System will flag firms not sending data
The lack of an early warning system in the tax administration’s electronic data transmission system, and in particular receipts, resulted in a company not being detected by the Independent Authority for Public Revenue (AADE) for a period of six months.
The data existed in the electronic system, but the audit would have to be targeted to identify the breach. There are likely to be other companies that are slow to transmit, despite the fact that for many companies the obligation is to send the data in real time and for others in 24 hours.
According to tax administration sources, the system is being upgraded and soon businesses that do not send documents to the AADE e-send electronic system will be flagged.
Essentially, the auditors will be able to know which businesses have sent the necessary data required by law. That does not mean that alert in AADE will make the auditors rush to check; this is because a number of criteria are evaluated, such as whether it is a seasonal company etc, while for example a small business may remain closed due to illness of the entrepreneur.
