International Statutory and Taxes

Value-Added Tax (VAT) is an indirect tax—similar to sales and use taxes—utilized by authorities throughout the world. VAT is imposed at the different stages of production on goods and services, while sales tax is imposed on the retail sale of goods. Understanding the impact of VAT on your accounting is paramount.

At CKH Group, our international knowledge of VAT focuses primarily on Europe, the Middle East and Africa (EMEA). Through our network of firms, we are able to meet all VAT registration and compliance needs, including:

• Multi-jurisdictional expertise for compliance and reporting
• New registrations assistance
• Data extraction and preparation
• Compiling VAT reports and backup files
• Compiling Intrastat and EC sales lists
• Submission of returns with local authorities
• Funding request and balance sheet reconciliation
• Process automation and quality reporting

Look to us to enact real-time accountability standards for VAT compliance and assist you in setting up processes for proper return filings and account reconciliation. We’re knowledgeable in compliance reporting standards and can provide pivotal consulting to help your business remain accountable. We have experience with distance selling regulations and cross-border trade compliance.

Our teams assist you with implementing VAT codes and rules, to streamline your reporting function, while keeping you compliant across the board. Contact us today to learn more about how we can simplify VAT compliance for your organization.

Often, companies are required to prepare financial statements on the basis of accounting referred to as Generally Accepted Accounting Principles (U.S. GAAP). There are two mainstream frameworks driving the majority of the basis of accounting: U.S. GAAP and International Financial Reporting Standards (IFRS).

• Used primarily in the United States, U.S. GAAP is a rule-based accounting standard.
• Used in more than 110 countries around the world, IFRS is a more principle-based standard.

At CKH Group, our team of qualified accountants will assist you in the preparation of both U.S. GAAP and IFRS-compliant financial statements. Through our network of firms, we’re able to assist you with the compilation of financial statements in the Europe, the Middle East and Africa (EMEA) region, adhering to the ruling local framework.

If your business requires reporting under U.S. GAAP, IFRS or both frameworks, CKH Group is ready to assist you. Contact us today.

Under governance of federal securities laws, public companies must submit quarterly and annual reports of consolidated financial position and earnings.

Businesses based in the U.S. must report financials in accordance with US Generally Accepted Accounting Principles (GAAP). For public companies with foreign interests within their group structures, local reporting frameworks may also apply that differ from the U.S. GAAP framework. CKH Group offers clients expert familiarity with U.S. GAAP and all forms of local GAAP reporting.

Not only do we reconcile your taxes across frameworks, we identify and mitigate reporting differences that may otherwise cause confusion. Through in-depth analysis of diverse reporting methodologies, we differentiate between a true framework difference and accounting errors or oversights. Our reconciliation process works in tandem with foreign tax accounting, where deferred tax implication caused by different frameworks are considered and accounted for.

CKH Group has an experienced team of qualified accountants to assist you with U.S. GAAP and local GAAP reconciliation. More importantly, we use this expertise to help you interpret the true nature of any differences, remediating errors and clarifying discrepancies. Contact us today to have your financial reporting executed by tenured expert.

CKH Group provides customized tax accounting services for non-U.S. entities required to report under the U.S. GAAP framework. Our agile team works closely with finance professionals across the world to interpret local corporate tax filing requirements, including any tax group benefits and intergroup charges. Our primary services include:

• Preparation or review of short period and annual tax provision calculations.
• Reconciliation between tax provision and return.
• Validation of current and deferred tax balances.
• Reconciling U.S. GAAP and local GAAP deferred tax treatments.

We perform a detailed analysis of deferred tax balances by validating each balance sheet item contributing to timing differences between U.S. GAAP and local GAAP, as well as book vs. tax base. Furthermore, we consider the recognition of deferred tax assets in circumstances where future taxable profits are uncertain.

With fundamental understandings of U.S. GAAP and local GAAP procedural reporting, CKH Group delivers precision tax accounting services, regardless of your business type or scope of operations. Contact us today to begin consulting with us on the best way to compile, remit and reconcile your taxes.