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Large corporate groups need specialist advice and services to manage their tax obligations. They are involved in complicated transactions and usually have unusual structures that are in place for historical reasons. In addition, there are special tax rules that relate specifically to corporations and corporate groups.
Our corporate and international tax group consists of experienced professionals with the necessary knowledge of these corporate rules, who are able to provide the specialist advice and deal with the corporate sector.
Key business issues
- Is the structure of your corporate group complex with a number of intra-group transactions?
- Are you worried that your systems are calculating your tax correctly?
- Does your financial or tax performance vary substantially from patterns in the industry in which you operate?
- Are you prepared for an ATO review?
- Is your business impacted by recent or impending tax reforms?
How we can help you?
BDO provides corporate tax management in a number of ways including:
Corporate tax risk assessments
Tax risks, like any business risk, need to be actively managed to ensure they do not undermine the future success of the business. We work with company directors and executives to identify tax risks, assess the impact of those risks, develop a comprehensive plan to enable the company to minimise the risks and assist the company to implement a risk management plan.
Corporate tax compliance and consulting
Our corporate and international tax experts assist corporate groups with their compliance obligations, preparing returns and lodging the required documents. They support the audit function in relation to the tax sections of the financial statements. They also provide on-going advice to corporate groups on all tax matters, particularly corporate-specific rules such as imputation and company losses.
The tax laws are complex and multinational groups need advice on the implications. Multinational groups also face a number of rules that don't apply to ordinary groups such as thin capitalisation rules and controlled foreign companies legislation. Our experts assist multinational groups with their tax obligations, advise on their structures and cross-border operations, and provide corporate tax compliance services for their Australian entities.
The tax consolidation regime was enacted in 2002 and was the most significant change to the tax law since 1936. While the concept of tax consolidations can simplify corporate compliance, the rules are exceptionally detailed, complex and, in many instances, non-intuitive.
Our corporate and international tax experts provide advice on the consolidation and de-consolidation process. In particular we assist groups that are consolidating by preparing detailed consolidation reports that outline the implications for each member of the group from the consolidation. We also provide continuing advice to consolidated groups on their structure and the consolidation issues that may arise from any transaction.
The Tax Office has increased its audit activity with respect to all taxes, using specialised tax risk models to identify audit targets. Many corporations have been found to have made mistakes or entered into transactions where the tax result was unclear. Particularly in relation to aggressive tax schemes, the Tax Office is not backward in invoking the general anti-avoidance rules and in issuing harsh penalties.
Our corporate & international tax experts have significant experience in assisting clients to manage their Tax Office audits, to defend the clients' positions in relation to particular transactions or arrangements, and to minimise penalties.