Corporate income tax is no more solely an expense item to be managed. Today, a company’s reputation is at stake.
Corporate income tax is no more solely an expense item to be managed.
Businesses struggle to find tax efficient ways to contribute to bottom line and cash flow, while responding to the challenges of the environment posed by ever increasing regulatory complexity and need for tax revenues, focus on governance, risk and compliance, and the pressure to cut costs and do more with less resources.
The domestic direct tax legislation imposes a number of specific rules and requirements to businesses, resulting in reputational and financial risk of non-compliance, increasing the administrative burden and diverting limited internal resources from higher-value activities. The domestic rules and requirements undergo changes, tax returns require more and more additional information demanding adjustments to the business processes and systems in order to capture it.
The Macedonian corporate income tax has been subject to frequent changes in recent periods. As a result, companies may need daily assistance in the interpretation and application of the amendments as well as in structuring their tax position in a way that eliminates future tax implications.
At the same time, the tax authorities are becoming increasingly strict and demanding when scrutinizing the tax position of the businesses. This is especially valid with regard to related party transactions, whereby tax authorities require solid substantiation of the transactions of the all types of consultancy other
immaterial transactions. This also refers to the levying of withholding tax (WHT) on Macedonian source income of non-residents and application of double
tax treaties (DTTs).
The Direct Taxes team of KPMG in Macedonia may be your trusted partner in coping with the above challenges. We provide direct tax assistance to domestic and foreign companies operating in Macedonia with regard to:
We can help you organize and maintain tax efficient business operations, achieving an optimum level of tax charge, while minimizing cost of compliance and tax risks.
We can provide you with timely, tailored and practical solutions in line with the industry’s best practices and trends, while considering the domestic specifics and culture.
We can help you make your Tax & Finance function a proactive business partner focused on more value-adding activities such as optimizing the effective tax rate, cash tax planning, tax process improvement and integration with other internal business groups. Apart from performing the non-core direct tax analysis and compliance-related activities on your behalf, you may also rely on our highly experienced team to identify tax risks and potential opportunities for tax
Last but not least, our team has access to the large KPMG global pool of knowledge and resources and works in co-operation with other KPMG Direct Tax practices around the world. This enables us to serve your direct tax needs with the highest standard of quality.
Our key services in the area of direct taxes include:
Direct tax planning and advisory
Direct tax compliance services
Services related to tax returns and tax payments
Tax accounting services (IFRS and US GAAP)
DTT application assistance
Assistance in tax refund procedures, tax audit assistance and tax litigation