In the business world, proper tax management is vital to ensure regulatory compliance, avoid penalties, and optimize the tax burden legally and strategically. However, many companies in Peru continue to make mistakes that can lead to financial, legal, and operational problems. In this article, we will address the most common mistakes in tax management and how to avoid them with the support of experts in accounting and tax consulting in Lima, such as those offered by VAG Global, recognized for providing the best tax consulting in Lima.
1. Lack of knowledge of current tax regulations
One of the most frequent mistakes is not keeping up to date with changes in tax laws. Ongoing tax and accounting advice is essential to keep up to date with tax regulations, avoiding non-compliance that could lead to fines or audits.
Having tax lawyers and accountants specializing in taxes allows companies to properly comply with their tax obligations, whether in relation to VAT, income tax, payments on account, withholdings, or collections.
2. Not conducting regular accounting and financial audits
Financial audits are key to detecting errors in records, imbalances, or internal fraud. Ignoring this practice can lead to tax omissions or inconsistencies with SUNAT.
The recommendation is to hire accounting audit services or a tax audit, as they help identify areas for improvement and tax risks. At VAG Global, internal audit services, financial audit services, and external audit services are designed to optimize tax management for companies of all sizes. In addition, they offer specialized advice on the price of an external audit according to the size and complexity of your company.
3. Errors in tax returns
Another common mistake is filing incomplete returns or returns with calculation errors, often due to a lack of internal review or the improper use of accounting software.
Proper accounting and business advice in Peru prevents these types of mistakes. Companies that hire monthly accounting and tax services have greater control over their accounting and returns, minimizing risks. In addition, there are now affordable solutions with accounting service costs for private companies that allow for efficient financial management without incurring high expenses.
4. Lack of tax planning
Tax planning allows companies to take advantage of deductions and tax benefits. Without a clear strategy, many organizations end up paying more taxes than necessary.
Experts in Tax Consulting and comprehensive tax advice provide customized strategies that help reduce the tax burden without breaking the law. VAG Global offers this type of specialized consulting through corporate legal services that combine accounting and legal aspects.
5. Poor document management and accounting records
Poor document management can lead to problems during an audit. It is essential to keep receipts, accounting records, and electronic books properly filed and updated.
A company that has professional accounting advisory services will avoid this type of omission. Through legal advisory services for companies and corporate legal services for companies, such as those offered by VAG Global, proper comprehensive management of both accounting and legal documentation is guaranteed.
6. Ignoring SUNAT requirements
Many companies make the mistake of not responding to SUNAT requirements in a timely manner or doing so without the support of a professional. This can lead to unnecessary penalties or a perception of tax evasion.
VAG Global‘s corporate legal services are designed to provide adequate defense against tax audits and requirements, backed by its team of highly trained tax attorneys.
7. Ignorance of the real costs of consulting
There is a misconception that hiring tax advice is expensive. However, in the accounting advisory service, the price can be adapted to the size and needs of the business. The most expensive thing for a company is to receive fines for avoidable errors.
That is why companies such as VAG Global offer advisory and filing services for companies in Peru, with scalable plans, personalized attention, and the possibility of consulting the costs of accounting and tax services in advance.
Conclusion
Tax management should not be taken lightly. Seemingly minor errors can have a devastating impact on the financial and legal health of a company. From tax consulting to accounting and financial auditing, every step must be supported by trained professionals who understand the Peruvian tax environment.
With the support of VAG Global, a company specializing in Tax Consulting Lima, your company can avoid these common mistakes and move forward with a solid, efficient, and legally supported tax structure. Trust our corporate lawyers in Peru, experts in accounting and tax consulting, and optimize your organization’s tax health today.
For more information, write to us at:
contacto@vag-global.com Or call:+511 436 4612