Local tax advisory

Our Business Tax services are designed to meet your business tax compliance and advisory needs.

Our tax professionals draw on their diverse perspectives and skills to give you a seamless service through all the challenges of planning, financial accounting, tax compliance and maintaining effective relationships with the tax authorities.

Our talented people, consistent global methodologies and unwavering commitment to quality service give you all you need to build the strong compliance and reporting foundations and sustainable tax strategies that help your business achieve its ambitions.

Tax accounting

Today's business tax environment is increasingly complex, there are more and more demands for transparency, tax departments are under pressure to be more effective and highly qualified professionals can be hard to obtain.

To help you respond to these demands, we provide assistance in three key areas:

• Tax accounting: supporting periodical tax provision calculations, validating tax balance sheet accounts and implementing new accounting standards under IFRS and/or local GAAP
• Tax function performance: improving operating strategy and organization design, tax process and controls, and data and system effectiveness
• Tax risk: Identifying and prioritizing key risks and assisting with controls monitoring and remediation

The scope and nature of our services may differ depending on weather you are an audit or non-audit client. What's consistent is the high-quality service of professionals provide to address your unique needs, throughout the entire tax life cycle of planning, provision, compliance and working with the tax authorities.

Transaction taxes

Every transaction has tax implications, whether it's an acquisition, disposal, restructuring or merger. Understanding and planning for these implications can mitigate transaction risk, enhance opportunity and provide crucial negotiation insights.

Our Transaction Tax team of professional advisors can help you do just that. By offering a multi-transaction experience with local tax knowledge across a broad spectrum of industry sectors, we can help you make informed decisions and navigate the tax implications of your transaction.

Transfer pricing

Our transfer pricing professionals help you review, document, manage and defend your tranfer pricing policies and processes.

We provide:

• Transfer pricing planning
• Documentation
• Tax efficiency supply chain management
• Transfer pricing in financial services

Personal taxes

By providing professional income tax preparation services, our tax team helps you maximize the tax efficiency of your personal financial decisions while also reducing the demands of preparing your annual tax returns.

We provide:

• Ongoing tax preperation services and filling of tax returns
• Assist and advise individuals on general tax matters, including personal use assets (residence, automobiles, etc) taxable gains, non-deductible losses.
• Expert advise on special tax issues ranging from estate tax considerations stock options, gifted property, retirement plan distributions, and personal investments;

Compliance and claims

We can help you on the following:

• Registering and Deregistering for VAT.
• VAT returns set up, preparation and submission (and help with electronic returns).
• Advice on the most appropriate registration set-up (eg VAT representation, annual returns, special arrangements) as well as timing of registration.
• Assistance with claims for VAT (Greek and foreign companies).

Negotiating with tax authorities

We have considerable success defending against authorities challenges, negotiating favourable outcomes with tax authorities in advance and after the facts (including waiver of penalties) and managing VAT inspections, based on our technical expertise and approach with tax authorites. We can assist with:

• Correcting past issues more favourably.
• Challenging authority’s position.
• Mitigating and suspending penalties.
• VAT Inspection preparation, support during visit and post-visit compliance

VAT representation

Foreign companies that carry out certain commercial activities in Greece , may be liable to render VAT returns and are consequently obliged to register for VAT and ensure that they abide by all fiscal regulations that it entails.

VAT registration status differs depending on whether a foreign company operates from: within a European Union state or not.

Businesses established in the EU will be entitled to register either:

• Directly (without a fiscal representative)
• Through the appointment of a local fiscal representative

Businesses established outside the EU will need to employ the services of a local fiscal representative, through which a VAT registration may be obtained.

In addition to the VAT registration facility available to foreign enterprises, Abacus A&F; is qualified to handle all VAT related issues of foreign companies that carry out commercial activities in Greece

Our services include:

• Administrative assistance in making a Greek VAT registration application.
• Maintaining VAT accounting records (sales and purchase ledgers processing).
• Completing and filing VAT returns, when required.
• Reporting the EC transactions listings, quarterly.
• Extracting the annual list of customers.
• Completing and submitting the "Intrastat" return.
• Assisting at audits conducted by the Greek Tax authorities.