Tax audit, compliance and optimization of company taxation
What is a tax audit?
Tax audit involves analyzing the company’s taxation, particularly through a study of tax returns and annual accounts, to detect and correct any errors in its taxation.
Tax audit also has an optimizing dimension, as it allows the tax lawyer to advise the company on tax optimization schemes to improve its net profitability.
Who can be affected by a tax audit?
Tax audit applies to all companies, regardless of their legal form and size: sole proprietorship, LLC, SAS, SME, group of companies, or multinational.
What is the use and purpose of a tax audit?
Tax audit has several purposes.
Firstly, tax audit aims to bring the company’s taxation into compliance with current tax legislation. Tax compliance allows the company to secure its taxation by reducing the risk of a tax audit. The tax audit thus aims to identify the tax risk for better control.
Secondly, tax audit will consider appropriate tax optimization solutions. Tax audit then serves as the gateway to advisory services.
When to carry out a tax audit?
Tax audit can be conducted on an ad-hoc basis, for example, on the occasion of a specific operation such as an acquisition, a sale, or a corporate restructuring.
Most often, tax audit is conducted annually to ensure both the company’s compliance with changes in tax legislation and the effective management of taxation by taking the most advantageous paths to improve the company’s profitability.
Who can carry out a tax audit?
Tax audit must be carried out by a tax professional.
Specialized in tax law, the tax lawyer is the essential interlocutor for conducting a tax audit.
The tax lawyers at LEXPERTAX are specialized in conducting tax audits for businesses.