Corporate Income Tax

Tax Risk Management

In an increasingly demanding and diverse environment managing tax responsibilities is becoming more complex. Complexity around taxes frequently translates into risks and issues, arising either from technical inaccuracies and lack of adequate documents, or caused by changes in business processes, expanding to new markets, etc. A good tax risk management system considers all of what happens in the company and is a valuable tool to ensure compliance with applicable legislation, avoidance of tax assessments and also full use of tax opportunities.

Deloitte offers high quality services for development and implementation of efficient TRM systems that help businesses improve management, oversight and control over their key tax processes. This is also increasingly important to management’s ability to plan and forecast. TRM systems we develop are based on and are integrated in the commercial and administrative processes already existing in the companies and we seek to align tax operations to your business strategy. Our approach is enriched by experience from several other European countries where TRM systems are more widely used in the last decade. Our goal is to create a tool for you that you can afterwards use yourself for staff instruction, rising tax awareness, internal controls and strategy decisions.

During a TRM system development we would walk though all operations of the company, picking up information along the way about what, where and when affects taxes. Creating a TRM system includes deciding and documenting company’s tax strategy, drafting process maps and descriptions, identifying, mapping and addressing risks and putting together an umbrella document about all the systems, procedures and controls in place to manage taxes. Although development of TRM system does focus on tax matters, as a bonus it often also inadvertently shows what improvements may be necessary in company’s accounting, reporting and human resources practices and procedures.

Compliance and reporting services

For both domestic businesses and multi-national companies, compliance with an increasing number of tax rules, more rigorous and coordinated enforcement by tax authorities, and ongoing staffing constraints continue to be a challenge. As businesses expand operations into new markets the complexity of managing tax risks and complying with reporting requirements multiplies. Deloitte offers efficient, cost-effective tax compliance services, including co-sourcing and outsourcing options. A suite of integrated tax technologies can help companies achieve their goal of high quality, lower-cost compliance. In addition, some technologies have the potential to give businesses enhanced visibility into more global information that may be useful to them in strategic decision making.

Financial accounting for income taxes

Financial accounting and reporting for income taxes have become increasingly complex. Tax departments must keep up with the latest regulatory developments and guidance related to income tax accounting, disclosures and documentation, as well as seeking ways to address their tax provision process and technology needs more reliably and efficiently. Deloitte tax professionals understand the complexities and can provide practical insight, standardization, and technical expertise to help clients navigate through the maze.

Tax controversy services

Current trends suggest that multinational organizations will continue to spend more time and resources managing tax controversies in both their local and foreign markets. Tax authorities are sharing information about companies and focusing increasingly not just on the technical merit of a tax position but also on implementation. Deloitte's tax controversy teams include former tax authority officials, alternative dispute resolution specialists, and in many countries, tax litigation specialists who can assist multinational businesses at all phases of the tax controversy cycle.

International Strategic Tax Review (ISTR)

As companies expand globally, their global tax and treasury strategies need to become more integrated, flexible and sustainable. Deloitte's International Strategic Tax Review (ISTR) helps companies understand the drivers of their effective tax rate (ETR), assess risks, and better align tax management with future business model developments. Deloitte assists with foreign tax credits, income repatriation, ETR forecasting, risk management, post-merger integration and legal entity rationalization. An ISTR provides a framework for discussion, design and implementation of global tax and treasury strategies. Deloitte's fact-driven, analytical - rather than intuitive - approach helps multinational companies to objectively and methodically chart their tax strategy and manage risk going forward.

International mergers and acquisitions

All transactions-whether mergers, acquisitions, joint ventures, equity investments, or divestitures-raise complex issues regarding potential tax risks and provide opportunities to implement practical strategies to improve tax efficiency and certainty. When deals involve companies with global operations, the range of issue to consider is compounded. Companies need an adviser with deep experience across a wide range of issues in multiple jurisdictions. Deloitte offers support in all aspects of mergers, acquisition or disposition transactions, including due diligence, structuring, modeling, financing, post-merger integration and reporting. Deloitte can assist in effectively navigating the myriad of tax, accounting, regulatory, cultural, and labor issues that arise in a transaction and helps companies to fully realize the anticipated post integration benefits.

International expansion services (IES)

Increasingly, companies looking to grow revenues and increase profitability are expanding sales and operations into new geographies. Starting with a company's strategic objectives, Deloitte helps businesses to quickly navigate new landscapes by advising on a wide variety of start-up activities. Deloitte’s services include location assessments, market trends analysis, and site selection, all the way through to legal structuring, investment constructs, compliance requirements, talent and staffing strategies, and identification and evaluation of indirect, corporate and employment tax considerations. Deloitte offers businesses a coordinated approach through a single point of contact and brings together professionals with specialized skills at the appropriate points in time. This helps organizations be confident that they have access to appropriate skills at an appropriate time, accelerate timelines and to realize the benefits of their expansion efforts.