METHOD AND SYSTEM OF SELF-AUDITING FOR RECOVERING SALES TAX

摘要

This invention relates to a method and system of self-auditing for recoveringrefundable sales taxes, including but not limited to value-added (VAT), byperformingspecifically established tax compliance algorithmic functions. Businessentities areentitled to recover tax paid on purchased goods and services. The method andsystemallow the business to conduct self-audit on their own accounting system, whichcontains its business related accounts payable accounting transaction data inorder toextract specific data anomalies related to sales tax entitlements. The methodandsystem process and identify specific transaction details and calculatedifferentialmonetary currency tax recovery amounts that have been overlooked as taxentitlements or overpaid in error to vendors for their determination of theirnet taxowing to various government bodies.