Entrepreneurs, directors of finances, accountants and other professional persons encounter tax-accounting issues daily and are exposed to series of challenges due to an incredible amount of changes in tax laws and a flooding of court decisions in that area, deregulatory efforts, increased demands for prognostic counseling. Due to the scope of their daily work they often cannot dedicate sufficient time to study not only laws, acts and regulations but also a series of Tax Authority’s opinions, European Court of Justice rulings. At the same time professional literature can often be complex and unapproachable and in seeking for answers one can find different interpretations of the same issue. This is where we can assist you by providing clear, unquestionable and expert advice, interpretations and answers.
Continuous tax consulting
Tax overview includes:
- Continuous supervision of accounting records and creating tax applications in order to avoid mistakes that can result in sanctions and unforeseen expenses / periodically, semi-annually,
- Verifying authenticity of documentation and identifying possible tax risks and risks with other contributions. Checks include verifying timeliness and accuracy in calculating and paying taxes and other contributions by inspecting tax documentation, especially for corporate income tax, VAT and other required taxes (e.g. real estate tax),
- •Supervision of tax and accounting records made for tax applications and other tax documentation – preparing the final statement of account/balance sheet.
Tax overview/inspection results with a report on found irregularities in calculating and paying taxes, estimate of possible savings and risks, estimate of the objectivity of the financial statements and recommendations.
Tax optimization and planning
Tax optimization is consulting on the decrease of tax base within the legal framework and realize every possible legal tax savings, i.e. on how to optimize tax liabilities.
We can offer tax planning for the purposes of your regular operating activities or when you need to view complex tax transactions where we will suggest more optimal ways to perform the transactions with an analysis of taxes stemming from such transactions. Our experts are capable of identifying upcoming regulations and available tax options early enough and provide you with a quality professional service.
This service includes:
•Tax savings from the aspect of balance sheet items,
•Tax effects of certain income and expenses,
•Instruments for planning tax liabilities (accounting policies),
•Tax credit, deductions and incentives,
We also provide these services:
•Representation in tax proceedings with tax authorities,
•Involvement in tax litigation in court,
•Consultations during a tax proceeding.
The need for professionals to represent and defend the interests of taxpayers grew as the number of various tax forms and the tax burden grew. Insufficient knowledge of tax procedures, your rights and obligations and insufficient expertise in tax issues when a tax proceeding occurs, can result in negative outcome for the taxpayer.
If you require assistance or wish to be represented in a tax proceeding you can contact us and we will use our professional knowledge and experience to help you.
International tax services
Today, the world is global and the Republic of Croatia is increasingly included in global flows, especially after the market liberalization and entering the EU. In order for entrepreneurs to grow today, they have to develop internationally which often faces them with a series of unknown elements regarding the tax systems and foreign regulations. Our cooperation with HLB International that is present in over 130 countries and our contact with partners for tax issues, enables us to provide you with reliable information regarding tax jurisdictions all over the world in a timely manner.
This especially refers to:
•Structuring international investment and cross-border transactions,
•Interpretations of tax agreements, especially the application of the agreements for avoiding double taxation,
•Consulting regarding taxing employees abroad,
•Consulting regarding taxing foreign income (e.g. foreign pension) and foreign profit,
•Consulting on transfer pricing.
div style="text-align: justify;">
Horizontal monitoring (obtaining the status of a preferential taxpayer)
QFACT offers a consulting service and cooperation for obtaining a special tax status. In accordance with the Tax Authority Act, the tax authority can approve a special status for a taxpayer and the most significant characteristics of that status for the taxpayer are no tax inspection, providing counseling, consultations with the tax authority and similar. We can assist you in this complex procedure for obtaining the special status and offer audit services by companies in our group due to positive audit opinion being one of prerequisites for obtaining this status.
Challenges of global economy and the ever increasing growth and importance of international business, and on the other hand an increase in fiscal deficit result in increased supervision by the Tax Authority in the transfer pricing area. In this area Croatian Tax Authority is constantly developing and the number of inspections is on the rise.
Consulting and transfer pricing studies include:
• planning: development of economically feasible policy of transfer pricing,
• implementation: development and implementation of efficient policies between related parties,
• preparation of the transfer pricing study: in accordance with current transfer pricing regulations,
• solving transfer pricing issues, negotiating with authorities and similar.