Tuesday, June 23, 2009

World-wide: Preparing for a tax audit

If you missed the workshop on 9 June 2009, get a copy of the notes: For the Workshop program, see below: To buy the notes now copy and paste: http://www.etaxes.co.za/ebook_CustomerDetails.asp?ProdID=19
TRRBS #1 How to prepare for a Tax Audit
Part 1 of The Tax Risk Review Boardroom Series

This unique Tax Risk Management Boardroom Series has been designed specifically for any entity that may be subject to a tax audit (from SME's to all levels of senior management and tax executives or corporations), as well as the professionals who consult and assist these entities.

This series will go a long way towards helping you ensure your organization's future tax health.

Breakfast, Registration and Tea:
08:00am – 8:45am

This Workshop is divided into 3 sessions to prepare you for a tax audit. At the end of the workshop you will have grasped key concepts and learnt how to compile an effective tax risk matrix and tax risk report.

Session 1 – 08:45am – 10:00am – Preparing for the tax review and the legal landscape

  • Revisiting the rights of taxpayers, the procedural landscape, the onus and standard of proof

  • Revisit penalties, interest and suspension of payment provisions

  • Understand which tax mistakes you make red flag SARS

  • Be capable of drawing SARS into interaction at an administrative level - avoiding litigation

  • Plan for optimal communication and cooperation within your organization, ensuring a high degree of tax awareness in the business, from the ground up

Coffee Break – 10h00am – 10:30am

Session 2 - 10:30 am - 11:30 am – The tax risk review interview process and fact gathering process

  • Compile a detailed tax risk matrix with excel summarizing the key tax risks

  • Determine the on and off the radar screen tax issues

  • Identify which business unit heads will be invited to the interview process

  • Review the questions to be asked in the interview process

  • Understanding the business unit process and the tax risks that may arise

  • Review all tax advice and opinion given in the last 3 years

  • Carefully record into minutes and revisit the results of the interview process

  • Obtain any other relevant facts

  • Revisit the tax risk matrix to amend in accordance with the new found facts

Session 3 - 11:30 am – 12:30 pm – Wrapping up the tax risk review process and compiling the tax risk review report for senior management

  • You will be taken through a comprehensive tax risk review sample report

  • You will be given insight into what must be inserted in the report and highlighted for senior management

  • You will be shown how the tax review report interacts with the tax risk management matrix

Who Should Attend?

  • Business owners

  • CEOs,

  • Managing Directors

  • CFOs

  • Financial Directors

  • Anyone involved in Financial Management

  • Senior Managers

  • Financial Directors

  • Accountants

  • Legal Professionals

  • Tax Managers

  • Directors

  • Risk Managers

  • Corporate Lawyers

To buy the notes now copy and paste:

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