Complicating matters are a dearth of qualified, experienced compliance professionals and the challenge of obtaining timely and accurate data from accounting and ERP systems and shared service centers not often set up for in-country compliance. Given these challenges, it’s not surprising that tax and finance departments often spend a disproportionate amount of time on compliance activities, rather than focusing on higher value activities such as strategic tax planning, risk management and closer integration with the rest of the business.
As a result, many companies are looking for more consistent, more efficient and more cost effective ways to meet their compliance obligations.
KPMG’s professionals understand the ever-changing and challenging business and regulatory environment. Our compliance service offering is responding to our member firms clients’ pressing needs.
Our services include the following:
- Assistance with management and co-ordination of cross-border and domestic tax compliance processes, technology and controls through the utilisation of the KPMG Link 360 software
- Assistance with tax computations and deferred tax reconciliations required for annual financial statement purposes
- Preparation, completion and submission of first, second and third provisional tax returns / payments
- Preparation, review and submission of income tax returns (including the supporting schedules)
- Preparation, review and submission of withholding tax returns in respect of dividends and other cross-border payments
- Review and reconciliation of notices of assessments with the returns submitted
- Assistance with disputes with SARS, and submission of objections and appeals against incorrect assessments, penalties and interest charges
- Assistance with submission of detailed responses to queries, audits and other correspondence received from SARS
- Submissions of applications for Income Tax registrations of new clients
- Assistance with applications for tax clearance certificates
- Preparation and review of tax compliance status reports for purposes of due diligence reviews
- Assistance with resolving SARS account queries, reallocation of tax payments incorrectly processed, changes of financial year-end, appointment of Public Officers and numerous related administrative compliance matters