Course Details
Members can now undergo continuing professional development at their own convenience
- OBJECTIVES
- CONTENTS
- 1. The fundamentals of tax risk;
- 2. How to identify, measure and manage tax risk;
- 3. How to profile business environment for tax purposes; and
- 4. Consequences of non–compliance with tax laws
1. Overview of Tax Risks – Transactional risk, operational risk, compliance risk and financial accounting risk;
2. Techniques for managing tax risks – Rigorous tax control environment – e.g. have tax returns filed on time and regular independent review of tax operations. Also, update relevant tax policies for example, tax payment policy;
3. Tax Obligations
- Registrations – VAT registration
- Disclosure
4. Tax queries and red flags
- Failure to keep adequate records
- Tax deductions - WHT
- Failure to make payment
- Failure to file tax returns
5. Tax compliance and effective Internal Control system
No Review
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