The client faced a tax audit by the national revenue authority and was concerned about compliance issues related to international investments and offshore accounts. The formal audit process was pending for the client even though they had been managing their own tax planning and accounting.
Our team conducted a comprehensive review of the client’s financial status, tax filings, and investment holdings. Our tax experts team discovered that the client had underreported certain international income and hadn’t fully complied with the KRA regulations.
Geal & Associates LLP worked with the client to gather the required documentation, refile previous tax returns, and negotiate with the revenue authority to resolve inconsistencies. We also developed a tax strategy to minimize future liability, taking advantage of tax credits, deductions, and international tax treaties.
Results
- The client effectively navigated the audit with slight penalties.
- Our team helped the client to streamline certain investments to achieve better tax efficiency.
- Ongoing tax planning reduced the client’s overall tax burden in subsequent years.
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