Standard Audit Files And Your Audit Trail

The use of Standard Audit File as a means of exporting accurate tax accounting data to tax authorities is the new EU / Global trend. In such way it can be analyzed easily. A VAT a pilot is currently under development with One Stop Shop re electronic services etc.

What if there are glitches in your data, input errors, empty fields, awkward descriptions in fields or apparent inconsistencies?

A checklist re submitting data to the tax authorities

Have you analyzed the data and performed a tax risk assessment?

What are the tax authorities doing with this data: perform data analysis?

Does not meeting the requirement result in a higher risk of a tax audit?

What are the KPIs of the tax authorities?

If not impacting the present does the company show a audit trail that can be retroactively be investigated and backfire to tax position taken (ammunition for contra arguments, increase of penalties)

If the data provided does not meet the required data format could this result in a higher risk of a tax audit?

To avoid unforeseen risks or mitigate this risk is it not necessary to perform a data analysis prior to submitting data, as an internal pre-audit?

Do you Agree? Anything forgotten?

See Sections for additional details:
Standard Audit File for Tax solution
Tax Authorities Peeking At Your Data
A Roadmap to a sound 'Audit Defense' Strategy