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Discover the common pitfalls businesses face when preparing their own GST returns and how DVA can help.
Preparing GST returns can be a complex and time-consuming process. From understanding different tax codes to the ever-changing tax laws and regulations, businesses often struggle to navigate the complexities of GST return preparation. The constant need for awareness and understanding can be overwhelming, especially for those without a professional accountant's help.
Pain Points of Doing Your GST Preparation
Complexity and Time Consumption: As your business grows, so does the complexity of handling handling GST. Regulations could be intricate and GST preparation and filing could be more time-consuming. This can take you away from your core operations.
Risk of Errors: Mistakes in GST calculations can lead to penalties, fines, and even audits by the IRD. Without a professional's eye, it's easy to overlook critical details.
Constant Changes in Legislation: GST laws are frequently updated. Staying on top of these changes requires ongoing education and vigilance, which can be overwhelming for business owners.
Record Keeping and Documentation: Proper documentation and meticulous record-keeping are essential for GST compliance. Mismanagement of records can result in discrepancies and compliance issues.
Errors in GST return preparation can have significant consequences, including financial penalties and reputational damage. This can also lead to overpaying or underpaying taxes, affecting your cash flow and business's finances.
How Our Services Can Help
At DVA, we specialise in providing GST registration, return preparation and filing services for NZ businesses. Our expertise allows our clients to save valuable time and resources, enabling them to focus on their core operations. We guarantee accurate and on-time filing of returns, minimising the risk of penalties and fines.
From initial GST registration to ongoing return preparation and filing, we provide end-to-end support tailored to your business needs. Our "Proactive" approach means you stay ahead of compliance issues.
Contact us today to learn more about how we can assist your business.
