A tax efficient business is structured to provide the optimum level of tax burden while minimizing expenses from maintaining the business processes and tax risks.
How KPMG could help?
We suggest concentrating on the following areas by adopting a unified approach, determining and allocating responsibilities, and providing timely actions and control of tax processes:
30% of a company’s working capital was ‘frozen’ in VAT.
We offset VAT and ‘unfroze’ all 30% of the working capital.
A company was unable to offset 83% of VAT on purchased goods on time.
We have developed a process of timely VAT offset through which 85% of VAT is refunded during the submission period.
A group of companies’ effective tax rate exceeded 37%.
We helped the company to reduce the effective profits tax rate to 20%.