Value Added Tax

 

Getting Started

 

Resources

 

Forms/Guides

 

Managing

Your VAT

 

Audit Visits

 

FAQs

 
                           
                           

AUDIT VISITS

   

WHAT HAPPENS DURING AN AUDIT & ASSURANCE VISIT?

 

As officers strive to achieve the objectives of the assurance visits, each officer will be required to conduct an interview with the aid of a questionnaire to:

  • Verify taxpayer’s registration information
  • Establish an understanding of the taxpayer’s operation
  • Ascertain an understanding of the taxpayer’s accounting system
  • Verify that the accounting system is calculating VAT correctly for all types of goods or services
  • Formulate an assessment of your audit risk to determine the level of testing required to verify your tax Return and
  • Assess non-business transactions and its impact upon your tax return

 

Officers will also use their Analytical Skills to:

  • Check banking records
  • Compare VAT Returns submitted by the registered taxpayer with the records kept by the registered taxpayer
  • Confirm purchases and sales records and
  • Review input tax deductions for appropriate supporting documentation

 

Discussing Issues

During the assurance visit, the tax officer will discuss identifiable issues with you. At any time, you may raise your concerns with the officer and seek clarification.

     
                           

Share this post

Submit to FacebookSubmit to Twitter
Ⓒ2013 Inland Revenue Department, Government of Saint Lucia.