Most Businesses Think They’re Compliant… Until They’re Audited

追加: 2026-05-25

[00:00:00]So, >> [music] >> if I could choose maybe five people in business owners, um >> [music] >> can anyone raise their hand if they've actually been audited by the federal tax authority?

[00:00:12]In a room of over 300 people, [music] I've seen about three hands.

[00:00:17]What if I can guarantee you within the next 5 years [music] you're going to be audited and what you have done in the last 10 years will be relevant.

[00:00:24]>> [music] >> Does that scare you? Yes. And I don't think I'm doing anything about where are the biggest mistakes so [music] where are the biggest gaps?

[00:00:31]Most um most non-compliance, I won't say mistakes, [music] um people where they lack awareness is that they are actually claiming back taxes that they're not legally or technically [music] allowed to claim yet and that um you're not paying your [music] tax on time. Now, you think you are system-wise, but when it comes to record-keeping requirements and actually tracking the correct [music] application of when tax is payable and when tax is claimable, that is where most companies go wrong. Now, that is on an indirect tax level.

[00:01:03]Um what we've seen in the last [music] 18 months on a corporate tax level is that a lot of companies, especially companies who don't realize they're related to each other. For those companies having multiple um related or sister companies, a lot of them are not applying transfer [music] pricing correctly, they're not doing the correct benchmarking, they're not doing the right arm's length >> [music] >> calculations. So, many of you think you're fine until you go for a checkup. So, I always stress that before the FTA [music] comes and knocks on your door, check yourself internally because a 5% penalty is much better than a 50% penalty. So,