A corporate tax audit is to review the company’s financial statements ensuring the tax filings are accurate and compliant with tax laws. The process typically involves examining financial records, transactions, and supporting documents to ensure proper reporting and payment of taxes.
Common Issues Found During Corporate Tax Audits:
- Incorrect or missing documentation
- Overstated expenses or deductions
- Unreported income
- Transfer pricing issues
- Improper classification of expenses
- Failure to comply with tax laws or deadlines
- Inconsistent financial reporting
Dedicated Team
Consultations
Clients
How Mazzoni Advisors can help you to be ready for a Corporate Tax Audit:
Organize Records
Keep comprehensive and well-organized financial statements, tax returns, receipts, invoices, and transaction documents
Review Tax Filings
Double-check your filed returns for accuracy and consistency with your financial records.
Understand Your Tax Positions
Be familiar with the deductions, credits, and adjustments claimed.
Prepare Explanations
Be ready to justify any significant entries or discrepancies.
Implement Internal Controls
Ensure your company has proper procedures for financial reporting and record-keeping.
Why Choose Mazzoni Advisors?
As one of the longest-standing accounting firms in Dubai, we have in-depth market knowledge and a proven track record of successful tax engagements. Our team works hard to understand your unique business needs, from startups to established multinational corporations. We aim to form long-term partnerships and are always available to address your queries.
You can trust us to ensure full tax compliance professionally while keeping costs low. Contact us today to learn more about how we can help your company benefit from our comprehensive range of tax advisory services!
