The Revenue Service has recently strengthened its declaration control procedures, reduced the frequency of on-site tax audits while increased the number of declaration discrepancies that escalate into full audits. The Revenue Service’s Audit Department has dedicated substantial resources to declaration control.
This service entails auditing all required current declarations to ensure compliance with the client’s tax obligations.
We provide high-quality tax support to businesses of all sizes, from small and medium-sized enterprises to large corporations. Our services are specifically tailored for:
Contact us today to explore the benefits of working with Loialté!
Although an accountant records daily transactions and fills out tax returns, technical inaccuracies and overlooked issues are common due to lack of time or workload, as well as errors caused by different interpretations of legislation.
The same person rarely notices his own mistake, and in such cases, the involvement of a tax auditor creates an additional protective layer for both the company and the accountant. An audit of current tax returns does not necessarily mean distrust of the accountant or the need to replace him, but rather they complement each other and insure your business against unexpected sanctions.
It is recommended to conduct an audit of declarations monthly or, in extreme cases, quarterly, depending on the volume of the company’s activity and tax risks. In our experience, a monthly audit allows you to detect errors in a timely manner and avoid additional penalties or excessive taxes. This is a preventive step that protects you from financial uncertainties.
The inspection lasts an average of 2-10 days and depends on various factors, including the number and accuracy of declarations and accounting documentation available during the study period, the timeliness of their submission for the audit. The specifics of the company’s activities are also of great importance, as well as whether the audit requires additional explanations or verification of source documents, etc.
Loialté is the largest provider of the “Produce in Georgia” agency’s so-called Growth Hubs project, which means that entrepreneurs who meet the criteria set by the program
can benefit from co-financing of up to GEL 10,000 in the following areas:
Additional information about the program can be found at the link.
A current tax audit is conducted immediately after the end of each reporting period, before the formal submission of tax returns, and aims to ensure ongoing and continuous compliance with tax legislation.
In contrast, a full tax audit involves examining past tax liabilities and is typically conducted annually, sometimes every three years.
In such cases, the detection of deficiencies may be delayed, which increases the likelihood of financial risks, penalties, and unpaid liabilities.
When using the tax return process support service, Loialté will provide you with experienced tax auditors and consultants with many years of experience in both the private and public sectors (including the Revenue Service).
With our involvement, the monthly declaration process becomes more secure and controllable, while our professional liability is insured by a leading insurance company. As a result, you insure your tax risks and receive a strategic partnership based on experience, legal accuracy and reliability.
In addition, Loialté holds an ISO 9001:2015 certificate in the field of tax services, which confirms the high quality of our services and compliance with international standards.
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Georgia, Tbilisi
Georgia, Batumi
Uzbekistan, Tashkent
United Arab Emirates, Dubai
Phone
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Georgia, Tbilisi
Georgia, Batumi
Uzbekistan, Tashkent
United Arab Emirates, Dubai
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