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Tax advisory represents a wide range of advisory services in the area of local and international taxation. However, each of the advisory services begins with analysis of question or task identified by a client and evaluation of all available information. Consequently, we evaluate possible impacts and risks to a client and prepare an answer or propose optimal solution for the given task. Part of the advisory services is consultancy in areas that are directly connected with tax matters, e.g. compulsory social insurance, health insurance, accounting issues, etc. In addition to advisory services, we represent our clients - on demand - before tax or other state authorities. We provide clients with advice regarding tax procedures or in the event of tax disputes and controversial decisions issued by state authorities.
As well as standard advisory services relating to all types of direct and indirect taxes, we also provide the following specialised services:
- Corporate income tax
- Individual income tax
- VAT, excise duty and customs duty
Corporate income tax
Assistance with preparation of tax returns
We assist clients with the preparation of corporate income tax returns in accordance with Slovak tax legislation.
Preparation of income tax returns
We prepare corporate income tax returns based on the information and documentation prepared by clients so that such returns are in accordance with Slovak tax legislation.
Tax review
Based on the tax review of corporate income tax, all significant transactions or transactions as determined by the client performed during the relevant period are checked and their tax impacts assessed. Based on our experience, a tax review helps in the identification of tax risks, and provides reasonable time to implement corrections, find solutions and identify any previously utilised methods that were ineffective.
Tax planning
Within the provision of tax planning services, we strive - in co-operation with a client’s employees - to arrive at alternatives for performing business transactions with the aim to optimise the client’s tax burden from the income tax perspective.
Transfer pricing
We perform an analysis of transactions and contracts between related parties from the transfer pricing perspective, and identify existing tax risks. Subsequently we provide assistance in finding solutions to minimise the identified tax risks.
Transfer pricing documentationEntities entering into transactions with foreign related parties are obliged to keep documentation on the transfer pricing method used in order to prove that the prices used in such transactions are at market level and no adjustments of the tax base is required.
We prepare a transfer pricing documentation for our clients as stipulated by the Slovak tax legislation. When preparing the documentation, we will use, if necessary, the same databases used by the Slovak Tax Authorities for the purpose of tax audits.
During our engagement, we review the relevant documentation of the company if respect of group transfer pricing such as the Global Group Transfer Pricing Documentation, various intra-group agreements concluded, etc. We also consider the aspects relatinf to core business activities of the company or group, or the relevant markets, the business strategy of the company or group, the functions and risks of each of the contracting parties, the Comparability analysis comparing the price and conditions of an intra-group transction with prices and conditions of similar transactionsbetween unrelated entities and the transfer pricing method chosen and an explanation why the particular method was selected.
The companies which are not obliged to prepare their financial statements in accordance with the IFRS standards prepare simplified transfer pricing documentation although it is recommended that a standard transfer pricing documentation is available.
Individual income tax
Preparation of tax returns
We prepare individual tax returns for employees of our clients who are seconded abroad, or for expatriates from foreign companies seconded to Slovakia.
Representation before tax authorities
We represent the employees of our clients seconded abroad and employees of foreign companies seconded to Slovakia before tax authorities in the Slovak Republic and arrange all the related tax matters.
Tax planning
Tax planning includes systematic analysis of different tax positions aimed at the minimisation of tax liability in current and future tax periods. We help you assess timing of sales of an asset, timing for receipt of the income, timing for paying out company's expenditures. We arrange for your financial affairs so as to minimise your taxes while complying with all the tax legislation in effect.
VAT, excise duty and customs duty
Preparation/checking of VAT return
We prepare or check VAT returns prepared by clients in order to ensure conformity with the Slovak tax legislation.
Tax planning
Within the provision of tax planning services we strive, in co-operation with a client’s employees, to arrive at alternatives for performing client’s business transactions with the aim to optimise tax burden from the perspective of VAT, excise duty and customs duty.
Tax review
Based on the tax review of VAT and excise duty, all significant transactions or transactions as determined by a client performed during the reviewed period are checked. The review results in identification of those transactions or methods that are ineffective or which could lead to penalties being imposed by the tax authorities. As a consequence of such reviews, we are in a position to recommend suitable solution for identified risks and disadvantageous methods.
VAT refund for foreign entrepreneurs
The Slovak tax system enables, under certain conditions, to apply for a refund of the VAT paid by foreign entrepreneurs (an individual or a legal entity) in the Slovak Republic. Similarly, foreign tax systems enable to ask for a refund of the VAT paid by the Slovak VAT payer abroad.
The VAT refund process is time-consuming and administratively demanding, and requires in-depth knowledge of the relevant regulations and procedures in particular country. Within the scope of our services, we will arrange for a refund of VAT in the Slovak Republic or abroad for our clients.
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