Tax and Accounting Consulting

Our professionals with sufficient knowledge in both tax and accounting provide comprehensive advice covering both of the fields, which is the strength of Clifix.

Providing comprehensive advice covering both tax and accounting

While new accounting standards are published one after another and significant tax revisions take place almost every year, corporations have to consider both tax and accounting implications in making decisions. Our professionals have been engaged in both tax and accounting services with good balance as we do not divide duties in a strict manner. With wide-ranging and abundant knowledge and experience, our professionals provide high-quality advice, judging tax and accounting advantages/disadvantages and their implications comprehensively.

Recommendations from the standpoint of taxpayers, tax planning support for minimizing taxes

In responding to clients’ inquiries, we strive to provide recommendations from taxpayers’ standpoints at all times instead of conclusions biased toward tax authorities. Furthermore, in addition to communicating conclusions, we will also provide advice on how to prepare and retain evidence in a way that will smoothly facilitate tax investigations.

We also provide tax planning services to minimize taxes in a tax compliant way for clients’ prosperity. Clifix provides the best-quality services to clients in every stage of development, including listed companies, those preparing to go public, foreign affiliates, management-owned medium-scale firms, and start-ups, based on our long and abundant experience, taking into account the latest accounting and tax trends.

Accounting and tax consulting services

  • Supporting preparation of tax returns and statements or reviewing them
  • Providing advice on accounting treatment
  • Supporting adoption of latest accounting standards
  • Tax planning and advisory services
  • International tax services
  • Reviewing workflows
  • Expediting monthly and annual account closing processes
  • Preparing tax and accounting opinions
  • Providing second opinions

Accounting and tax advisory services

Our professionals have comprehensive knowledge and experience built without division between accounting and taxes. Therefore, we can promptly respond to your urgent business needs by providing one-stop advice and recommendations. In addition, besides tax and accounting, we will also respond to your legal and labor consultation needs in a comprehensive manner.

We will flexibly respond to your needs setting eyes on continuous corporate development.

Supporting tax returns and statements or reviewing them

We aim to reduce your tax risks and minimize the tax burden in a tax compliant manner. We sort out points and identify issues in advance and then prepare or review various tax returns. This enables us to make recommendations to minimize or mitigate tax risks while being tax compliant for the purpose of your business development. We also prepare or review more complex tax returns involving reorganization, consolidated tax returns, foreign tax credits, and the like.

Response to regulatory authority and investigation attendance services Not only tax compliant responses that fully leverage the text of provisions and precedents, our advisors who formerly served at National Tax Agency will support you in responding to tax investigations speedily and smoothly.

Providing advice on accounting treatment

Accounting treatment advice for companies going public
We will explain in detail and provide advice on accounting treatment that complies with the latest accounting standards, consolidated accounting, US GAAP and the like.

Advice based on both tax and accounting considerations
Items whose treatment differs between tax and accounting, such as impairment accounting and lease accounting, are increasing year by year. Therefore, applying proper accounting treatment based on either tax or accounting considerations is not plausible. Clifix supports clients in applying proper accounting treatment that meets tax and accounting requirements, which become increasingly complex year after year, by providing comprehensive advice based on both tax and accounting considerations.

Audit firm related advisory services
With respect to auditing by an audit firm, our experienced CPAs who formerly served at audit firms will support you in responding to the external auditor quickly and smoothly by validating assertions of your company against accounting regulations.

Supporting adoption of latest accounting standards

Clifix provides extensive support for companies in various stages of adopting latest accounting standards such as International Financial Reporting Standards (IFRS). We are committed to providing total support in various stages of IFRS conversion for clients considering voluntary adoption of IFRS or listed firms with the increasing possibility of mandatory adoption so that they can transition to IFRS smoothly.

Providing information on tax reforms and revisions to accounting standards.
We alert clients on topics relevant to their industries before and after tax reform policy releases and, depending on your requirements, we hold seminars on key points of such tax revisions individually.

Tax planning and advisory services

We aim to provide accurate profit and loss outlooks by understanding in advance taxes to be incurred in the future. By conducting tax simulations before financial closing, we support clients to accurately reflect taxes in their profit/loss and cash flow forecasts. In addition, we provide advice catered to each client’s status by conducting simulations so that the client can receive maximum tax benefits while being tax compliant.

International tax services

Supporting the calculation of foreign tax credits and the preparation of the attached tables of tax return
We provide foreign tax credit calculation services, which require complex and specialized knowledge, and preparation of the attached tables of tax return for foreign tax credits. In addition, we can also conduct foreign tax credit simulations based on your business plans and provide advice on advantages of tax credits and recognition as expenses.

Calculations and advice concerning the tax haven system
We can support you in judging whether your overseas subsidiary is subject to tax haven treatment, as well as preparing and simulating tax returns in the case of unitary taxation. Furthermore, by providing comprehensive support in areas, such as the dividend schedule of your subsidiary in a tax haven country, we could prepare a scheme for avoiding unitary taxation or, if such avoidance is not possible and unitary taxation applies, minimizing your tax burden.

Providing advice on transfer pricing
We can assist you to determine optimum transaction prices when transacting with overseas affiliate, taking into account, among other factors, your company’s size, industry, and transaction details. Furthermore, if we enter into a retainer contract, we could conduct transfer price checks by visiting your office on a monthly basis, for example.

Supporting Japanese expats overseas in filing tax returns in Japan
We provide advice on special tax systems in and outside Japan and support tax return filing in Japan concerning your employees assigned to serve at an overseas subsidiary.

Reviewing workflows

We aim to improve the efficiency of your workflows. Based on interviews with clients on their workflows, we identify tasks that can be omitted or done more efficiently, and then provide advice for improving efficiency. In some cases, it is difficult to conduct drastic operational reform with internal resources only, resulting in failure to implement it properly. We can back up your efforts to efficiently and effectively review your workflows based on various case examples from other companies.

Expediting monthly and annual financial closing processes

We aim to expedite monthly and annual financial closing processes with ease.
We examine workflows for the purpose of expediting monthly and annual financial closing. By conducting interviews with clients on the current workflow, we make recommendations for smoothly implementing work or partially outsourcing work in order to expedite financial closing processes in a practical manner.

Preparing accounting and tax opinions

We prepare accounting and tax opinions so that management decisions can be made based on accounting and tax standards. These accounting and tax opinions will be prepared for our clients to understand accounting and tax issues and examine potential risks in executing complex schemes, thereby supporting management decisions under accounting and tax standards.

Providing second opinions

You can also engage Clifix to provide second opinions. We will assist you in minimizing tax risks, working discreetly so as not to encroaching on responsibilities of your tax accountant on retainer, so that you can make business decisions with further peace of mind and confidence.

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