Law and tax issues, legal and tax audit

Taxes represent a substantial outflow of financial resources for companies. If one takes into account the time spent by the company´s management by fulfilling its obligations in relation to tax offices, more thorough audits by tax offices and higher penalties for non-fulfilment of tax obligations, the tax burden may even increase in comparison with the expectation of the company. We desire to anticipate possible inconveniences with which our clients may be afflicted due to an improper setting of the above mentioned processes.

Our legal team will help you find your feet in this complicated environment and choose the most optimal way when conducting your business.

 

We provide counselling on corporate taxation mainly in the following areas:

 

• corporate tax return
• optimal use of tax losses
• low capitalization
• holding structures
• assets – checking and tax planning
• advertising – checking and tax planning
• reserves – checking and tax planning
• lease contracts – checking and tax planning
• tax consequences of changing the accounting period
• assistance in tax audits
• assistance in liquidation of a company
• exercise of the right to research and development deductions

 

 

Taxation of natural persons

 

We provide tax counselling on natural person income taxes and related areas, immigration assistance for posted employees, preparation of tax returns, representation of our clients before tax offices, revision and structuration of one´s participation in social security and health insurance systems in the Czech Republic. Further, we provide services in setting effective and tax-optimum systems of remuneration – including share ownership programs – leading to strengthening and maintenance of human resources in a company.

 

We provide counselling mainly in the following areas:

• preparation of natural person tax returns
• wages administration including social and health insurance administration
• personal tax planning
• employee benefits
• possibilities and acceptable structures for employing foreigners
• possibilities and acceptable structures for employing Czech citizens in abroad and tax effects on Czech citizens working abroad
• optimization in the area of social and health insurance
• stock option plans and similar forms of remuneration
• pension plans including effects of pension scheme and life insurance
• checking of payroll accounting
• checking and optimization of the structure of remuneration used

 

Proper compliance with all visa obligations of foreign employees is of essential importance for their lawful residence in the Czech Republic. Within our services we prepare and submit applications for labour permits, provide short-term and long-term visas, extension of labour permits and visas and issuance of Czech birth identification numbers and Czech driving licences for foreign employees and their family members. We provide temporary residence permits for EU citizens and appropriate foreign visas for Czech citizens.

 

 

Investment incentives and other subsidies

 

Investment incentives can be provided to newly established and existing companies and to Czech and foreign investors. Production companies can be granted an investment incentive in the form of full or partial income tax discount for a period of up to five years along with support for creation of new job positions and requalification of employees. Subsidies are also provided for strategic services and development of technological centres such as registered office of a company, telephone centres, research and development centres etc. These subsidies are provided in a monetary form as direct payments, not in the form of tax reliefs. Business entities can also submit an application for supporting their projects in the form of subsidies from European Union structural funds.

 

Tax counselling on real estate

 

We provide counselling mainly in the following areas:

 

• structuring investments in real estate
• optimization of real estate portfolios
• tax counselling when real estate is acquired or sold including due diligence
• real estate leasing – especially sale and lease back structures and tax structures
• real estate acquisition financing
• VAT optimization
• real estate transfer tax
• legal and tax audits

 

Therefore, results of a quality independent audit are not only an important signal for investors, shareholders and the broad public but also a valuable source of information for the company´s management. The path to success is all over the world lined with more and more complicated and extensive regulations and requirements of interested parties.

We are highly committed to helping you fulfil your requirements to disclose a number of business risks and risks related to accounting statements, especially by defining timely and constructive tasks for the company´s management, formulating approaches and providing important information to your investors and other interested groups. Well-functioning administration of tax issues is an important condition for the successful growth of an organization because it ensures compliance with all obligations imposed by law and also allows for effective tax planning. Our counselling team cooperates with our clients on defining a suitable tax strategy that corresponds to their business needs, it helps them observe tax regulations and prepare their tax returns, represents our clients before the tax administrator and gives advice on issues concerning tax planning. Practically all business transactions produce certain tax consequences, whereas the rules in this area are constantly changing. Thanks to our responsible approach to tax planning, effectiveness of our services in providing compliance with the tax legislation and approach based on quality and added value we can help your company put an end to fear from taxes once and for all.

 

 

VAT, indirect taxes and customs duties

 

We will prepare your statements so that they fully respect laws, optimize output VAT and the right to deduct VAT and the risk of possible doubts on the part of tax administrators is minimized.

 

Our services mainly include:

 

• legal and accounting due diligence
• counselling services relating to accounting
• revision of accounting systems and internal audits
• special financial investigation
• statutory audits,
• checking the VAT system and making it more efficient
• counselling on cross-border transactions including evaluation of effects of these transactions in abroad
• registration and preparation of VAT returns both in the Czech Republic and in abroad (including recapitulative statements and Intrastat statements)
• assistance relating to refund of VAT paid in the price of goods or services in the Czech Republic or in abroad
• analysis of business transactions and internal processes in the area of VAT
• counselling and planning in the area of customs duties and basis for determination of the amount of customs duties
• representation and professional assistance during a tax audit or audit by a customs office
• representation in dealing with tax and customs offices
• training of client´s specialists.