IOTA recently held a workshop "Real Time Audit Approaches towards Modernizing Tax Audit" in Helsinki, Finland.
The workshop was jointly organized by IOTA and the Finnish Tax Administration. The objective of this workshop was to provide officials working in the field of real time audit the opportunity to share developments, concerns and best practice of their administration's approach to real time interventions.
There was a lot of exchanging of ideas and discussion on different working methods. The main conclusion of the workshop was that there was no common definition of "Real Time Audit" applicable to all IOTA member tax administrations. In some countries RTA was simply the audit of the most current period of 1 to 3 months rather than the legislated audit period of the previous 3 years, while other countries considered it to be "Real Time Activity" such as proactive guidance, education and the checking of a transaction prior to declaration to the tax administration.
Full details of the presentations, topics discussed and the comments from the group sessions are available on our website for registered users.