Tax risks may arise not only from errors in tax calculations or the preparation of tax returns. They may also result from differences in the interpretation of legislation, incorrect application of tax benefits and exemptions, the specific nature of certain transactions, or discrepancies between the company’s records and information reflected in the tax system.
FlexAudit conducts a comprehensive review of a company’s tax liabilities to identify existing and potential risks. We analyse the accuracy of tax calculations and payments, submitted tax returns, the application of tax benefits and exemptions, as well as specific transactions that may have significant tax implications.
Following the review, the company receives a clear understanding of identified risks, potential additional liabilities, penalties and financial sanctions, together with recommendations for addressing them. This enables the company to correct identified inconsistencies in a timely manner and reduce the likelihood of future tax claims.
A separate area of our work covers situations where tax liabilities have already been assessed or recorded incorrectly. FlexAudit assists in analysing the basis for such assessments, resolving disputed tax liabilities, and addressing the refund or offset of overpaid taxes.
What the Service Includes
Comprehensive review of the accuracy of tax calculations and payments
Analysis of the company’s tax liabilities and verification of the accuracy of the calculation and payment of the relevant taxes. Review of tax returns, tax benefits, exemptions and specific types of taxes
Analysis of the accuracy of reported transactions and the validity of tax benefits and exemptions applied under applicable legislation. Identification of tax risks, potential liabilities, penalties and financial sanctions
Identification of existing and potential tax risks and assessment of their possible consequences for the company. Preparation of a review report with recommendations for addressing identified risks
Presentation of the results of the review, identified issues and practical recommendations for addressing them.
Resolution of Disputed Tax Assessments and Tax Refunds
Where unjustified or incorrect tax assessments are identified, FlexAudit can assist the client in resolving them, including the preparation of the necessary calculations, supporting arguments and submissions to the tax authorities. If an overpayment of VAT, corporate income tax or other taxes has arisen as a result of an incorrect calculation or other circumstances, we analyse the grounds for a refund or offset and provide support throughout the relevant procedure.
Where a tax matter cannot be resolved through administrative procedures, our work may include preparation of the client’s position and support in the tax dispute in accordance with the procedures established by law.
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