VAT Solutions and VAT Refunds
The general aim of our VAT consulting and refund services is to evaluate VAT as a real cost item. Our experienced staff of professionals, some of whom have worked on tax inspections as members of the staff of public bodies, and who have provided audit and consulting services in the private sector for many years, contribute significantly to the tax management of companies.
Our VAT reviews significantly decrease incorrect practices that might be detected during a possible tax inspection performed by the Ministry of Finance.
Moreover, the VAT team in our tax and legal services line of business is ready to provide companies with services that will meet their requirements related to VAT. The VAT group consists of experienced sworn financial advisor managers and experts who closely follow the procedures of the tax authority and the approach it implements during the process . This group only deals with VAT refund transactions.
VAT advisory
- Providing information about VAT calculations
- Providing information about transactions and operations
- Providing information about accounting systems
- Special focus on providing information about specific transactions and exceptions
- Providing information about compliance matters.
VAT Check-Up
- Review the impact of VAT calculations on transactions and VAT returns (nos. 1 and 2)
- Review of deducted VAT amounts
- Review of calculated VAT amounts
- Review of VAT returns
- Mechanical VAT reviews
- Review the implementations of initiatives such as discounts, campaigns, promotions
- Review transactions for things such as waste, loss, scrap, etc.
- Provide services related to products that are risky in terms of VAT rates.
VAT refund analyses and report
- Review of transactions that are subject to VAT exemption
- Review of transactions that are subject to withholding (service purchases, provision of workforce, etc.)
- Review of transactions that are subject to discounted rates
- Review of overseas payments (licence, royalty, turnover premiums, etc.)
- Review of refund transactions
- Review of cost calculations
- Preparation of sworn financial advisor tax certification reports on VAT refunds and responses to letters of incompleteness,
- Finalisation of refund files through negotiations and meetings with the tax office.
Preparation of VAT refund Lists
Entering purchase and sales invoices that are consistent with the account statements provided by companies and preparing the lists required for VAT refunds.
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