Tax
Tax Reviews
Support before, during and after a tax authority review — minimising exposure and preserving your rights.
Tax reviews are carried out by the tax authority to verify that the correct amount of tax has been declared and paid. In self-assessment jurisdictions, that verification typically takes the form of a targeted enquiry into a taxpayer's return.
Recent guidance suggests reviews increasingly focus on reaching a wider taxpayer base, vertical sector-specific enquiries, sectors known for the shadow economy, current-period audits and taxpayers who have not used tax amnesty programmes.
Topics currently under close review
- ✓Loans from foreign shareholders — thin capitalisation.
- ✓Profits retained in free zones — hidden profit distribution.
- ✓Corporate R&D expenditure.
How we help during a tax review
- ✓Attending meetings with inspectors in the capacity of financial adviser.
- ✓Researching case law and precedent to build counter-arguments.
- ✓Reviewing the analyses requested by the inspector and assessing their risk to the business.
- ✓Reviewing the wording of the record of proceedings and identifying points requiring the client's caveat.
- ✓Quantifying the exposure the company faces in numerical terms.
- ✓Evaluating the pre-assessment settlement option.
- ✓Advising on whether administrative or judicial routes are more favourable in the event of an assessment.
- ✓Ensuring the company benefits from all statutory rights during the review.
For more information, contact our consulting team.
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