Minimising potential for tax exposure
Tax audits can be complex and challenging for taxpayers in Ghana. Tax audit involves an examination of a taxpayer’s return as compared with the underlying financial records to determine whether the returns are accurate. Tax audits for companies are performed either continuously or within irregular intervals depending on the form and size of the company.
It is very important for taxpayers to be on the guard always and prepare for tax audits and investigations. They need to also manage the processes to minimize potential tax exposure resulting from tax audits and investigations.
Benefits of Tax Audit Support
- Information requested by the tax auditors is reviewed to evaluate the direction of the audit and assess potential tax exposures.
- Relevant tax laws and regulations are reviewed, and strategic options put in place to challenge issues raised by the tax authorities to minimize taxpayers tax exposures.
- Formulate appropriate responses to the tax authorities after the submission of tax audit report.
- Formulate other means of resolution of the issues raised in the tax audit report.
- Formulate and evaluate the feasibility of tax appeal against tax liabilities raised in the tax audit report.
Expert Assistance
At KKGO, our team of experts has extensive experience and in-depth knowledge of the tax laws and regulations to assist taxpayers manage and navigate through tax audits as well as investigations by:
- Providing support to them before, during, and after-tax audits and investigations.
- Assessing potential areas of dispute and mitigating risk of tax exposure .
- Tapping into our rich experience and knowledge to resolve tax audit and investigations disputes.
- Recommending corrective actions to minimize future tax liabilities and exposures.
Contact us for our help.