Many of the decisions constantly taken by the companies usually have, either directly or indirectly, tax consequences which due to their significant incidence on costs and profits must be thoroughly analyzed.
Furthermore, considering the high complexity and dynamism of tax regulations that form part of the “Argentine Tax System”, companies - whether big or small sized and particularly those operating worldwide - are continuously facing challenges.
Our team at MGI Jebsen & Co, works together with the company in order to analyze and develop planning strategies according to each business, aimed at minimizing the tax burden within the pertinent legal framework.
Our main services on this field are the following:
- Tax advise and planning, national and international, for companies and individuals;
- Fiscal and social security audits;
- Preparation and/or review of tax returns and sworn statements;
- Tax recovery;
- Sending of periodical newsletters;
- Assistance on inspections.
Tax advise and planning, national and international, for companies and individuals
We take care of the general review related to the available information and documentation which, after an integral analysis of the same, is used to prepare a detailed report whereby we estimate the corresponding scope, terms and amounts payable for the respective tax burdens.
Within such analysis, and as a comprehensive part thereof, we include reports about specific opportunities resulting on taxwise economies, considering them as the accomplishment of legal obligations under a framework focused on administrative and/or monetary savings, taking advantage of available benefits in connection with current situations.
Tax planning may as well include burdens due to payroll taxes liabilities (e.g: Social Security System), making up the so-called fiscal planning.
Such planning should not only be integral, meaning the fact of embracing all burdens (international, national, provincial, municipal/district) and considering the existing regulations as well as judicial decisions and experts’ opinions, but also integrating of other obligations arising from equities and cash flows (economical, commercial, judicial, labor, administrative, systems burdens, etc.). This is the reason why an interdisciplinary teamwork is of outmost importance.
Fiscal and social security audits
Audits are focused and customized according to the client’s needs and the degree of its extent will depend on the objective being pursued (shareholdings’ transfers, operative fiscal audits, review of fiscal status, etc.).
Our tasks will consist on verifying, on a selective basis, the tax situation of the company aimed at:
- Assessing the adequate tax burden;
- Verifying the existence of tax liabilities that have been neglected or overlooked;
- Confirming the extent of the compliance with the fiscal obligations due to own or third parties’ debts (collections at source and/or withholding systems).
Preparation and/or review of tax returns and sworn statements
- Assessment of the tax obligations which the companies are subject to, regarding both direct and indirect taxes. Calculation of annual provisions for taxes in order to include the same on the corresponding financial reports;
- Review of tax fulfillments, by means of a periodical follow-up of the respective tax obligations in order to verify whether the company is duly and accurately complying with the same (national, provincial and municipal/district taxes);
- Analysis of the performance as withholding agents on the different established systems;
- Fulfillment of all formalities before tax authorities in relation to registrations, cancellations and requests of tax exemptions. Assisstance on the steps necessary to become registered on the different taxes, filing of requests for fiscal cancellations and/or for the exemption on national, provincial and municipal/district taxes.
Recovery of taxes
Due to the existence of many tax withholding and collections at source systems, in most of the cases the same give rise to credit balances as a result of payments in excess of the pertinent tax obligations. In view of this situation, the regulations foresee certain mechanisms which enable taxpayers to recover those tax credit balances. MGI Jebsen & Co, analyzes their convenience and prepares / files:
- Requests for the reimbursement, crediting and/or transfer of fiscal credits related to export operations;
- Requests for the reimbursement, crediting and/or transfer of credit balances of immediate availability in connection with national and provincial taxes.
Sending of periodical newsletters
In view of the continuous changes on the existing tax regulations, either generally or - many times - particularly according to the field of activity of the company, we constantly:
- Update the news about tax issues, not only at a national and provincial level but also internationally;
- Prepare calendars with tax payments due dates, tailor-made for each company.
Assistance on inspections
This refers to procedures, formalities, negotiations and different steps taken at the Internal Revenue Service (AFIP), Provincial and Municipal Revenue Departments as well as those corresponding to the Govenment of the Autonomous City of Buenos Aires.
- Assistance to the taxpayer on how to proceed in the event of an inspection;
- Answering of requirements and fulfillment of formalities aimed at obtaining a declaration/ruling from the tax authorities in connection with the answering of queries, explanatory information and acknowledgement of exemptions;
- Obtention of special installment payment plans, from national and/or provincial tax authorities.