Special services to make sure VAT reclaims are realised
Submission of VAT refunds draws the attention of the tax authorities, often in the form of a VAT audit. Our office undertakes to efficiently assist the realisation of the amount to be reimbursed within the deadline, which includes, in addition to full representation in the audit, the screening of documents before the audit.
Representation, participation in audit procedures
In our experience, by joining the early stages of the audit, we can significantly reduce the time spent by our clients in reaching a favourable tax authority decision. Our goal is for the companies we represent to have as little stress as possible relating to auditing procedures and for them to be able to concentrate on their business activities.
Preliminary tax audits, analyzation and mitigation of potential risks related to taxatio
Legislative changes in recent years have dramatically increased the level of audit sanctions, therefore in some cases, the sanctions burden will already exceed the amount of tax shortages and undue reimbursements. Our specialists contribute, by identifying danger points, to ensure that the majority of tax sanctions can be avoided and other risks minimised.
Transfer pricing documentation
The establishment of the settlement price between affiliated companies has become the focal point of audits of the authority over the last few years. Through the outstanding professional experience of our advisors, we provide our customers with confident and relevant support for the preparation of transfer pricing documentation, its revision and general advisory services on the application of arm’s length prices.
Providing a quick, credible, written professional opinion beforehand for IC tax exempt and export sales, or in the case of domestic purchases, as well as for related taxation follow-ups in order to eliminate VAT risks.
International tax planning
Rapid globalization creates a challenging tax environment. Complex global operational and supply chain models that can provide companies with a competitive edge, further increasing the challenges of international taxation. In addition, tax authorities worldwide seek to extend their control over international structures and cross-border transactions. Taking these into account, we provide international tax optimisation strategies and advisory services in relation to international taxation, transfer pricing, global restructuring and cross-border mergers and acquisitions.
Based on existing legislation, tax benefits can be used in several ways in connection with R&D activities. Certain properly documented costs relating to R&D activities – not covered by subsidy – may be deducted by the taxpayer from the corporation tax, business tax, and also the innovation contribution funds. Accordingly, with appropriately supported R&D documentation, a corporate tax of 9 percent of these costs, 2 percent of local business tax and 0.3 percent of innovation contribution savings can be realised.
Experience has shown that exceptionally few taxpayers make use of the tax exemptions that are outstanding even on an international level. This is partly a consequence of the incomplete knowledge of the tax legislation and, in part, due to the serious obstacles caused by the practical application of the discounts to taxpayers, in the absence of complex knowledge of accounting, taxation and industry know-how.
The Tax Advisory professional team of HÍD can provide trustworthy assistance in the utilisation of R&D tax incentives, with the preparation of R&D documentation owing to their knowledge of tax administration.