Behind the Scenes of Tax Audit
Rassure Success Stories Moment – episode 10
Airport taxes, charges and GST/VAT, are one of the most complex areas for ticketing in the airline industry. To get taxes audited with 100% of accuracy is, according to our clients feedback, a horror movie. While airlines do not gain from the tax collection, they have to manage the compliance risks. Airlines have been fined for improper collection of taxes.
But, how can you change the horror movie script and pass to a smooth and efficient Tax Audit?
Rassure’s RAX audit platform has one of the most powerful tax audit engines on the planet. In one of the recent audit results delivered to an airline client, Rassure detected ~50 refund violations related to an Egypt specific Tax where Rassure determined that the tax was non-refundable and the airline’s audit team believed that the tax was refundable. The airline claimed that their assumption was correct as it was based on standard proofs provided by IATA data.
Rassure immediately reviewed all the related data available in the most reliable Industry partners such as IATA and ATPCO and using its computation logic discovered that the Tax was refundable at one stage earlier. However, it was changed to non-refundable since last June 2021. On review, it is understandable for humans to miss such a tax update buried within a mass of other tax news. However, our data driven RAX platform showed the superiority of machine based auditing.
Once again we proved that the fully automated/data-driven approach will give you assurance that Rassure is in a great position to support you managing compliance risks and save resources, even in such painful areas.
Change to RAX and just enjoy your popcorn!
Not Detected, Not Seen, Lost Profit.
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