Received a tax inspection notice? Here's how to prepare

A tax inspection is a normal procedure, and good preparation shortens it and reduces the chance of additional assessments.

Before you start

• Read the notice carefully and note the periods, the documents requested and the deadline.
• Assign one person to be responsible for communicating with the Authority.

Prepare your file

• Reconcile the filed returns with the books and financial statements for the same periods.
• Gather the tax invoices for major sales and purchases.
• Prepare a written explanation for any difference or unusual transaction.

During the inspection

• Meet the deadlines, and ask for an extension early if you need one.
• Provide only what is requested, in a clear and organized way.
• Keep a copy of everything you submit, with its date.