What should you prepare when receiving a tax inspection decision at your unit?

Preparation steps when receiving a tax inspection decision at the unit

- Gather all output VAT invoices issued during the settlement period (eg: 5-year settlement only needs to bring data from those 5 years).

– List of purchased service invoices with all original input VAT invoices attached. For VAT invoices with a value of over 20 million, you should clip (or mark separately) with a payment authorization via bank. Particularly, photocopies of fixed asset invoices and costs constituting the cost price are attached to the VAT statement. Original invoices are stored in the Fixed Assets File and Warehouse Receipt.

– Monthly and quarterly tax declarations. Sort by year separately.

– Annual financial reports.

– Finalization of corporate income tax, PIT of all years.

– Report on invoice usage.

– Accounting books.

– Output and input purchase and sale contracts, debt reconciliation records for years. Note that attached to the contract is the record of goods delivery and contract liquidation.

– Personnel records include: Labor contracts of employees who pay social insurance, employees who do not pay social insurance but still have their names on the payroll. Note that the allowance section on the labor contract and the allowance column on the payroll must be the same. For example: Allowances: Position, fuel allowance... or write in general: According to company regulations. Attached are salary increase decisions, appointment decisions, or any decisions related to personnel.

– All receipts and payment slips are fully documented.

- Bank statements.

– Report on IMPORT – EXPORT – INVENTORY of goods.

– Social insurance records.

– Bank loan documents: loan contracts, guarantee contracts and bank guarantee letters.

– Look up input invoices to see if any businesses have run away or have fake invoices: tracuuhoadon.gdt.gov.vn

- In addition, accountants must also fully prepare all incoming and outgoing dispatches related to accounting work such as dispatches to taxes, banks, etc. And learn the relevant legal documents.

What do tax officials usually check and pay?

– Does the output invoice for each year match the revenue declared on the Business Results table? (Before that, accountants should also check themselves like this).

– Check input VAT invoices: The following situations will occur:

+ There will be a few (or many) tax businesses they refer to as escaped businesses => input invoices taken from that business will be eliminated. At this point, the accountant must use every argument to get that invoice accepted.

+ Therefore, accountants also need to check each input VAT contract by going online to look up information about the taxpayer to see if the business is still operating or has ceased operations.

+ Businesses will be excluded from many expenses that are considered invalid by Tax, such as: Receiving guests, purchasing assets and goods that do not comply with regulations.

+ If it is a commercial enterprise, the cost price and selling price will be checked. If any business has declared a selling price on the tax book that is lower than the actual price, please note: Before that, you should make a decision on the selling price with the company's stamp and in addition, ask another unit to also prepare a price quote. Similarly, the basis is that the company sold = market price.

+ For construction or installation companies, the tax will check the time of invoice issuance for each project. Request invoice to be issued at the time of acceptance and handover. If issued after many days, there will be a fine of 0.05% per day on the late payment tax amount.

+ If any company has a transaction office at a location other than the location on the Business Registration, it must have form 08 and a license tax payment receipt for that address.

+ When opening a new account at a bank, you must fill out form 08 to deposit taxes in full.

Expenses often go unnoticed and are easily overlooked tax settlement CIT

– Cars: If the car is registered in the company's name, invoices for gasoline purchases and vehicle repairs are allowed to be in the company's name, but not too many because if the company has low revenue, they will be eliminated. If the car is in the name of the Director or an individual, a loan or sublease contract must be made at a symbolic price so that the Director does not have to pay personal income tax.

– Household appliances such as televisions and refrigerators, if the company does not sell those items, will be difficult to explain and will also be excluded from expenses.

– If the enterprise has not contributed enough capital, it must account for Debt 1388/411 until it is fully collected, then account for Debt 112/1388.

- If a business has too much excess cash fund, it should make a few sales contracts and then make a deposit (pay money to the bank for transfer then ask the partner to withdraw it immediately in cash) or give it to a fish. loan director.

Experience in arranging documents scientifically and conveniently for the inspection team

– Receipt: Attached to the receipt includes:

+ Goods delivery invoice (green copy); Or

+ Other original documents, if any, goods delivery notes.

– Payment slip: Attached: Advance request, payment request with original invoice (if it is a VAT invoice, only attach a photocopy) and has a value < 20 million.

– Payment authorization: A document used to pay suppliers. For invoices worth 20 million or more, payment = CK is required, while documents < 20 million are not required but payment is still encouraged = CK. Documents accompanying the payment authorization are purchase invoice, VAT invoice (photocopy) + goods purchase and sale contract.

– Payment slip to the state budget: Currently, tax payments are made online, so you can download a copy of the payment slip and print it out to save as a document.

– Warehouse receipt: Attached documents are purchase invoice, VAT invoice (photocopy) + goods purchase and sale contract.

– Warehouse release note: Clip with output VAT invoice (copy 3)

– For rental invoices, if the value is < 100 million/year (fiscal year from January 1 to December 31), only the rental contract is needed (no notarization required).

– Fixed assets, allocation tools: Fixed asset purchase invoices, depreciation spreadsheet, tools spreadsheet and pending allocations.

– In addition, accountants also have to print all accounting books. Review with original documents. Complete documents.