Tuesday, 11 December, 2018

Services Taxes


Tax Planning

For SMA, Tax Planning (also known as Tax Engineering) is a highly demanding discipline that combines several skills and expertise such as optimization of processes, commercial, civil and tax law, finance and economics, and so forth, in order to reduce the tax burden, taking advantage of all the benefits the law allows.

Tax Advice

It is always possible to optimize the tax payment, to embrace optional rent regime (chapter of the International Tax Regime) or to reorganize societies in order not to waste tax credits which are the typical examples widely applied in Venezuelan enterprises. However, there are many relevant situations that deserve to be planned on tax matters, since in several opportunities the profitability of a business depends among other aspects on how the management is prepared with regard to the following points:

    • Tax obligations.
    • Fiscal situation.
    • Performance in regard to the power of verification, control and determination of the obligation by the Tax Administration.
    • Formal duties.
    • Recovery of Taxes.
    • Review acts of Tax Administration and Administrative Resources.
    • Expert-level consultations on Tax Litigation Resources and Arbitration Tax.

Transfer Pricing and Advance Agreements

    • Preparation of Informative Declaration on operations abroad, carried out among related parties (Form PT-99).
    • Preparation of Contemporary Documentation of the operations executed among related parties.
    • Review acts of the tax administration and administrative resources.
    • CExpert-level consultations on Tax Litigation Resources and Arbitration Tax.
    • Elaboration and analysis of the information regarding to the subscription of Advance Pricing Agreements (APA’s).

Accounting and Tax Outsourcing

Outsourcing is the economic process, in which a company contracts another company to provide particular services, for that reason SMA offers profitable and successful solutions, with high quality components, supported by the best people, technology, innovation and efficient management of financial resources, ensuring the viability of our solutions over time. Among the main services offered are:

    • Preparation of declarations for periods (VAT and Income Tax).
    • Preparation of declarations concerning Withholdings (VAT and Tax Income).
    • Revision, determination and control of the parafiscal contributions (LOPCYMAT, LCyPJ, FAOV, IVSS, LOCTI among others).
    • Preparation and control of legal books.
    • Making of monthly accounting reports.
    • Emission of reports to the parent company.
    • Monitoring the compliance of legal standards.
    • Outsourcing collection and litigation portfolio recovery.