Managing zakat and tax obligations requires organized accounting records and an understanding of the organization’s activities and requirements. We begin by reviewing available information and identifying obligations, deadlines, and the appropriate scope.
What does compliance support include?
Support may include preparing and reviewing zakat and tax returns, calculating the zakat base, monitoring VAT and withholding tax, and organizing supporting records to suit the organization.
How can an organization prepare for a review?
Maintaining records, linking figures to supporting documents, and reviewing differences between returns and accounting records helps organizations respond clearly to information requests. Documenting relevant policies and treatments is also useful.
When should an organization seek advice?
An organization may need advice about an unusual transaction, a change in activities, an accounting treatment or obligation, or an audit or objection request. We define the support after reviewing the facts and available information.