Tax audit is the general term for inspection and processing undertaken by tax authorities on taxpayers and withholding agents to fulfill tax obligations, withholding tax obligations according to law. This includes routine audits, special audits, and project audits. Conventional audits and anti-avoidance tasks are launched by tax authorities every year, which often makes companies exposed to risk. In 2009, due to the financial crisis, the State Administration of Taxation (SAT) launched two tax "self-examinations" on large-scale enterprises — touching three tax years from 2005 to 2007 and covering all taxes — which set off a nationwide tax audit storm. In addition, the inspected companies are often required to pay taxes, late payment surcharges and penalties with high tax costs. It is really a big challenge for enterprises to deal with audit tax authorities and reduce tax-related risks. Thus, it is obviously crucial to understand the tax audit so as to prevent and control tax risk in daily operation.
This course will step into processes, procedures, methods and key points of tax audits and analyze the tax risks and control in daily operation to equip participants with the ability to deal with tax audits and reduce tax-related costs and risks.
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