A proactive tax health check can identify filing, payment, documentation and reconciliation gaps before they become more difficult to resolve.
Start with the tax control account
Tax returns should reconcile to the underlying books and supporting schedules. Differences between accounting records, submitted returns and payments can accumulate unnoticed when reconciliations are postponed.
Create a recurring review that covers filed returns, payment references, outstanding assessments and unresolved correspondence.
Check the documentation behind positions
Good tax governance is not only about submitting forms. Keep calculations, invoices, contracts, payroll schedules and the reasoning behind material tax treatments in a form that can be retrieved later.
Where rules or business circumstances have changed, obtain current professional advice rather than relying on an old treatment.
Make compliance visible to management
A tax calendar with owners and review checkpoints helps management see upcoming obligations. Periodic tax health checks can also highlight where accounting processes are creating avoidable compliance risk.
How AS Chartered Accountants can help
Good financial governance is easier when accounting, tax, assurance and advisory work from the same reliable information. AS Chartered Accountants provides partner-led support designed around the realities of operating in Zimbabwe. See our Tax & Efficiency Services and read our practical tax compliance guide.
Contact AS Chartered Accountants to discuss your organisation’s requirements and the scope of support that may be appropriate.
