Business Compliance Services

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Reducing the burden of income tax compliance and accounting for income taxes

The dedicated corporate income tax professionals in our Business Compliance Services ("BCS") group are ready to help your company face the challenges of the increasingly complex requirements of income and capital tax return preparation and quarterly and annual tax provision preparation.

Accounting for Income Taxes

Accounting for income taxes is becoming more complex and burdensome with increasing regulatory requirements and changing accounting interpretations. Errors in accounting for income taxes are also receiving more profile than ever before, due to the increased regulatory requirements and a greater focus on controls over the tax function. At the same time, quarterly and annual reporting deadlines seem to keep moving up, providing less time for your company to prepare accurate tax provisions.

Our corporate tax professionals have been specially trained in accounting for income taxes and can help your company with its local tax provision process. In addition, our global network includes tax provision experts in more than 70 countries who have extensive experience in multi-territory income tax provision engagements to assist multi-national companies with their tax provision process.

Income and Capital Tax Return Preparation

The accurate and timely filing of corporate income and capital tax returns is a legal necessity. The nature of income tax compliance has changed substantially in recent years as governments demand more and more information. It is therefore not surprising that many companies struggle to keep current with ever- changing tax laws as well as finding time to fulfill this expanding legal obligation with limited internal resources.

At the same time, there are numerous downsides to errors in tax compliance, including exposure of your company to non-deductible interest, penalties and possibly damage to its reputation, the consumption of management time and energy dealing with prolonged tax audits, the needless overpayment of taxes, missed opportunities for effective tax planning and possible misstatements in the tax charge on your company's financial statements.

Our BCS groups in Montreal, Toronto and Vancouver are comprised of highly trained tax practitioners dedicated to assisting clients with their corporate income and capital tax compliance needs. We have developed our own proprietary software such as the ITDO (Internet Tax Data Organizer), a web-based tool to reduce the amount of time you need to spend assembling the information required to complete your company's tax returns. For more complicated engagements, we have software applications that allow us to collaborate electronically with you, provide you with visibility over the progress of all projects and store key documents in electronic format. For companies with international operations, we would tap into our international compliance network of trained professionals to provide consistent and co-ordinated compliance services.

Contact a professional in your area to discuss how our BCS group can help you.