BCMS

Ensure CIT and TOT Are Calculated Filed and Paid on Time

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Objective

Ensure CIT and TOT positions are based on current rules, reconciled records and documented treatment and are independently reviewed, filed and paid on time.

Control Activity

Finance prepares each CIT and TOT return from reconciled ledgers and controlled classifications. A reviewer independent of preparation verifies the source, period, rate, exemptions, calculation, prior balance, filing and payment. Authorized approvers release submissions and payments, and Finance reconciles acceptance and bank evidence to the ledger.

Evidence

  • Expected evidence: Current source, rate and deadline confirmation
  • Expected evidence: CIT workpapers, return and advance payments
  • Expected evidence: TOT workpapers, classifications and monthly returns, including nil returns
  • Expected evidence: Tax-control-account reconciliation
  • Expected evidence: Independent review and approval
  • Expected evidence: Filing acceptance and payment confirmation
  • Expected evidence: Assessment, amendment and correspondence log
  • Evidence location: source evidence in SYS-FIN-001 Odoo Accounting ERP, SYS-ECM-002 Compliance Reporting and Evidence Repository; target Hermes assessment record in Odoo under ISS-HERMES-001.
  • Retention: according to the applicable approved policy and Bitkaya record-retention requirements.
  • Testing method: sample returns and trace current rule, source data, calculation, classification, review, filing, payment and ledger posting
  • Testing frequency: monthly for TOT; quarterly or annual for CIT obligations as applicable; quarterly second-line sample

Assurance

Runtime effectiveness results are maintained in Odoo and assessed through the Hermes workflow tracked in ISS-HERMES-001. This note defines design, ownership, evidence expectations and testing method; it does not contain a manually maintained operation, evidence or overall effectiveness rating.

  • Design status: implemented

History

  • 2026-07-26: Normalized evidence metadata and separated design status from runtime effectiveness.
  • 2026-07-26: Created from the approved FIN Manual.

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