WHAT WE DO BEST
Our professional and caring staff is dedicated to delivering only premium quality and comprehensive financial services. This is one of the highest priorities of our Firm.
Assurance services provide financial statement and internal control attestation services and other assurance related services. Our professionals examine and attest to a company’s financial statements through financial and internal control audits. Our audit approach focuses not only on financial statement-related processes, but also on business drivers, the associated risks, and their potential effects on financial statement accounts.
Monthly financial statements are important to organizations as they give management a picture of a company’s financial performance. Increasingly, organizations find it efficient to outsource this function in order to cut down costs. Basil & Alred offers a service, which includes the preparation of monthly financial statements, financial reporting, fraud investigation and payroll.
Attitude towards taxation is changing. Governments are enacting new tax regulations and tax authorities are increasingly becoming smarter in collecting taxes. Our tax professionals have practical experience that will help you meet these challenges. Our tax services are include but not limited to.
In today’s environment, tax compliance places significant demands on tax and accounting departments. Are you paying the right amount of tax? Are you paying on time?
At Basil & Alred, we help our clients comply with the law by assisting them in the areas of Value Added Tax (VAT), Pay As You Earn (PAYE), Corporate Tax, Individual Tax and Withholding Tax. Our services include preparation of monthly, semi-annual and annual returns.
The much anticipated Tanzania Transfer Pricing Regulations (“the Regulations”) were publicly released in May 2014. The relevant instrument is Government Notice No 27 (“The Income Tax (Transfer Pricing) Regulations, 2014) published on and effective from 7 February 2014.
How we can help you:
- Strategy and policy development
- Governance optimization and decision making process to help:
- Reduce impact of year-end adjustments
- Monitor transfer pricing footprint
- Coordinate across organization
- To provide assistance to support transitions to new documentation requirements
- Health Check entails a detailed review of the various taxes that the company is required to comply with including: excise duty, corporate tax, employees’ taxes, withholding taxes, Value Added Tax (VAT), stamp duty and Skills and Development Levy (SDL).A tax health check will add value to a company because:
- It will assist in identifying areas with great potential tax risk for enhanced focus and thus reduce tax exposure and avoid undue penalties and interest in the future.
- The exercise will assist in identifying areas with potential strategic tax planning and opportunities that a company can take advantage of and optimize its tax position.
- The exercise will mitigate any surprises in case of a Tanzania Revenue Authority (TRA) audit.
- The exercise will help companies to proactively manage the tax risk
- The exercise will help Basil & Alred tax experts to assess and identify skills gap on the company’s concerned staff for training purposes. Properly trained staff will enhance compliance and therefore mitigate tax exposures and reduce compliance costs in the future.
support transitions to new documentation requirements
- Basil & Alred tax professionals draw on their experiences to assist our clients navigate through the challenges of tax planning and compliance to minimize tax liability that may arise from business deals or from day-to-day activities of their businesses. We also advise on matters relating to structuring of compensation including that of foreign employees (expatriate staff).
- We provide an annual budget review immediately after the Annual Budget which is aimed at giving our clients an over view of the proposed changes and how they impact on various industries and the environment within which our clients operate. Thereafter any follow procedures aimed at assisting a specific client or industry to understand or implement the changes can be arranged at the request of the client. Such training would be tailored to meet the specific needs of the client or industry. We also hold seminars from time to time on tax issues.
Basil & Alred Advisory team conducts special assignments based on a client’s need not limited to special purposes audit, financial due diligence and process review. The Advisory practice also provides assistance to companies faced with opportunities such as a merger, acquisition or a new product or challenges such as competition, fraud or technological changes. We use our experience to advise our clients on how best to meet the challenges and turn them into opportunities.
Our Advisory Services include
- Revenue Assurance – we advise our clients on issues relating to billing and collection of revenue
- Performance Improvement – we advise our clients on how to increase organizational effectiveness and efficiency to improve the ability of the organization to deliver goods and or services.
- Risk – Basil & Alred provides comprehensive risk services through a suite of strategic, outsourcing and industry-focused operational solutions that help companies and organizations evaluate and enhance their internal audit and risk management functions. Our services help clients better understand and manage their business risks, improve business processes and operating efficiency, and assure the validity of their business information
- Internal Audit – designed to add value and to improve organizational operations.
- Internal Control – designed to assist organizations in evaluating operating effectiveness of its internal controls over financial reporting.
- Information Technology (IT) – we assist organizations manage IT risks so that management can rely on the information obtained from the system.