Officials take aim at fuzzy accounting | Bangkok Post: business

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Officials take aim at fuzzy accounting

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The Revenue Department will give accounting firms a checklist for screening client tax filings to prevent understatement of profits and underpayment of corporate income tax. 

The checklist will be used to determine whether tax calculations meet standards and to spot irregularities such as improperly booked expenses and sales, said director-general Prasong Poontaneat.

"Should we find anything unusual in the tax filings of 27 out of an accounting firm's 30 customers, we will backtrack to which company has been in charge of arranging such troubled tax filings and all customers of that firm will be inspected," Mr Prasong told a meeting this week of 700 representatives from accounting firms.

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