GST or VAT Analysis
The GST / VAT Transactional Compliance Analysis reviews GST / VAT processing on debit and credit transactions in Accounts Payable and Accounts Receivable transactions. This is a compliance activity to identify transactions incorrectly processed and differs from other GST / VAT reviews in that it involves a specialised data mining analysis of all transactions and systems. This service complements other compliance activities (such as system mapping, walk-throughs and staff interviews) as applied by your local taxation office.
Benefits of the analysis include:
- detailed listing of non-compliant and GST / VAT transactional processing errors
- provides effective management information regarding the accuracy of GST / VAT transactional processing
- produces tailored reports outlining areas of non-compliance, with suggested system and procedural improvements
- recommendations of process optimization and system improvements, comparing your results against best practice systems and Stock Keeping Units (SKUs)
- demonstrates a proactive approach to GST / VAT compliance in the event of taxation reviews or analysis
- provides insight into non-compliant areas, with suggested system and procedural improvements to mitigate future inaccuracies and avoid taxation interruptions
- provides a comprehensive range of statistical reports which can complement your internal reporting functions, and are tailored to communicate findings based on specific needs and requirements
- Profectus offers success based or fee for service options.