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Tax advisory

Tax advisors of Shaffer & Partner group provide clients with services especially in the following fields:

Compilation of Tax Statements

We prepare tax statements to all taxes within the tax system of the Czech Republic.

1. Direct taxes

Income taxes

• personal income tax
• income tax

Property taxes

• Real estate tax
• Hereditary tax
• Gift tax
• Real Estate Transfer Tax
• Road Tax

2. Indirect Taxes:

• Value Added Tax (VAT)
• Excise Tax
• Ecological tax

We also provide for example request for returning of VAT in other member states of the European Union.

Tax statements are filed under our responsibility and we guarantee correctness of the content of the tax statements.

Tax Planning

With regards to business strategies and intentions of our clients we guide our tax advisory so the clients’ plans do not have any negative tax implications. In addition to analysis of tax implications of respective transactions, we provide our clients also with calculations of future tax burden, so our clients could entail them in their plans.

Development of the company shall not be affected by neglecting key tax implications and eventual revision by a tax administrator should be a formality only. Our approach implies solutions, which are symbiosis of tax, law and financial aspects and therefore are as complex as our clients’ strategies.

International Tax Law

Our membership in AGN International (international association of independent accountant and consultancy companies) allows us to cooperate with similarly structured companies world-wide assuring our advisors’ competence in international law issues.

Business activities of our clients are world-wide requiring our advisors’ to have international experience. We provide solutions, which are not only in accordance with the Czech national law, but also with the law of the European Union or international conventions, which are binding for the Czech Republic.

Counsel in the field of mergers, acquisitions and changes of concern structures are also a part of our services. Tax aspects are often fundamental for these operations. In this field, we can also rely on our extensive experience gained from similar transactions having in most cases an international element and we provide complex tax, law and financial support.

Tax Audit, Due Diligence

We are ready to guide the investors from the beginning starting with their entrance to the Czech market.

Due diligence is designated for those investors, who intend to take over certain companies. Complex inspection of all aspects (tax, law and financial) should ensure the investor that he will not suffer any unexpected financial obligation or other difficulties after the take-over, which he was not properly informed about. Due diligence scans all substantial risks and their relevance and it enables the investor to utilize this information in e.g. purchase price or future negotiations with his counterparty.

Based on the client’s request, Due diligence can be of course aimed to a whole company, or to its selected parts.

Tax audit is an inspection of a company with regard to fulfilling its tax duties towards the state. Its goal is to reveal system mistakes and risks.

Sent Out Employees (expats)

We provide complex counsel with respect to sending employees to Czech Republic or abroad. Our services include:

• Proposal of structure of send out
• Configuration of internal provisions for the send out
• Immigration assistance
• Composition of tax declaration for the send out employees and full tax service for them
• Representation of send outs in front of tax administrator, their registration.
• Assessing of application of legal regulation in the field of social and medical insurance and performing all duties with regard to the relevant authorities.

Transfer Prices

Tax authorities are focusing intensively on correct configuration of transfer prices. Unpreparedness of a company to the tax administrator’s questions raised within an inspection can lead to a significant increase of the tax duty. Therefore, we provide our clients with an overview of current transfer prices (study of the transfer prices and risk analysis) and we prepare proposals of solutions which could eliminate eventual risks.

At the same time we also offer compilation of documentation to transfer prices as proper evidence for eventual inspection by a tax administrator. We are also prepared to file a request for a binding evaluation of the method of determination of a price agreed between capital connected persons (binding evaluation is issued by local financial authority).

Representation before Tax Authorities, Institutions of Social Security, Customs Authorities, etc.

We represent our clients in front of state authorities especially in the following matters: 

• Representation in tax disputes with tax authority
• Providing support during inspection by tax authority, social security or health insurance.
• Providing support during local examination, within reactions to tax administrator’s appeals, preparation of appeals and other legal remedies.
• Representation in tax disputes in front of the court

Accountant Services

We provide complex accountancy services. The agenda is processed to correspond to our clients’ individual needs. Basic accountancy services include especially:

• Bookkeeping (processing of primary accountant documents, bookkeeping according to Czech GAAP)
• Keeping of Tax records
• Payroll accounting including fulfilling of all duties towards state institutions, annual clearing of income taxes and withdrawal taxes
• Compilation of annual financial statements
• Reporting on client’s request
• Compilation of statistic statements
• Reconstruction of bookkeeping (in case of client’s doubts of correctness of bookkeeping)
• Revision of bookkeeping in past periods (e.g. in case of take over a pre-existing company)

During its existence each business subject takes many strategic and operative decisions. We help our clients to find solutions, which are advantageous regarding taxes and which eliminate hidden tax implications. We offer complex perspective, which evaluates long-term risks, analyzes eventual international elements of certain transactions and which leads in cooperation with our experts from other departments to comprehensive examination in other fields, such as commercial law or international bookkeeping standards.