Units of the Ministry of Finance intensify checks on tourist businesses. Is your business ready for an audit?Teams from the Ministry of Finance are intensifying controls on tourist businesses such as hotels, accommodation as well as catering. In the islands where the tourist traffic is increased, in the context of limiting tax evasion and tax avoidance and increasing the state budget collections, the auditing authorities carry out strict controls. Businesses understandably need to comply with the laws and of course be up to date on how their books of accounts are kept. The issuance of receipts for food businesses as well as profit fluctuations compared to previous years are the main reasons for the audit by the echelons of the Ministry of Finance. Businesses that show a negative gross profit or large differences in gross profit per year, with continuous losses and with a shift of inputs from the highest to the lowest VAT rate. is in the target of the control mechanisms. In order to determine the taxable material, the audit services apply the indirect control techniques, in essence, that is, they convert the purchases of A’ materials/merchandise into sales. Tax audits of tourist businessesCatering businesses as well as hotels that operate bars and restaurants need to have resolved these issues in preventive checks, which are a simulation of a regular check.In addition, hotels must pay close attention to the main current customer account monitoring system.The system for monitoring customers’ accounts during their stay at the hotel from arrival (perhaps even earlier if they have paid in advance) until their departure from the hotel is directly related to general accounting, since it is a source of revenue registration.In the daily main current balance, the day’s income, the day’s collections as well as the balance of resident customers from the previous day (from transfer) and their new balance (in transfer) are recorded in principle. This balance is used in the general accounting to record the income (it replaces the entries of the Sales Journal) as if it were the primary document.This entry is made collectively in General Accounting (total revenue by department), so that we do not “keep” the customers in detail in General Accounting. The balance of the account must agree daily with the account of the general ledger Customers Remaining so that the business does not have a problem in a possible tax audit.Capital Value arranges for its clients to carry out frequent preventive audits in order to prepare businesses for an extraordinary tax audit. In particular, we have specialized accounting and tax support solutions for hotels, as well as payroll management.