Tax Parameterization
Tax and accounting reprocessing: when to do it?
Tax and accounting reprocessing is something a company should not need to do. However, it is a very useful tool in case of errors in the transit process and delivery of accessory obligations, something that is still common to happen, either due to inattention or negligence. When these failures occur, such as, for example, obligations that were not delivered or delivered blank, companies can be targeted by the tax authorities and be penalized financially and legally. It is precisely at this point that an internal audit can point the way to correcting these inconsistencies, which are repaired with tax and accounting reprocessing to regularize the company's situation before the tax authorities.
Reprocessing serves precisely to fix what was crooked in a company's accounting past. However, this is sometimes not possible due to failure to record this documentation and lack of information for the period to be reprocessed. However, once this becomes possible, reprocessing becomes very necessary.
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This functionality is indicated to all companies that have flaws or uncertainties about the information of ancillary obligations within the fiscal period, which is five years prior to the current year. Whenever possible, it is recommended to carry out this audit and reprocessing in order to maintain a company's tax compliance. For this, the indication is to have good tax software that is capable of identifying and correcting these discrepancies. In this case, Auditto is fully capable of carrying out these actions safely and quickly.
Who is tax and accounting reprocessing suitable for? And when should it be done?
What are the issues that cause the need for reprocessing?
The problems that lead to reprocessing are varied: inconsistency between statements, absence of company information compared to what the tax authorities have in the systems, lack of documents for the fiscal period (5 years) and even specific needs, such as some incongruous information that may prevent the issuance of a positive certificate for the company, for example.
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Often, in these cases, it happens that the tax systems do not identify these failures, only recording that something was delivered (in the case of accessory obligations via SPED). But, if for some reason this is identified by the Tax Authorities, the body may initiate an inspection procedure and/or the issuance of infraction notices. Therefore, it is necessary to carry out tax and accounting reprocessing for the complete regularization of the obligations.
The benefits are already known in this environment, such as the certainty that the company has no doubts about what has been informed, the security of being able to make investments and the peace of mind not to be taken by surprise by the tax authorities or to receive a tax assessment. We can also mention the concrete possibility of a solid growth of the company and the viability of sales, purchases or financing since the enterprise does not have any claim or debt with the Tax Authorities. The main benefit is the peace of the company in relation to the tax part.
What are the benefits of reprocessing?
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