We strive for supporting our clients in making correct and effective VAT settlements. The aim of tax review in VAT is to identify the potential areas of risk that may give rise to additional costs for the company and result in penal fiscal liability of the staff responsible for tax settlements.

How we can help

Depending on your organization’s needs, the focus of the tax review may be on:

  • verification of the Company’s methodology for settlement and recording of individual types of transactions, based on the analysis of a cross-sectional sample of documents (which gives the possibility of capturing potential "system errors", e.g. in terms of determining tax point for specific transactions or identifying transactions that require detailed analysis, such as chain transactions);

  • verification whether the amendments to tax regulations has been taken into account accordingly;

  • analysis of VAT settlements of selected important / unusual transactions;

  • simulation of control activities performed by tax authorities before the planned application for a VAT refund or introducing a change to the existing business model (which may impact the structure of reported transactions);

  • review of a selected area of VAT settlements, e.g. in terms of compliance of invoicing, the VAT rates used etc.

Findings form the review conducted by KPMG experts are provided in the form of a report in which:

  • errors and irregularities pertaining to VAT settlements found during the review are presented;

  • the level of risk for VAT settlements being challenged by tax authorities is assessed;

  • potential areas for process improvement or tax savings are indicated;

  • practical recommendations for changing the method of making settlements or implementing solutions to mitigate the risk incumbent on the existing settlement methods are made.

See also