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

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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


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