Sales Tax Audit

What is the Sales Tax Audit?

According to the Finance Act 2018 of Sales Tax Audit of Pakistan, a Sales Audit should be conducted in each and every firm large or small after every three years. Basically, a Sales Tax Audit is done when a government wants to review all the details of the accounts related to any company. And for that reason, they send a person known as Auditor. And then that person will review detailed information about all the accounts and business status of that company. The main reason for this Audit Review is to find out any difference among the documents provided by the Government, Sales Tax paid to Government. First of all, the Government agency will send you a notice prior to the actual Audit date.

And in that notice, it will be mentioned that from which time period they are going to need an Audit report of your company. After that making, this audit report is not a single day process, but actually, it will take several days, or maybe more than a week as well depending on how large your firm is. Basically, this whole process is divided into two categories. In the first category, the auditor will compare your filed Sales Tax Returns with the ledger. And this whole process will cover up all the records, sales tax, bank transactions, and documentation. This process makes sure that all the Sales Tax Return Filed are perfect and in order. Then in next category, the auditor will gather all the additional information about your company that includes agreements, certifications, and Sales Tax License, or any other information that is still under review about your company.

Requirements

Company Existence

Business Name

Notice Prior to Audit

Sales Tax Return Filing in Order

Proper Documentation

Sales Tax Paid Properly

Solutions
  • We offer you to keep everything organized in your company and keep your documentation organized after the notice.

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