Is your company prepared for potential tax compliance audits from the KRA?
In recent times, the Kenya Revenue Authority (KRA) has intensified its efforts in conducting tax compliance audits on various companies, often resulting in additional assessments and back taxes. These audits can be time-consuming and complex, posing significant challenges for businesses. However, there are proactive measures that companies can take to mitigate their tax exposures and ensure compliance with tax laws and regulations.
One such measure is conducting a tax health check—an in-depth review of the company's tax affairs to assess its compliance status and quantify any potential exposures. This proactive approach allows businesses to identify areas of non-compliance and take corrective action before they are subject to audits by the KRA.
During a tax health check, our expert team evaluates all aspects of your company's tax compliance, including income tax, VAT, PAYE, and other relevant taxes. We thoroughly examine your financial records, transactions, and reporting processes to identify any discrepancies or areas of concern.
Based on our findings, we provide tailored recommendations on how to mitigate current and future tax exposures effectively. These recommendations may include implementing internal controls, updating accounting practices, or restructuring your tax strategy to optimize tax efficiency.
Furthermore, the insights gained from a tax health check can inform strategic tax planning initiatives, helping your company minimize tax liabilities and maximize savings. By proactively addressing compliance issues, businesses can avoid costly penalties, fines, and reputational damage associated with non-compliance.
Ready to safeguard your company against tax exposures?
Contact Simtax Business Solution experienced tax service team today to schedule a comprehensive tax health check and take proactive steps towards enhancing your company's compliance status.
Your peace of mind is our priority.
