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Tax Audit

A tax audit is at the top of the list of difficulties that no business wants. A tax audit might induce panic regardless of how carefully you operate your business. Remember that a tax audit is merely an annoyance for most business owners. However, it would help if you were prepared for this inconvenience.


Why would the IRB Audit My Business?

Do not panic because the IRB has notified you that it will audit your business. IRB audit selection procedures do not necessarily indicate a problem. You may have been selected for an IRB audit because:

  • Making a claim for large amounts of tax refund

  • Using big data in accordance with the risk assessment criterion

  • On the basis of particular concerns that are

  • experienced by a certain category of taxpayers, such as the real estate development and manufacturing industries, as well as other sectors or

  • associated with a particular location.