ACCOUNTING SERVICES

IAS’s Accounting Services Department staffed with skilled and long experienced partners and personnel, in organizing and comprehensively supporting the accounting department of any kind of business. The objective is the lawful, timely and qualitative representation of the business’s operation through financial reporting, which constitutes an essential tool for every modern business.

 

Our company specializes on and supports areas, such as:

 

  • Establishment of new companies, organization and initial setup of the accounting office and the financial services thereof in general.
  • Accounting office supervision for companies of any legal form.
  • All categories of bookkeeping and auditing.
  • Reorganization of existing accounting systems and accounting departments.
  • Accounting statements composition and tax returns (income, VAT, withholding tax etc.) and financial statements submission, as provided for by law.
  • Financial result analysis (monthly and yearly).
  • Timely reporting to the Management regarding the obligations deriving from all tax law provisions and any relevant law in general.
  • Accounting system organization.
  • Customization and keeping of accounting records, in accordance with the Greek Accounting Standards (GAS) or the International Financial Reporting Standards (IFRS).
  • Conversions, mergers, dissolutions of companies of any legal form.

PAYROLL MANAGEMENT

IAS’s experienced partners and personnel ensure confidentiality and provide correct and timely any business payroll compilation.

 

The payroll calculation, issuance and monitoring comprise the following sections:

 

  • Entry of company data and required details for each employee into our information system.
  • Personnel payroll issuance and management.
  • New employee’s admission, employee’s retirements – dismissals.
  • Special payroll issues.
  • Submission of all required statements to Social Security and Employment Organizations.
  • Consulting services regarding Labour and Social Security legislation.
  • Consulting services regarding Labour Controls.
  • Payroll cost estimation.

TAX SERVICES

IAS’s Tax Services Department utilizes the enormous experience of its partners and personnel and provides very high-level tax services in all levels of tax support for any kind of businesses, type of companies and individuals. The domestic and multinational companies operating in Greece, and the companies extending their business activities, have to comply with the tax laws and regulations, in order to minimize tax risks.

 

Our company’s specialized partners and personnel support areas, such as:

 

A. TAX COMPLIANCE

  • Ensuring the correct obsenance of bookkeeping and accounting data issuance.
  • Contract compilation or overview.
  • Tax burden optimization (expense productivity etc.)
  • Audit and monitoring of correct tax imputation.
  • Tax issues resolution in KEFOMEP (Audit Authority for Very Wealthy Taxpayers), KEMEEP (Audit Authority for Large Enterprises), Tax offices etc., for which a tax consultant is required to be present.
  • Individuals special tax issues.
  • Undertaking of income tax, VAT etc. refund processes.
  • Preparation, handling and dealing with tax audits.
  • Support during any kind of tax audit provided to both companies and individuals.
  • Use of tax incentives provided by development laws.
  • Settlements and administrative appeals.

 

B. PROACTIVE TAX AUDIT

  • Timely identification of tax problems and suggestions for solving.
  • Tax advice and opinions according to any kind of business activities.
  • Future tax burden estimation.
  • Tax due diligence.
  • Foreign resident tax support.
  • Consulting services concerning individual’s property protection, for the documentation of the acquisition process thereof (asset and funds-source declaration).

TRANSFER PRICING

Companies of all legal forms operating in Greece are obliged to compile and submit a Documentation File for any transaction (purchases, sales, reception and provision of services, royalties etc.) with affiliated companies under specific conditions. In the context of the aforementioned obligation of companies, the Ministry of Finance has been staffed with excellently trained personnel and performs strict and comprehensive audits.

 

Taking into consideration the need of modern business structures which create complex intercompany relations and having access to international databases (the same ones used by the Ministry of Finance itself), IAS and its partners and personnel support the documentation of transfer pricing and render these transactions fully in line with the due process of law, providing:

 

  • Support for the compilation and submission of the summary data table to the General Secretariat for Information Systems.
  • Selection of the transfer pricing determination method.
  • Transfer pricing documentation file preparation and compilation.
  • Transfer pricing documentation file update.

MANAGEMENT REPORTING

Nowadays, businesses’ management teams need to receive and manage (handle) all necessary information regarding their financial data monitoring very fast. Having at their disposal, qualitative analysis provided to them by IAS’s partners and personnel, they can safely plan their actions. Management reporting is an indispensable tool for every company’s managerial team, which helps them take the necessary decisions and plan for the future.

 

Therefore, IAS safely offers its customers valid and timely reporting, by providing:

 

A. FINANCIAL STATEMENT COMPILATION (FINANCIAL ANALYSIS & FINANCIAL REPORTING SYSTEM ORGANIZATION)

E.g.:

  • Monthly financial results and forecasting Year-to End financial results.
  • Direct & indirect cost analysis per cost center and per expense type.
  • Short-term results identification and short-term balance sheet compilation.
  • Financial indexes configuration.
  • Cash flow.
  • Budgeting.
  • Credit policy definition, audit and implementation.
  • Definition of reserve value and circulating speed thereof.
  • Use of index numbers in everyday business activities.

 

B. MANAGEMENT BRIEFING BY PROVIDING:

  • Company financial statements and data analysis presentations and suggestions for the improvement thereof.
  • Immediate communication with IAS’s partners and personnel for resolving any matter within our competence.
  • Visit to the company’s premises by an experienced IAS partner, in order to discuss and resolve any relevant company issues.

 

C. COOPERATION WITH THIRD PARTIES OR ASSOCIATES

In the framework of the provision of high standard services and reporting to its customers and having the comparative advantage of collaborating with experienced professionals, IAS offers all its specialized services in cooperation with:

 

  • Reputable legal consultants specializing in Tax and Labour Law to support disputes against the Greek Government or any third parties and to provide legal advice in general.
  • Certified public accountants, to issue a regular audit certificate and a tax certificate as required for the companies, and to compile merger or dissociation reports etc.
  • Reputable financial consultants, to subject any kind of business to the applicable development laws (National Strategic Reference Framework, NSRF etc.).

COMPANY PLANNING – STRATEGY

Every modern company is obliged to clearly define, sort and gradate their objectives, by evaluating them based on their importance, having fully understood the business environment within which it is operating and precisely defined its position therein.

Meanwhile, it seeks new opportunities that will make it completely competitive in a constantly changing environment.

 

IAS’s experienced partners and personnel assess the needs of modern companies and offer suggestions and solutions for higher quality of information management and for company planning according to:

 

  • The alternatives deriving from the evaluation of the company’s activities (legal form, transformation process suggestion etc.), aiming to update the corporate image (towards investors, banks, customers, suppliers etc.).
  • The selection of appropriate company structures, after defining the company goals, for the implementation of which IAS fully supports any restructuring, merger, division, dissolution, acquisition and liquidation.
  • The economic growth, as a result of the defined company planning implementation.
  • The most advantageous tax management for companies and individuals.

 

For these reasons, IAS supports the suggested solutions by developing special projects, such as:

 

  • Business plan devising and monitoring.
  • Budgeting.
  • Company valuation concerning investment opportunities.
  • Financial and tax due diligence.
  • Sustainability audit, result maximization through commercial policy improvement and cost reduction (operating & admin costs).

INTERNATIONAL ENTREPRENEURSHIP – EXTROVERSION

Due to the economic globalization, many extrovert domestic companies need to expand their activities outside Greek borders. IAS’s partners and personnel have many years of experience and deep knowledge of the tax requirements in the countries inside European Economic Area and provide a wide range of services in such countries. Practical tax advice combined with the compliance framework IAS observes regarding such countries’ taxation, assure the implementation of a consistent tax approach in all countries.

 

In this context, IAS supports services such as:

 

  • Establishment process for companies of any form.
  • Company bank account opening.
  • Accounting and tax support with the cooperation of local accountants – consultants.
  • Management reporting concerning the course of financial data and results.