Tax Compliance
- Social Sciences -
Finance & Accounting Dictionary
Definition
A tax and compliance concept defining obligations, calculations, and controls used to meet legal and regulatory requirements. It governs tax measurement, reporting, filings, and compliance checks related to financial integrity and prohibited activity screening. It does not eliminate regulatory risk and requires accurate data, documented procedures, and timely remediation of findings.
Tax Compliance
Social Sciences Dictionary
Definition
The set of processes, controls and actions required to compute taxes according to applicable tax rules, to prepare and file required returns and information reports, and to remit payments on prescribed schedules while retaining documentation sufficient to substantiate reported positions and claims.