TAX ASPECT OF ORGANIZATION OF ACCOUNTING AND AUDIT OF VALUE ADDED TAX

Abstract

The focal point of this article centers on a meticulous exploration of the tax dimension encompassing Value Added Tax (VAT) accounting and auditing practices. Within the fiscal framework of Ukraine, VAT stands tall as a linchpin, wielding significant influence over the state budget. Nevertheless, it remains ensnared in a web of administrative intricacies, often leading to protracted legal wrangling and disputes. This paradoxical position of VAT - simultaneously indispensable yet profoundly problematic - necessitates a thorough examination of its operational intricacies. As the bedrock of Ukraine's fiscal landscape, VAT demands a dynamic and adaptive approach to compliance, a principle underscored by the International Standards on Auditing (ISAs). These standards, although globally recognized, require contextual calibration to navigate the evolving terrain of legislative requisites and practical application. Thus, the article contends that the effective implementation of ISAs in VAT accounting and auditing is contingent on an astute understanding of these dynamic interplays. Turning our attention to the methodologies underpinning VAT accounting and auditing, a comprehensive analysis is warranted. This entails not only the meticulous scrutiny of transactions but also a discerning eye for potential infractions and an acute evaluation of business risks for taxpayers. By establishing a robust framework for identifying irregularities, auditors can proactively mitigate risks and enhance the integrity of VAT compliance. In the quest for precision and reliability, the article proffers invaluable insights into fortifying the verification process for this pivotal tax. An innovative framework, delineating the intricate web of VAT audit information sources, takes center stage. This architectural blueprint, accompanied by a meticulously crafted algorithm, streamlines the process of data aggregation and evaluation. Consequently, it not only expedites the audit process but also illuminates the most prevalent and consequential errors that surface in the financial and tax reporting of taxpayers. In summation, this comprehensive analysis serves as a compass, charting a course for refining VAT accounting and auditing practices within the real economic sector of Ukraine. By dissecting the operational intricacies and emphasizing the adaptive application of ISAs, the article lays the foundation for a more robust and resilient VAT compliance framework, promising substantial benefits for Ukraine's economic landscape.