Are we prepared?
Companies should ensure timely filing of their tax returns. Mitigating and managing tax risks and disputes requires a good understanding of tax legislation and so getting proper guidance and advice is important.
Common mistakes in Corporate Income Tax calculation
■ Incorrect assessment of tax incentives
■ Over-claimed deductible expenses
■ Insufficient supporting documents for expenses
■ Unclear/incorrect documentation related to cross-border transactions
■ Inappropriate allocation of expenses among related parties
■ Incorrect claim of tax losses carried forward
■ Incorrect treatment of promotional expenses
■ Labor expenses in non-compliance with labor code
How KPMG can assist?
■ CIT incentive review
■ Marketing & promotional expenses review
■ Inter-company transactions review
■ Deferred tax management
■ CIT health check
■ CIT planning
■ COVID-19 related deductibility
■ CIT quarterly calculation and annual preparation
■ CIT annual declaration review
■ CIT compliance training
■ Related Party Transaction disclosure support
Explore our edition of Corporate Income Tax 2021