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Taxation

TMC Services > Services > Taxation

TMC seeks to provide tax solutions that maximise value and minimise risks for its clients, primarily through 4 core service lines: Tax Risk Management, Tax Advisory Services, Tax Compliance and Tax Audit and Litigation Consulting.

Tax Risk Management

TMC enables its clients to effectively set themselves up to manage their tax affairs effectively using a holistic tax management framework that encompasses:

  1. A Tax Control Framework that has the appropriate policies, systems, processes and procedures to facilitate smooth operations of the tac function.
  2. People: ensuring that those who handle tax matters have the appropriate skills, experience and qualifications, and that the entity has the right structures in place to facilitate effective tax management.
  3. The suitable deployment of technology to optimize the entity’s tax compliance levels
  4. Undertaking regular tax controls reviews and health checks
  5. Tax Risk identification, mitigation and action planning
  6. Proper records management and maintenance of data
  7. Effective stakeholder engagement and relationship management

Tax Advisory Services

TMC assists clients in the following areas, among others:

  1. Setting up and doing business in Kenya and other East African markets, structuring international, cross border entities.
  2. Advising on tax incentives available for investors and how to ensure these are taken advantage of in a timely manner and in accordance with various tax laws.
  3. General advice to clients on industry/sector specific tax planning and optimization opportunities arising from their business strategies, transactions and operations.

Tax Compliance Services

TMC assists its clients in the preparation or review of direct and indirect tax computations and advising on provisions, tax assets and liabilities; TMC also assists clients in responding to queries and concerns raised by revenue authorities.

Tax Audit and Litigation Consulting

TMC assists entities in handling revenue authority audits and compliance checks throughout the life-cycle, including:  

  1. Responding to initial queries and requests for audit
  2. Review of documentation and responses to requests for information and thereby identify and mitigate potential risk areas
  3. Attendance of opening, progress and closing meetings
  4. Review of audit findings, reports and tax assessments, and crafting responses thereto
  5. Negotiating for settlement of non- contentious issues
  6. Preparation of documentation for tax dispute resolution
  7. Crafting and implementing a dispute resolution strategy, whether through the formal court/tribunal process or alternative dispute resolution.