Tax

Full Attestation

Full attestation services involve the examination of a company's accounts and financial statements to ensure compliance with tax laws and regulations. Conducted by a Certified Public Accountant (CPA), a full attestation service and the resulting report provide assurance to the government that the company's corporate tax return is in accordance with tax legislation. The full attestation service aims to identify potential tax risks in advance and eliminate them before a possible tax audit. In addition, consulting services are provided on the application of incentives and deductions provided for in the law during the audits.

While obtaining full attestation services is not a legal requirement, it offers several advantages for many businesses:

• Significantly reduces tax risks: Full attestation service helps identify and address potential tax risks early on, minimizing the likelihood of penalties and disputes with tax authorities.

• Enables tax incentives and planning: S-CPAs can guide businesses in utilizing available tax incentives and planning strategies to optimize their tax liabilities and maximize tax savings.

• Enhances credibility and facilitates tax audits: Tax returns and financial statements certified by S-CPAs are considered pre-examined documents by tax administration officials, expediting and simplifying tax audits.

• Prioritizes tax audits for compliant companies: The law prioritizes tax audits for companies that have undergone full tax verification, reducing the likelihood of unnecessary audits.

• Streamlines investment and R&D deductions: Separate reports are not required for the verification of investment and R&D deductions for these companies.

• Facilitates VAT refunds without limits: These companies can claim VAT refunds without any amount limit based on the CPA's verification report.

• Exempts from mandatory tax consultancy contracts: Companies that undergo full tax verification are exempt from the mandatory requirement to sign a tax consultancy contract.

In summary, full attestation service offers a valuable tool for businesses seeking to enhance tax compliance, minimize tax risks, optimize tax benefits, and streamline interactions with tax authorities. By engaging a CPA for full attestation service, businesses can gain peace of mind, improve their financial standing, and focus on their core operations.

Please note that tax laws and regulations may vary depending on the jurisdiction. It is always advisable to consult with tax professionals to ensure compliance and optimize tax strategies.

The full attestation service is generally provided specifically for corporate tax. In other words, the fiscal responsibility of a sworn financial advisor (YMM) who signs a full attestation contract is limited to provisional and annual tax returns. However, it is not feasible to consider VAT and withholding tax returns as independent from the provisional and annual corporate tax returns. It should be noted that documents included in VAT and withholding tax returns reflect income, expenses, costs, or capitalized assets. Therefore, a quality full certification service should be performed on a monthly basis. Inspections conducted every three months instead of monthly are often insufficient.

Clients receiving full attestation services are also provided with general tax consultancy services. The most significant difference between general tax consultancy and full attestation services is the fiscal responsibility of the sworn financial advisor before the tax office. Full certification services include fiscal responsibility.