Assistance with preparation of tax returns
We assist our clients with 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 provided by clients so that such returns are in accordance with Slovak tax legislation.
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.
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 client’s tax burden from the income tax perspective.
We perform an analysis of transactions and contracts between related parties from the transfer pricing perspective, and identify existing tax risks. Consequently we provide assistance in finding solutions to minimise the identified tax risks.
Transfer pricing documentation
Entities 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 adjustment 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 purposes of tax audits.
During our engagement we review the relevant documentation of the company in respect of group transfer pricing such as the Global Group Transfer Pricing Documentation, various intra group agreements concluded, etc. We also consider the aspects relating to core business activities of the company or group and 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 transaction with prices and conditions of similar transactions between 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.