
Managing tax audits
The companies should consider preparing ahead of time for an audit, as failure to do so may cause substantial financial costs and disputes with the authorities.
Over the past few years, we have been witnessing an increase in audit activities in relation to companies across different industries. Due to the unfolding effects of the global economic crisis and inherent problems in the Serbian economy and the resulting strain on the budget, it is likely that tax officials will become increasingly “aggressive” in their dealings with corporate taxpayers.
The companies should consider preparing ahead of time for an audit, as failure to do so may cause substantial financial costs and disputes with the authorities.
The Voluntary Disclosures Program (VDP) allows taxpayers to come forward and correct a mistake, inaccurate or incomplete information or to disclose information they have not reported during previous dealings with the Tax Authorities without penalty or prosecution.
You should consider appealing if you suspect that rules or procedures have not been followed by the authorities. What can and cannot be appealed against varies widely. Appeals have many forms, depending on the issue, and must be filed according to specific instructions and timelines.