Tax legislation worldwide keeps changing which makes it difficult to be up-to-date about the latest tax laws.
Our tax review can help you align your company's tax accounting with the latest legislation, find tax efficient approaches, identify tax risks your business is exposed to and suggest sound strategies for managing the risks.
SMAR Outsourcing Solutions tax advisers have in-depth knowledge in tax legislation and actual circumstances, significant experience with financial audits and practical knowledge in the areas of interest of the tax authority. We can help you align your company's tax accounting with the latest legislation, define the most pertinent tax issues for your business to succeed and reduce your tax expenses.
Addressing your needs
The scope of our risk assessment engagement may include conducting tax due diligence, a tax review, risk-based tax review or full-scale tax review based on a thorough review of documentation.
SMAR Outsourcing Solutions tax review is tailored to address your company’s specific needs by considering its business volume and industry and assigning appropriately qualified professionals to get the job done.
During a tax review, the following issues are evaluated:
- Corporate income tax (taxation of expenses, documentation, and possible alternatives for reducing tax expenses)
- VAT (VAT and input VAT accounting, tax rates, documentation, etc.)
- Withholding Tax (tax rates, allowances, documentation, etc.)
- Transfer pricing (transactions with related parties and non-resident individuals and legal entities)
- Payroll accounting (tax accounting procedure, employment contracts and other documents)
- Customs and excise (issues related to international trade and excise goods)
The review concludes with the report containing:
- a diagnosis of irregularities
- a diagnosis of issues generating tax risks
- recommendations of correct solutions and activities helping reduce or eliminate potential tax risks
- assessment of tax consequences with regard to issues indicated by the client
The final scope of the tax audit is a combined product of both the client’s expectations and the suggestions presented by SMAR Outsourcing Solutions experts.
If you are interested in verifying tax accounting in your firm, please contact our advisers.