Tax Planning & Preparation

Company Tax Planning & Compliance
It is all too easy for businesses to find themselves swamped in tax complications. We aim to ease the tax burden, remove the stress from management and provide commercial solutions, leaving clients with more time for their core business activities. We prepare corporate and partnership tax returns carry out tax planning exercises, and advice on PAYE and VAT/NHIL matters. For our corporate clients, careful tax planning is required for all material business transactions. For unincorporated businesses we regularly provide advice and support on incorporation, and profit-sharing strategies. Our clients come to us for commercial and independent advice. We save them money; we save them time and the results are immeasurable.

Investigations
No one wants to become the focus of an investigation by the GRA. But with random enquiries now within the Revenue’s armoury, no one is above the scrutiny and apparently innocent questions than easily turn into a full-scale enquiry. Such investigations cause worry, consume time and can have significant cost implications. Specialists within our tax practice deal with investigations; they reduce the pain, negotiate with officials and minimize the liability. We pre-empt such investigations by conducting, with consent of our clients, tax health checks (tax audits) on their records to reveal their true tax liabilities and to determine their levels of tax compliance and, thereby, their level of exposure.

Personal Tax Planning
We offer an independent and confidential service. We offer advice on personal finance planning and, thereby, minimizing tax liabilities as well as taking up the preparation of tax returns.

“If you're not sure where to turn or have tax issues that seem unworkable, you're not alone. You want clear communication and direction about the most effective and efficient ways to reduce and manage your tax risks.”

Tax legislation is becoming increasingly complex and multi-layered. The continuing globalization and permanent new regulations hold tremendous challenges from a tax perspective. As a result, mitigating risks and positioning for opportunities in today’s complex business and tax environment requires clear advice and direction. The reason why you should contact us for global solutions to the complex tax challenges. Improve your overall tax situation by working with Sarsson Consulting. Every day we work with businesses and individuals to enable the effective use of strategies that reduce and manage tax liabilities. After working with us, you will have tax planning that ensures you stay in compliance while minimizing your tax burden.

Our Business Tax Solutions

• Assist with the registration of new companies with the relevant tax authorities for companies income tax (CIT) and value added tax (VAT) and processing the initial tax clearance certificate
• Monthly calculation and remittance of WHT and VAT
• Review and submit the company’s income tax (CIT) returns – GRA
• Conduct a tax compliance review of the Company’s tax and accounting records, covering Value Added Tax (VAT), Withholding Tax (WHT), and employee related taxes
• Completion and submission of companies quarterly tax self-assessment forms to the Ghana Revenue Authority (GRA)
• Assist in responding to routine tax queries and other requests for information by the Ghana Revenue Authority (GRA), or any other regulatory agency that may be referred to us
• Provide advisory opinions at the company’s request on various tax or regulatory issues relevant to the company’s operations Transfer Pricing

Special Tax Support Services
1 Transfer Pricing
Transfer pricing affects companies with an international parent, separate subsidiary or sister company who are mostly at risk of double taxation. You're a growing global business managing global operational matters, and you want to avoid profit-draining risks. Every day, our specialized tax experts works with companies, like yours, on transfer pricing. The risks associated with running a global company can be avoided.

Here is Sarsson’s five-step process that enables you to avoid transfer pricing pitfalls:

• Step 1: Risk assessment to analyze all current pricing policies on a country-by-country basis
• Step 2: Review to estimate exposure
• Step 3: Strategic planning to develop and implement pricing strategies that achieve overall tax objectives
• Step 4: Documentation of pricing methodology for all material intercompany transactions.
• Step 5: Support and assistance through transfer pricing controversies.

2 Tax Credits and Incentives
Every day, Sarsson Consulting works with companies to determine the tax credits for which they may qualify. With our dedicated team, working with individuals, partnerships, pre-revenue, growth and mature companies to enable them to monetize tax credits that will inure to their benefits. We are well positioned to advise you on developing compliant, tax-efficient structures that help advance your business goals.

3 Mergers & Acquisitions
Whatever type of transaction you are contemplating - an acquisition, disposition, merger, joint venture, IPO, public-to-private, restructuring or refinancing - your tax obligations must be carefully assessed and your cash flows optimised. Sarsson’s extensive experience of M&A; tax specialists can help you structure your transaction to ensure that it is: Efficient in the context of commercial and financial considerations Focused on strategic priorities Progressed with the urgency a deal often requires

4 Tax Controversy & Dispute Resolution
Multinational companies (MNCs) are facing the most challenging tax environment in history: a convergence of global forces has resulted in a substantial increase in the number and size of tax audits, assessments, and disputes with revenue authorities in Ghana. Fiscal demands on developed and emerging countries have placed considerable pressure on governments to raise revenue and prevent the erosion of their tax bases. Governments worldwide are cooperating as never before to share taxpayer and industry information, assist other countries with document and information requests, and participate in separate multi-country audits (including “simultaneous” examinations).

Some countries are even considering the concept of "joint audits" where a single audit team--comprised of government tax inspectors and auditors from two or more countries--examines a specific taxpayer. At the same time, MNCs especially are experiencing increasingly complex regulations, heavy penalties, and transparency and disclosure issues. These global forces have created an unprecedented surge in audits and disputes. Virtually no area of tax enforcement has escaped this phenomenon, which includes direct taxes (domestic and international) and indirect taxes (e.g., VAT and GST), as well as specialist areas such as customs, tax fraud, and white collar tax issues.

This new situation places a premium on audit and dispute prevention techniques because MNCs are under constant competitive pressure to structure their worldwide business operations effectively and efficiently. MNCs need to develop coordinated approaches to audits and disputes around the globe, adopt preventative measures (such as pre-filing rulings and enhanced relationships with certain revenue authorities), and leverage both traditional and new alternative dispute resolution techniques in order to achieve the best possible results.

Sarsson’s Tax Controversy and Dispute experts assists taxpayers in this emerging area. We can work with you to prevent, efficiently manage, and favourably resolve tax audits and disputes. We combine deep technical understanding, local knowledge, and strong relationships with government officials, tax litigation experience, and a global perspective to provide you with unrivalled service.