Business Process Solutions

Solutions

Business Process Solutions

Companies of all sizes have recognised the advantages that can be gained by outsourcing non-core functions. With a specialist taking charge of your tax compliance, accounting, payroll, HR or international reporting, you can concentrate on what really matters: delivering value to your shareholders.

Whether your business is a new entrant to the local market or a multinational corporation and wherever your operations are in the CIS our team have the solution you’re looking for. Our team have access to Deloitte professionals around the world to ensure that we are able to provide you with the high quality advice you need whatever your business sector.

Many companies rely on us to take full charge of their tax compliance processes, Our streamlined tax compliance processes and use of proprietory technology could be the solution you’re looking for. Our compliance services include:

  • Set-up of an optimal approach to tax compliance processes focused on the specifics of your industry and the availability of regional tax benefits
  • Development of tax policy and tax accounting methodology
  • Tax compliance outsourcing, maintenance of tax books, preparation and submission of tax reporting to ensure timely fulfillment of tax obligations
  • Proactively addressing tax risks, putting in place a balanced and safe tax position
  • Tax reporting reviews applying a risk-based approach, tailored to the specifics of your company

This ‘smart’ approach is backed by our access to tax and legal specialists working in every industry sector. Our highly regarded team of tax dispute resolution professionals are involved in every tax position we take.

Tax compliance

Whether you’re looking for a full service, allowing your own finance team to maintain an oversight role, or just need help preparing appropriate documentation, our expert team can provide the service you need:

  • Development of accounting policy and methodology under Armenian accounting legislation
  • Development of document flow and internal control procedures
  • Outsourcing of book-keeping and other daily support (primary documents, payment orders, expenses reports and other)
  • Reconciliation of accounts payable and receivable
  • Preparation of statutory financial statements and management reporting
  • Support for any financial audits
  • Review of financial statements
  • Accounting restoration
  • Short or long term in-house assistance from a Deloitte professional

Our team have vast experience in both using and implementing various ERP systems.

Accounting

Whether you’re a subsidiary of an international business operating in Armenia or an Armenian business looking for security and credibility, we can help you produce financial statements compliant with IFRS, US GAAP, or your own internal standards. Our services include:

  • Recommendations on the composition of transformation adjustments based on industry specific features
  • Clarifications of requirements for the preparation of a reporting package in accordance with IFRS or US GAAP
  • Tax accounting (current and deferred tax obligations) and preparation of tax package

International reporting Services

Calculation and processing of payroll is both complicated and sensitive. Many companies prefer to outsource this function to a highly-professional specialists in order to maintain confidentiality, ensure compliance and mitigate the tax and labour risks. We would be happy to provide you with full scope payroll services:

  • Calculation of employees’ net pay dealing with any wages types of the company: from salary and bonuses to northern coefficients and mark-ups, sick leaves and vacations, meals, housing, severance payments, etc.
  • Distribution of payslips to employees
  • Calculation of payroll related tax and social contributions
  • Preparation and submission of statutory payroll reporting and management reports
  • Support in dealing with official authorities
  • Consulting on employment-related issues
  • Review of travel and expense reports to ensure compliance with internal policies and to meet official regulatory requirements.

We can also undertake a payroll health check review: review of your payroll accounts, policies, procedures to ensure they meet the requirements of the current Armenian legislation and market best practices. 

Payroll

HR compliance is complex and administratively time consuming and this is why many companies choose us to manage their HR compliance issues:

  • Preparation of obligatory HR documents for hiring, termination, holidays, business trips and other HR events in accordance with Armenian labour law
  • HR compliance reviews to ensure processes comply with current labour legislation
  • Development and implementation of internal procedures, guidance and policies; adaptation of global policies to meet Armenian labour law
  • Restoration of missing HR documents
  • Obtaining pension certificates and registering newly-hired employees to the pension fund
  • Labour safety organisation
  • Consulting on various employment, labour-law and tax-related matters
  • Providing assistance during labour audits
  • Short or long term in-house assistance from a Deloitte professional      

Deloitte’s legal experts are always available to provide advice on complex labour issues.

HR services