Tax Compliance Services

Stemic provides specialist corporate tax and business tax advice. Our expertise runs from advice on Senior Accounting Officer process, tax risk, and strategy to tax compliance and reporting to R&D tax credits and Venture Capital tax reliefs. Our senior tax specialists combine first-rate technical knowledge with broad commercial experience. They are driven by helping our clients’ businesses achieve success and growth.

Every Company, Trust, Partnership, Society, and individual with income whether taxable or exempt must register with the revenue office and be issued a tax registration certificate (PIN). Meeting the tax reporting obligations is critical in managing business tax risks. Late returns and taxes in addition to reputational risks attract huge penalties, fines, and interest. At Stemic & Associates, we offer the following income tax statutory reporting requirements.

• Preparation of the income tax computations in accordance with tax legislation;
• Preparation of the income tax returns and filing with the revenue office;
• Timely advice on the tax amounts payable and due dates as well as assistance on tax remittances;
• Application and processing of tax compliance certificates;
• Attending to queries that may be raised by the revenue office in relation to filed returns; and
• Registration of new companies with the revenue office (PIN).

Our clients appreciate our personable and in addition to the above income tax statutory reporting we do offer the same services on the statutory monthly reporting requirements on VAT, employment taxes (PAYE, NSSF, NHIF, NITA), and withholding taxes. Overall we rely on internally set procedures and standards to ensure clients attain the highest level of tax compliance.

Professional service delivering accurate, authoritative tax advice and guidance. They rely on us to solve tax issues quickly and efficiently whatever the size of their company. Whatever corporate tax challenge or issue you are facing we have the experience and the knowledge you need. Talk to us today about how we can help.

Transfer Pricing Services

The laws surrounding transfer pricing are becoming ever more complex, as the tax affairs of multinational companies are facing scrutiny from the media, regulators, and the public.

Well-run businesses need to consider this new emphasis on compliance and audit activity. Through our international organization of member firms, we can help you understand these ever-more complex issues as your business continues its journey to growth.

Although these laws may share common features across various countries, the interpretations can differ from one country to another. Making sure you take the right approach to compliance takes time and patience, as demands and penalties from authorities are increasing.

At Stemic & Associates, our people can offer real insight into the following areas:

• Audit Support: Our sophisticated economic arguments, research, and databases can help you defend your transfer pricing policies before tax authorities.
• Documentation: We use local knowledge to prepare country-specific documentation to satisfy tax regulations in your region.
• Planning: The growth or restructuring of a company doing business internationally provides an opportunity to review transfer pricing and tax planning to minimize tax burdens.
• Supply Chain Re-engineering: We offer critical analysis of your supply chain to help you gain operational efficiencies.

Direct and Indirect Tax Services

Tax Dispute Resolution

Tax authorities worldwide are under pressure to generate revenue, causing a rise in tax audit activity across all types of tax. Particular uncertainty can arise as businesses seek to access new and developing markets where the local tax environments may be unfamiliar and unpredictable.

The pressure on tax authorities is resulting in more investigations, larger adjustments, and increased potential for penalties and interest. Wherever companies do business, they need to approach tax matters proactively and be ready to respond when a tax investigation begins. In addition, as revenue authorities seek to achieve their local goals, collaboration with other revenue authorities has become more visible and focused, leading to additional challenges in managing disputes across a number of jurisdictions.

Our Tax Dispute Resolution & Controversy Services teams help clients mitigate against risks and manage/ resolve issues so they can gain control over the uncertainty inherent in tax disputes within their operational jurisdictions and across borders.

Our specialists, including many former revenue authority officials, accountants and attorneys, are experienced in all stages of the tax dispute continuum. Our approach is designed to help organizations address tax disputes through effective strategies for their mitigation, management and prompt resolution.

a) Protect – Transaction & Documentation Review Tax Reporting

• Evaluating transactions ‘from the revenue authority’s perspective’ and providing assistance in working through the relevant processes to obtain technical rulings, opinions, and case laws in advance of your transactions.
• Preparing documentation and files to support tax positions in anticipation of future tax authority requests for information.
• Navigating voluntary disclosure, advance compliance, and other tax authority programs.

b) Manage – Tax audits & Queries

• Responding to tax authority demands for information or documentation.
• Negotiating audits, responses to audit queries, and, where regulations permit, judicial appeals.
• Engaging with the tax authority to agree on a project-based approach to progressing issues collaboratively.
• Working with senior officials to help ensure stated administrative policies and procedures are followed.

c) Resolve – Tax Dispute & Controversy Process

• Making informed decisions on preferred options for resolving difficult disputes (e.g. alternative forms of dispute resolution and/or litigation).
• Finalizing settlements and ensuring appropriate documentation is maintained.
• Managing the tax dispute resolution process in a no confrontational and effective manner.
• Use all available procedures and processes to help bring closure to your disputes, effectively and efficiently.

 Tax Planning

Wherever organizations operate in the world, they need to understand how changes in domestic and international tax laws and regulations may affect their company and how it operates.

Effective tax advice and planning that is tailored to the businesses needs and realities can help organizations adapt to all of the environments in which they operate, respond quickly to changes, mitigate risks and even gain a competitive edge.

Business tax costs can be excessive and often place a burden on profits and capital. However, enterprises can often reorganize their operations to enhance tax benefits.

As businesses become ever more global, their operating structures are adapting to manage complex supply chains. Much of the recent focus has been on reducing costs through centralized procurement and shared service centers. These commercially driven changes can have huge tax implications and there are real benefits when businesses incorporate tax planning into their business strategies.

We help companies integrate tax planning into business operations to help maximize growth opportunities, minimize expenses and risk, enhance return on investment and drive efficiencies across operations. Now, more than ever, tax needs to be an integral part of strategic business decisions.

Our teams are dedicated to proactive, results-focused tax strategies and are passionate about helping clients establish comprehensive approaches in typical business events, such as post-acquisition integration and restructuring, expansion, divestment, financing, rationalization, business change, and e-business.

Through our Value Chain Management (VCM) services, companies can get the right tax position for their end-to-end global operations, including manufacturing, logistics, sales and marketing, and customer service, as well as for service functions such as IT, intellectual property development, human resources, finance, and procurement. Our VCM services offering can help clients to optimize:-

• Operating Models: Integrating tax into the organizational design to support the business case intellectual property development, human resources, finance, and procurement.
• Intellectual Property: Capitalizing on tax opportunities in intellectual property, and providing wide-ranging assistance with the strategy
• Digital Revolution: Implementing tax effective structures within a digital value chain

Tax Training

Stemic & Associates tax has a team of accredited trainers who are also experts in their respective tax fields. These teams conduct specialist and generic tax training for our clients.

Some of the notable differences in our tax training include the following:

• Our training is usually tailored to the specific needs of our clients;
• We are flexible and will train at the time and place convenient for our clients;
• We address the various tax issues in the context of the local and international economic circumstances affecting our clients;
• Stemic provides reference materials to the attendees who participate in the tax training sessions;
• Stemic offers personalized Certificates of Participation to all our participants;
• DIT reimbursements for registered participants