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  • Writer's picturerockettraveller8

Tax Due Diligence and Tax Audit

Updated: May 16

"Our company has been established for 1-2 years, but we are not sure that our taxation is correct; as at the beginning of our business we didn't really think about it. Our principle is just go for it first, perhaps if we have to pay for it later, we are going to try fulfill it as good as possible."

It's a common entrepreneurial journey to dive headfirst into running a business, prioritizing employee compensation over tax compliance. Many have misconceptions that accounting and tax are one and the same, but the reality is that accounting and tax management are distinct disciplines.

The health of your business is significantly impacted by your ability to navigate impending tax obligations. Neglecting tax payments can be tempting, but taxes serve essential purposes. They create a favorable business climate, prevent industry conflicts, and thwart monopolies.

However, businesses often find themselves drawn to aggressive tax planning, hoping they can address tax matters later. In truth, tax management should be an integral part of your business decisions and accounting reporting. It can be a source of value and build a healthy business culture, ensuring competitiveness in a regulated environment.

Tax audits can reveal discrepancies not evident in financial statements, leading to significant penalties. Grace Consult is committed to helping our clients adhere to tax regulations, preserving your company's value and cash flow. We offer insights into various tax scenarios through Tax Due Diligence or when facing a tax audit.

Facing substantial, unexpected tax penalties isn't easy. Many businesses opt for liquidation due to improper tax management, resulting in strained relationships with stakeholders. Grace Consult ensures that the work we provide to our clients is accountable and informs you of potential tax penalties and shortages, along with strategies to prevent future mistakes.

Blaming others and assuming that everything is fine without a well-structured plan can lead to misunderstandings and jeopardize your company's future. Transparency may be challenging, but recognizing room for improvement is essential for safeguarding your business's future.

Contact us if you want us to value your taxation (Tax Due Diligence) or are facing a Tax Audit from your Tax Office/Investor.

@2024 Grace Consult: Jasa Pelaporan Keuangan, Pelaporan Pajak, Akuntansi, Budget dan Standard Operating Procedures Services, Accountant, Consulting, Forecasting, Taxation, Accounting, Pembukuan, Jasa Akuntansi, Tax Due Diligence, Pemeriksaan Pajak

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