Tax consulting for companies from the chemical and pharmaceutical industry
We assist companies from the chemical industry in their tax matters. In particular, we specialize in tax consultation for sales / distribution companies for chemical raw materials, pharmaceutical companies, manufacturers of generic medicines, manufacturers of hairdressing supplies and lubricant manufacturers. These companies make a lot of money and their business performance depends on the accuracy and speed of the information. We are in our element here with regard to taxation.
International experience in the chemical and pharmaceutical sectors: for decades
Benefitax GmbH has comprehensive experience in the chemical and pharmaceutical industry from across the world. Since 1991, his first year in this profession, our Managing Director Mr. Biernat was engaged in audit assignments of large companies from the chemical industry most of which were listed on the stock exchange. Later, he was working as an audit manager and then as a chartered accountant in-charge of audit and consulting for notable chemical and pharmaceutical companies across Germany. He was responsible for the audits of annual financial statements of many German subsidiaries of a pharmaceutical company listed on the stock exchange with 500 subsidiaries across the world at the time. The company is now part of a US-group. He was the responsible chartered accountant for several years for a manufacturer of generic medicine listed on the M-DAX. In this role, he also monitored the audit of foreign subsidiaries and was responsible for performing special assignments such as the adoption of IFRS accounting principles or an increase of the nominal share capital amounting to several hundred million Euros.
Long-term customers in pharmaceutical and chemical sectors
Thanks to numerous contacts, we received many new engagements of smaller chemical and pharmaceutical companies who were looking for assistance in preparation of the bookkeeping, compliance and consultation. These companies mainly represent prior subsidiaries of the audited groups. Despite frequent changes due to mergers, separations and change of shareholders, many of these companies have been our loyal clients for more than 10 years. Benefitax thus has relations to pharmaceutical companies of all sizes. Foreign groups interested in acquiring German companies from the pharmaceutical and chemical industry engage us to perform due diligence work on the target companies in Germany. We provide a comprehensive range of services in the area of compliance, tax consulting, business consultation, M&A and audit.
Our services for the chemical and pharmaceutical industry
- Preparation of financial accounting and payroll accounting
- Preparation and audit of annual financial statements
- Advice on the preparation or improvement of risk management systems and compliance systems
- Optimization of the production process with respect to cross border taxation
- Transfer pricing and Transfer pricing documentation
- VAT related consultation for cross border services
- Support in M&A transactions (esp. due diligence, company valuation)
- Treatment of license agreements in respect to tax and commercial law
The chemistry between client and advisor must be right
Chemistry is your sector, but the right chemistry with our clients is very important for us. We make sure when hiring new employees that they are friendly, have good knowledge of German and English and also keep cool even in stressful circumstances. It is not only important for us to ensure that you comply with all tax and commercial law obligations in due time, but to be able to advise you quickly and in a straightforward manner in case of questions or problems. Our employees get a briefing before they start working for a new client. They therefore already know the important facts regarding your assignment and they can advise you better and faster. If desired, we can also briefly and concisely respond to e-mails in shorthand style. Being amicable on phone and e-mails comes naturally to us. We work mainly with clients, who have a similar view on that and appreciate it. Last but not the least, we spend a large part of our time at the workplace. Thus, our credo is that working and interacting with clients should be a pleasant experience. The chemistry must be just right …