Tax reporting and strategy: Managing tax in a dynamic and digital world

• Initial set-up of payroll in different software
• Computing from gross to net (or vice versa) of monthly salaries and related contribution charges and personal income taxes
• Preparing and filing of monthly payroll related tax returns (i.e. social and health contributions and personal income tax) as well as any other filing associated with the payroll function
• Payroll support for foreign individuals
• Preparing of all bank documents related to the payments of the salary.

• Preparing of the monthly VAT purchase and sale ledgers
• Preparing and filing of the monthly VAT return
• Preparing and filing of the monthly Withholding tax (WHT) return
• Supporting with the calculation and documentation of WHT
• Supporting with the process of the application of the double tax treaties with regard to the exemption or reduction of WHT
• Periodic review (monthly, quarterly or annual) of the tax returns
• Assistance with the procedure of the VAT and other taxes reimbursement
• Use of Engagement Center (EC) and Integrated Global Compliance Services (IGCS)

• Preparing of annual CIT calculation through detailed analysis of the non-deductible expenses and non-taxable revenues as well as other elements of the CIT return
• Filing of the CIT returns to the tax office
• Preparing supporting schedules with differences between the financial statements and the CIT return
• Preparing deferred tax calculation and performing deferred tax review
• Tax advice regarding the treatment of selected transactions within the CIT law
• Periodic (monthly, quarterly or annual) CIT review

• Fiscalization legislation - Impact assessment and support with the first implementation
• Preparation of the Manual for Fiscalisation
• Training services on fiscalisaton
• Tax health check with regard to the compliance with the fiscalization legislation 

• Advising, supporting, reviewing and testing the localisation of the accounting and tax modules of the ERP for its full compliance with the Albanian legislation
• Providing professional support on the customisation of the financial reporting package to be used for management purposes or for statutory purposes

Do you want to properly manage your finances and comply with the accounting and tax legislation in the country? Do you want to focus on your core business and let your consultant take care of accounting, financial reporting and tax affairs?

You can do this through the outsourcing of your finance department to PwC. Our professional staff will make sure that you comply with all the requirements of the accounting and tax legislation as well as assist at any time your management team with all the financial and tax reports.

Business Issue 

A tax function’s ability to deliver value depends on how well it is able to adjust to today’s ever-evolving regulatory changes, while supporting the company’s business strategy. Too many corporate tax functions are struggling to address operational ineffectiveness. Expanding regulatory requirements and limited resources means that most tax departments are trying to accomplish more with less and senior executives are taking notice.

Description of Services

The Tax Function Effectiveness service offering provides flexible, but thorough, solutions to help improve your tax function’s performance while reducing your risk. We start by providing you with insight into the current-state of your tax function operations. Our holistic and scalable approach will directly impact efficiency and effectiveness, including people, process, technology, and data.

PwC can assist with the following:

• Tax Transformation
• Organizational Design
• Functional Effectiveness
• Accounting Remediation

Target Client

Businesses undergoing transactions, finance or IT transformation, changes in tax or finance leadership. Companies recently reporting a material weakness in accounting for taxes.

Business Issue

Transactions, no matter the form, present both complexities and opportunities. Tax leadership must ensure that the transaction is properly executed, there is no interruption to the business and synergies are captured. But they can also use transactions as a catalyst to enhance and optimize their people, process, data and technologies and to ensure tax is seen as a strategic business asset. 

Description of Service

The TRS Deals group provides transaction services focusing on pre- and post-merger integration of the tax function.

PwC can assist with the following:

• Integration readiness
• Separation readiness

Target Client

• Businesses undergoing a transaction such as merger; spin-off or separation; purchase of assets or a carved out business.
• Businesses with new tax or legal leadership or complicated legal entity organizational charts.

Impact/Benefit to Client

Working with PwC's TRS Deals team, clients can mitigate risk and manage change during a transaction. The Deals team can help clients ensure there are no disruptions on Day 1 because of tax, align the tax and legal operating model to the post-close business, capture and create tax synergies, save SG&A costs and improve risk management.