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Audits: Don’t let one ruin your year

It’s one of the most dreaded letters any business person receives. It starts innocently enough, “Dear Taxpayer, while processing your return, we noticed a few issues which raised questions…” and then the dreaded word appears: Audit. You just know that a tax inspector is going to want to look over everything. Your sales data, your books, your records, everything. They’re going to look for mistakes and try to squeeze every last cent from you. It’s bad enough that it could happen in your home country, but then you realize, your business is international commerce. You could be audited by any number of foreign tax offices as well.

Source: simplyvat.com

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