Our tax advisory services help the client meet all the requirements of the Czech tax system.
We respect the fact that taxes in any way, shape or forms are the reality that each tax payer must accept. The current tax system of the Czech Republic is so complicated for a layman that a tax payer may end up paying more in taxes than required by law. To avoid that situation, it is often efficient to find a guide through the wilderness of the tax codes and related legislation.
As your guide, we are ready to use primarily the following tools to take you through the perils of taxes:
Time and again, experience shows that many of us consider a tax advisor (just like a lawyer or doctor) to be someone who resolves a sudden problem by miracle because they "know how". This may often be the case. But it appears more prudent to avoid a number of potential problems by having a draft contract examined by a tax adviser, who explains the contract's possible tax impact to the client.
Tax Impact Scenario-Playing
If the client approaches the tax advisor in a timely manner (before finalizing the contract), a formalized (most frequently mathematical) model can be designed to demonstrate various degrees of the tax burden in relation to scenarios where supplies, financing and legal structures are the variables. (Also taking into account the impact on the accounting records of the tax payer).
We prepare all types of tax filings for all the taxes our clients are or will be subject to.
In the order of frequency, we prepare tax filings for the:
Income tax (both personal and corporate)
Property transfer tax
If the client still decides to file the tax returns without being represented by a tax advisor, we can still prepare back-up documents to help the client file by him- or herself.
Representing the Client in Audits by the Revenue Service
Many tax payers fail to reach satisfactory results in tax proceedings (audits by the revenue service) by making procedural mistakes which often cause the result of the audit to result unfavourably. We therefore believe that one of the main jobs for a tax advisor is to provide maximum protection of the tax payer rights in audits by the revenue service.
Most often, we represent clients during the audit by the revenue service and we file regular appeals if and when additional tax is assessed.
A tax advisor can also help if taxes are being paid properly by the client needs to request for postponements, instalments, penalty waivers etc.
Verification of Taxable Amounts
We are ready to check if the taxable amounts have been calculated properly by the client and to give him or her an overall report
A partner/shareholder in a Limited Liability Company (LLC) or a General Partnership can ask a tax advisor to inspect the company's documents and the contents thereof
Once requested by a shareholder in an LLC or a General Partnership, we are ready to inspect any of the company documents and the information contained therein on the shareholder's behalf, applying our expertise in financial, accounting and tax analysis. In the past, we have proven our capacity to conduct these independent inspections with and without cooperation by the entity being examined.