Mazars team has always been solving vital business issues, adapting to the needs of our clients and the market. In light of the current crisis, we have built expertise to support your business. We focus on practical steps of implementing anti-crisis measures that can help companies in the current circumstances.
1. RECOMMENDED MEASURES RELATED TO CHANGES TO LEGISLATION
Implementing tax support measures and using tax reserves
- Analysis of the possibility of applying COVID-19 related tax support measures by a legal entity, with an assessment of the financial result of the application. Assistance in communication with the tax authorities (if necessary);
- Identification of tax reserves (analysing the possibility of using privileges provided in the Tax Code, as well as sectoral and investment incentives). Supporting the practical implementation of these benefits;
- Support during desk VAT refund audits, including the cases of providing services to foreign contractors, reimbursement of overpaid taxes (using tax reserves);
- Developing measures to mitigate the risks associated with losses (restructuring and changing the operating model, changing the pricing model, including transactions with interdependent parties, etc.);
- Financial structuring and repatriation of profits with respect to the expected changes in the legislation (starting to apply the MLI (Multilateral Convention to Implement Tax Treaty Related Measures), increasing dividend and interest rates up to 15% in a number of jurisdictions, etc.);
- Including the company in the register of small and medium-sized enterprises to obtain additional tax and non-tax benefits.
Supporting commercial aspects of business
- Assistance in settling rent payment issues related to COVID-19 (deferral of rent payments, reduction of rent rate): preparation of arguments for the specific case, support during negotiation process, preparation/verification of supplementary agreements to lease agreements;
- Legal support of remote sales (consulting on legal aspects of implementation, preparation of internal documents, remote sales rules, personal data processing policy, verification of website content);
- Legal support in resolving disputes with counterparties, including the cases of non-fulfillment of contracts;
- Legal support in debt settlement with counterparties.
Managing human resources
- Advisory on labor costs optimisation;
- Legal support in optimising the approach to the structure of salaries and working hours;
- Legal support in reorganizing HR activities.
- Advisory and legal support in optimizing the company's corporate structure;
- Consulting and legal support to assure correct paperwork for registration of corporate changes in the current situation;
- Consulting and comprehensive support on termination of the company's activities.
2. AS OF TODAY, THE FOLLOWING SERVICES MAY ALSO BE RELEVANT:
- Standard accounting procedures / services
- Replacing an accountant
- Short-notice quarter closing
- Transfer pricing notifications
- Corporate reporting
- Payroll (recalculations due to COVID-19) provided remotely
Mazars LABs (Consulting)
- Robotic Process Automation (RPA)
- Data & Analytics, including developing functional reports for making right managerial decisions
Financial Advisory Services
- Forecast of financial effects in case of business restructuring
- Deal advisory