Tax accounting services

IFRS, US and local GAAP require properly considered judgement and detailed mechanical accounting of current and deferred tax positions.

Are you able to minimise errors and avoid restatements? Do you have an accurate view of your company’s current and deferred tax positions, including uncertain tax positions?

Your challenges

Regulatory reviews by authorities such as the US Securities and Exchange Commission (SEC) and European regulators are the main cause of restatements of company accounts. Restatements can be initiated as a result of reporting inaccuracies like accounting errors, noncompliance with generally accepted accounting principles (GAAP) and more.

Errors are often the result of insufficient time and resources and lack of local tax accounting knowledge. To avoid penalties for noncompliance and potential reputational damage, you need to gain control of your tax accounting by designing and implementing a sustainable strategy.

The ability to accurately view your company’s current and deferred taxes, including uncertain tax positions, is also a crucial element of effective tax planning.

How we can help

Provisioning and forecasting

PwC can help with provisioning and forecasting, from local and cross-border compliance to preparation, review and reconciliation of quarterly/yearly tax reporting.

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Technology implementation

We’ll review your tax accounting and help you identify, source and implement the right software and technology for your organisation’s specific needs.

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GAAP conversions

To determine the impact of GAAP conversions on your income tax, we’ll perform conversion exercises between GAAPs in each territory where you do business.

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Tax accounting for transactions

We regularly assist with preparation and reviews of tax accounting packages (IFRS, US GAAP, local GAAP), tax accounting for acquisitions, (de)mergers and initial public offerings (IPOs), tax accounting remediation, business restructuring and other transactions that impact the tax position of entities and/or the consolidated group.

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Accounting for uncertain tax positions

We assist with the detection and assessment of uncertain tax positions. We provide technical assistance with recognition, measurement, reversal and disclosure of uncertain tax positions for entities and consolidated groups (IFRS, US GAAP, local GAAP).

We link uncertain tax positions with sustainable tax risk management, considering the group’s tax strategy and applicable reporting requirements.

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Tax law changes

We keep up-to-date on relevant tax law changes and assist entities and consolidated groups in implementing these changes in their tax accounting (IFRS, US GAAP, local GAAP).

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Our dedicated and diverse tax accounting team is composed of corporate tax and tax accounting specialists from Belgium, Europe and the US, providing deep in-house tax accounting expertise.

Our extensive international network and strong relationships with tax authorities and global tax accounting leaders help us stay on top of the very latest developments in income tax accounting - enabling us to assist your organisation in building and maintaining a sustainable tax strategy.

Contact us

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Contact us

Koen De Grave

Managing Director, PwC Belgium

Tel: +32 47 391 0213

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