Tax Health Check Services
Our tax health check services ensure a methodological approach of reviewing financial transactions with an objective of advising on the nature and extent of the exposure of organizations as regards to tax liabilities. It assesses, over the last 5 years whether:
- The current tax registrations are sound
- The correct tax has been paid
- Status of any KRA audits
- Tax has been paid on the right tax base
- Allows for proactive resolution of outstanding tax liabilities
Tax Assurance
Particularly important given the many changes in law over the years it ensures:
- Capital items have been capitalised and not expensed in the P&L
- Excess pension has been accounted for
- Fringe benefit tax has been settled where applicable
- 30% EBITDA Rule applied for loan interest deductibility
- Controlled group transactions completed at arm’s length
- Payroll costs matched to PAYE P10s
- Revenue matches VAT returns
Tax Dispute Resolution
Navigating tax reviews can be time-consuming and complex. We provide comprehensive assistance throughout the process, from initial assessment to final resolution. This includes reviewing revenue authority findings, advising on the legitimacy of demands, raising objections, and representing clients' interests with the Tax Authority.
- KRA Audit support
- Tax Assessment Representation
- For cases requiring escalation, we provide representation to the High Court of Kenya all the way to the Supreme Court.
Tax Advisory Services
Our tax advisory services are designed to minimize your tax liabilities, maximize
tax saving opportunities, advise on tax implications of transactions and reduce the
time spent on managing tax compliance. Therefore, besides rendering tax advice
and opinions to our clients on their day–to-day transactions, we routinely advise
clients on the most tax efficient models to achieve their commercial objectives.
Moreover, we regularly help clients to analyse the potential tax liability of
commercial transactions, especially dealing in property, to ensure transaction
prices realistically incorporate future operating costs related to tax.
This Includes:
- Corporate reorganizations
- Mergers & acquisitions
- Tax exemptions
- Investment financing
Tax Compliance
Tax compliance is a continuous process whereby taxpayers have to meet their tax reporting deadlines in an accurate and timely manner. We can assist clients to ensure that the information contained in tax reports is accurate, while ensuring there is no undue tax exposure or overpayment, and that the same is filed in a manner and as per the timelines set out in our tax laws.
We routinely assist clients in complying by preparing and/or reviewing tax computations and filing of returns such as:
- Corporate Income Tax compliance services
- Value Added Tax compliance services
- Withholding Tax compliance services
- Payroll compliance services
- Bookkeeping services
Estate Planning and Tax Exemptions
Particularly important given the many changes in law over the years it ensures:
- Transfer of property from an individual to a family company
- Transfer of property between spouses
- Transfer in consideration of gift inter vivos in favour of NGOs/charitable organizations
- Income tax and Land Rates exemptions for NGOs and charitable trusts; where applicable
Transfer Pricing
Transactions between related parties and parties in preferential tax regimes are required to be at “arms length”, with the regulations surrounding transfer pricing becoming more stringent, along with heightened enforcement efforts by the KRA evidenced by the growing number of cases at the Tax Appeals Tribunal, managing transfer pricing has become a top priority for businesses operating on a global scale. At CM Advocates LLP, we specialize in providing strategic guidance and comprehensive solutions to optimise tax positions for multinational businesses. Our suite of services encompasses;
- Preparation of transfer pricing documentation
- Advice on compliance with the “arms length” principle
- Thin capitalisation
- Dividend and interest planning
- Profit repatriation
- Expatriate tax planning
- Ongoing Tax Compliance
- Transfer pricing controversy resolution
