Tax Reconciliations are routine tasks which every business filing regular returns and complying with other tax regulations performs on regular basis.
Tax reconciliations have gained much importance in the era of technologically driven reporting of business transactions by the businesses and while at the same time robust technology deployed by the tax authorities in engaging with tax payers including verifying the information submitted, communicating with tax payers, seeking answers and taking decisions.
The modern era is witnessing high volumes of business transactions having multiple complications in their nature and type which in itself is a big challenge for any business or tax administrator. In this context, tax reconciliations gain much prominence as these high volumes of transactions with multi-faceted nature and type have to be analysed and reported.
MIA has developed a technology driven methodology to perform timely reconciliations of data extracted for tax reporting vis a vis data involved in financial reporting. This will avoid submission of misleading information to the tax authorities thereby avoiding unnecessary litigations.
MIA also has active team that supports enquiries from Tax department on differences in tax reporting.
MIA provides end to end solutions in tax reconciliations. Please feel free to contact us should you have any queries.