How can I avoid a sales tax special audit?
May 12, 2023 | 50,00 EUR | answered by Emma Wagner
Dear tax advisor,
I have been running a successful business for several years now and have always submitted my VAT returns on time and correctly. However, I have recently heard that my company has been selected for a VAT special audit. I am concerned that this audit may uncover errors on my part that could lead to additional payments or even penalties.
In the past, I have always made sure to comply with all VAT regulations and keep my records carefully. Nevertheless, I want to ensure that my company is well prepared for future audits and that potential risks are minimized.
Therefore, I would like to hear from you what measures I can take to avoid a VAT special audit. Are there specific aspects I should pay special attention to? What documents should I have ready to be well prepared in case of an audit? Are there any specific procedures or tips that you can recommend to me to prevent potential problems?
I thank you in advance for your support and advice on this matter and look forward to hearing from you.
Sincerely,
Piotr Schottmann
Dear Mr. Schottmann,
Thank you for your inquiry regarding the sales tax special audit that your company is facing. As an experienced tax consultant in the field of sales tax, I can understand your concerns and would like to offer you some advice to minimize potential risks and prepare your company well.
First and foremost, it is important that you keep your documents carefully and completely. This includes invoices, receipts, contracts, and all other relevant documents related to your sales tax declaration. Make sure that all information is correct and all legal requirements are met.
Another important aspect is compliance with sales tax regulations. Ensure that you correctly apply all sales tax regulations and do not make any errors in calculating or remitting sales tax. If you are unsure if you have done everything correctly, it would be advisable to consult with a tax advisor who can review your documents and correct any mistakes if necessary.
I also recommend that you prepare well for the sales tax special audit. Have all relevant documents ready that may be needed for the audit. This includes not only your sales tax declarations, but also all other documents related to your tax situation.
It is also important to be cooperative and transparent during the audit. Answer all questions from the auditors openly and honestly and provide additional information if requested. Good cooperation can help ensure that the audit runs smoothly and any potential issues can be resolved quickly.
Finally, I would advise you to regularly review your tax obligations and make adjustments if necessary to minimize potential risks. If you follow these tips and keep your documents and processes in order, there should be no obstacles to a successful sales tax special audit.
I hope that my advice is helpful to you and I am available for any further questions.
Sincerely,
Emma Wagner, Tax Consultant
