What belongs in the binder before a CIT application audit
A practical packing list for finance teams handing over a corporate income tax reporting application for independent review.
A clean corporate income tax reporting application still needs a trail. When we open a binder for a year-end review, these are the items that prevent the first week from becoming a scavenger hunt.
Core drafts
- The draft CIT application and computation schedules
- Trial balance at year-end and the prior-year comparative
- Fixed-asset register with tax depreciation columns
- Schedule of permanent and temporary differences your accountant already drafted
Support that actually gets read
Entertainment, related-party charges, and director fees generate more questions than revenue totals. Put contracts, board minutes, and invoice samples behind those lines, not behind every petty-cash slip.
Revenue Department paper
Prior assessments, installment notices, and correspondence about open queries belong in a separate tab. Reviewers use them to see which explanations you have already given — and which you should not contradict.
How to hand it over
Number the tabs. Name files with entity, period, and document type. A shared folder with twenty identically named “final_v3.pdf” files costs more calendar days than printing a one-page index.
If you want us to walk the binder with you before kickoff, mention that on the contact form.