Tax due diligence via the client's eyes

Tax due diligence is an assessment of a company's taxation system for compliance with legal requirements.

This procedure is primarily intended to selectively verify the correctness of calculation, timeliness and completeness of payment of taxes and fees, the procedure for completing tax declarations, and the correctness of accounting records of calculated taxes.

The main purpose of tax DD is to minimise tax risks and liability measures.

How does tax DD seem from the eyes of the client?

  1. preliminary research of the client company's activities
  2. development of an action plan
  3. review of documents and databases of the client
  4. preparation of an opinion
  5. joint review of the identified risks and development of recommendations on their minimisation.

Tax due diligence can be useful to business entities:

  • that do not undertake a mandatory audit of accounting statements
  • included in the plan of selective audits
  • concerned with assessing the tax consequences of specific business transactions
  • concerned with a comprehensive assessment of tax risks associated with the implementation of activities.

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