
FlexAudit reviews the company’s tax accounting, tax returns, calculations and supporting documentation on which its tax liabilities are based. The audit examines the accuracy of tax calculations and payments, the proper reporting of relevant transactions in tax returns, and compliance with applicable requirements of Azerbaijani tax legislation.
Particular attention is given to the proper application of tax benefits and exemptions, as well as transactions that may result in additional tax liabilities. The audit helps identify existing errors and inconsistencies, as well as issues that may potentially lead to additional tax assessments, penalties and financial sanctions.
Following the audit, FlexAudit prepares an audit report setting out the identified errors, inconsistencies and tax risks. This information enables the company’s management to assess the current state of its tax accounting and take timely measures to address the issues identified.
What the Service Includes
Review of the accuracy of tax calculations and payments of taxes and other mandatory payments
Analysis of tax calculations and the company’s fulfilment of the relevant tax obligations. Audit of the company’s tax accounting, tax returns and calculations
Review of tax accounting records, submitted tax reporting and the supporting documentation underlying the relevant calculations. Review of the proper application of tax benefits, exemptions and other provisions of tax legislation
Analysis of the validity of the company’s application of relevant tax regimes, benefits and exemptions. Identification of tax errors and risks and preparation of an audit report
Summary of identified inconsistencies and risks, with the results of the audit presented in the final audit report.
FLEXAUDIT