Tax Health Check reviews
As the name suggest, we engage taxpayers to peruse their records and transactions to ascertain that the required tax treatment is adhered to, otherwise we assess and measure with certainty the level of exposure. Deliverables of a tax health check would be a report of findings and computation of the outstanding taxes and penalties. We advise on how to resolve the matter and recommend the best way forward.
- Corporation tax
We check the tax computations together with expense schedules to ensure that all expenses that are not allowable have been adjusted and that all capital deductions have been claimed. We compare the income per computation with that declared in the VAT returns. We also check the correctness and timeliness of submitting the returns and reconciliation of tax statement of account.
- Withholding Tax
We ensure that withholding tax has been correctly deducted, accounted for and remitted on a timely basis to the tax authorities in respect of all eligible invoices and agreements entered into.
We review the purchases day book, cash book and other similar records to identify invoices or payments that are subject to withholding tax and ensure that the same has been done and paid on time.
We review the VAT control accounts to ensure that all output taxes have been declared and all eligible input tax has been claimed. We compare sales per VAT returns with accounts for variances. We check the correctness and timeliness of VAT declaration.
We ensure that all cash and non-cash emoluments provided to staff and management have been disclosed and taxed. We ensure from the sample selected that the payroll agrees to the PAYE records and the employment contracts. We ensure that PAYE, NSSF and NHIF are correctly computed and paid on time. We also ensure that all the returns were submitted on time.
We examine all the payroll records including the staff files to ensure all emoluments are declared. We also recalculate the taxes to ensure correct tax rates have been used.
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