Gevorg Movsisyan - Head of Audit,
Tax audit – specific procedure carried out by the audit company for discussion and verification of business entity accounting and tax reporting to express an opinion about the level of reliability and conformity in all material respects with the norms set by law, origin, recording, and payment terms of business entity tax and other fees.
When is tax accounting needed, for whom and why?
Due to various economic activity facts of business, as well as non-profit organizations, reform of accounting rules, changeability of tax legislation and uncertainty in the interpretation of some tax rules, the accounting services of companies are not always able to correctly analyze issues of economic activity facts reflection and their role in tax base calculation. Such situations increase the risk of significant financial losses in a form of fines and penalties for submission of tax claims requested by state-authorized bodies. Our efforts aim to solve such issues and accumulate experience:
- Tax reports verification of economic entities in different spheres of activity;
- Study of different level court decisions and judgments between tax authorities and economic entities;
- Constant monitoring of changes in tax legislation;
- Study of economic and tax norm explanations by the leading professionals of RA Ministry of Finance, tax service, and other institutions.
Tax Audit Price
The price of tax audit is determined on an individual basis and depends on the operation type and value, and business complexity of the company. In practical terms, the tax evaluation price of small and medium-sized organizations fluctuates between 300 and 900 thousand Armenian Drams.
What Do We Offer?
- An audit report reflecting our conclusion regarding RA state budget and extra-budgetary fund calculations, organization tax accounting conformity with tax regulations, and suggestions for tax accounting improvements.
- Consulting regarding the application of tax regulations for the specific cases of your organization’s economic activities.
- Suggestions aimed to improve the tax accounting of your organization.
- Professional qualification development of accounting staff as a result of the carried-out tax audit.
As a Result, You Acquire
- Compliance in organization’s tax accounting with RA Tax Legislation requirements;
- Tax calculation and payments to non-budgetary funds are carried out in accordance with the requirements of RA legislation.
- Minimalized risks of claims submission by the state authorized bodies.
- Accurate reflection of organizations calculations of state and extra-budgetary funds in accounting (financial) reports.