Avoid These 7 Mistakes When Filing Monthly Tax Returns in Georgia

Filing monthly tax returns in Georgia is a critical responsibility for businesses and individual entrepreneurs. The Revenue Service's online portal, RS.ge, facilitates this process, but errors can still occur, leading to penalties or compliance issues. At TaxAdvisory.ge, we specialize in helping clients navigate these challenges. Here are seven common mistakes to avoid:

 

1. Incorrect Tax Period Selection

Selecting the wrong tax period when submitting declarations on RS.ge can result in misreported data and potential fines. Always double-check the reporting period before submission.

 

2. Misclassification of Income or Expenses

Accurate categorization of income and expenses is vital. Misclassifications can affect your tax liability and may raise red flags during audits.

 

 

3. Omitting Required Attachments

Certain declarations require supporting documents. Failing to attach necessary files can lead to incomplete submissions and potential penalties.

 

4. Mathematical Errors

Manual calculations increase the risk of errors. Utilize reliable accounting software or consult with professionals to ensure accuracy.

 

5. Late Submissions

Missing the filing deadline can lead to penalties. Mark your calendar with important tax dates and consider setting reminders to ensure timely submissions.

 

6. Incorrect Bank Account Details

Providing wrong bank account information can delay tax refunds or payments. Verify your bank details before submitting your tax return.

 

7. Neglecting to Review Submission Confirmation

After submitting your tax return electronically via RS.ge, ensure you receive and review the confirmation receipt. This serves as proof of submission and is essential for your records.

 

How TaxAdvisory.ge Can Assist

Navigating tax filings can be daunting, but you don't have to do it alone. Our services include:

• Monthly Tax Filing Assistance: We handle the preparation and submission of your monthly tax returns, ensuring accuracy and compliance.
• RS.ge Portal Management: Our team is proficient in using the RS.ge system, reducing the likelihood of technical errors.
• Document Verification: We review all your financial documents to ensure they meet the necessary standards before submission.
• Deadline Tracking: We keep track of all your tax deadlines, sending reminders and ensuring timely filings.
• Consultation Services: Our experts are available to answer any tax-related questions and provide guidance tailored to your business needs.
• Licensed Auditor Services: Our certified auditors, recognized by the Georgian Federation of Professional Accountants and Auditors (GFPAA), provide independent audits to ensure compliance with national and international standards.

 

Contact Us

Avoid the stress and potential penalties associated with tax filing errors. Reach out to TaxAdvisory.ge today for professional assistance and peace of mind.