Jhonny Henríquez
Tax Partner
- A tax compliance review involves the process of verifying and evaluating a company's or individual's compliance with applicable tax laws and regulations. The main purpose of this review is to identify possible non-compliance or errors in the filing of tax returns, tax calculations, and other related aspects.
- Some of the common steps in this process include:
- Information gathering: All relevant records, documents, and tax returns are collected, including income tax returns, value-added tax (VAT) returns, tax withholdings, among others.
- Information analysis: The information collected is analyzed in detail to verify the accuracy and consistency of the data, as well as to identify possible discrepancies or errors.
- Review of tax calculations: Verification that the tax calculations made by the company are in accordance with applicable tax laws and regulations. This includes reviewing tax bases, tax rates, deductions, tax credits, and any other information relevant to the calculation of taxes.
- Review of supporting documentation: Verification that the company has supporting documentation to prove the existence and necessity of its costs or expenses.