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Commercial real estate

For years we have specialized in providing accounting and tax support to the commercial real estate sector. We cooperate with nearly all the key investment funds and operators.

We provide each client with a dedicated team of accountants and tax advisers – experienced experts who know the real estate industry from the ground up.

Our services are designed in particular for entities operating in such sectors as:

Thanks to vast experience providing accounting and tax support to investors in office properties, we perfectly understand their needs. We realize the importance of issues like cooperation with property managers, group reporting, and efficient tax settlements. We provide each client with a team dedicated to serving their needs.

  • Reporting – drafting reports in the required format.
    • Reports with a precise breakdown of costs passed on to tenants and those charged as a cost to the owner.
    • Preparing consolidated reports showing data for a portfolio of properties.
  • VAT support – preparing VAT declarations and obtaining VAT refunds as quickly as possible.
  • Real estate tax declarations.
  • Corporate income tax calculations.
  • Support for statutory audits and group packages.
  • Assistance in complying with borrowers’ covenants and releasing loan funds – we forecast and evaluate the potential risks, negotiate and draft the necessary documents meeting the requirements of credit agreements.
  • Ongoing tax advice and proposals for tax optimization – we propose and work out concrete solutions minimizing or eliminating risks and maximizing financial benefits.
  • Verification of the correct extent of security deposits paid in by tenants against the balances in dedicated bank accounts.
  • Settlement of real estate development accounts, including optimization of disclosed assets and allocation of overheads.
  • Preparing data for payments.
  • Preparing cash-flow reports.
  • Reporting for the Central Statistical Office and the National Bank of Poland.
  • Preparing declarations and notifications on tax withholding at the source.

We assist clients as they work through the entire development process, from acquiring the land through the construction and sale of completed units. We are one of the few accounting and tax firms offering full knowhow and tested solutions, enabling us to provide support for residential developers meeting the highest standards.

Apart from standard accounting and tax services we offer:

  • Preparation of real estate tax declarations.
  • Proper allocation of financing costs connected with project completion.
  • Full VAT and CIT service – preparing declarations, obtaining VAT refunds.
  • Reports and schedules tailored to the client’s individual needs – we prepare extensive sets of reports complying with GAAP guidelines and the investor’s requirements, and other presentations such as budgets, cash-flow statements and accounting policies.
  • Financial reports complying with the Polish Accounting Act and IFRS.
  • Assistance in complying with borrowers’ covenants and releasing loan funds – we forecast and evaluate the potential risks, negotiate and draft the necessary documents meeting the requirements of credit agreements.
  • Preparation of project settlements in order to calculate the costs of products sold, e.g. apartments, parking spaces and other units.

The success of a shopping centre is the product of numerous factors. Owners and tenants, investment funds and property managers operating on the commercial real estate market must take numerous strategic decisions every day that determine the success or failure of the project.

For years we have specialized in providing professional accounting and tax support for shopping centres. With this experience, our offer of comprehensive support for accounting, tax, legal, and administration of bank accounts and payments has been enriched with elements of particular value to clients from this industry.

  • Advice on expedited VAT refunds when acquiring real estate – quick and comprehensive procedure.
  • Tax optimization – we propose and develop concrete solutions for minimizing or eliminating risks and maximizing financial benefits.
  • Due diligence – we provide full support in analyzing firms’ financial and tax situation.
  • Real estate tax advice – we seek tax savings and identify potential risks related to undisclosed structures subject to real estate tax.
  • Reports and schedules tailored to the client’s individual needs – we prepare extensive sets of reports complying with GAAP guidelines and the investor’s requirements, and other presentations such as budgets, cash-flow statements and accounting policies.
  • Detailed information on financial results of companies in the group such as rent collection reports showing the differences between budgeted income and actual receipts.
  • Financial reports prepared in accordance with the Polish Accounting Act or IFRS as well as proxies and resolutions approving financial reports, and filing of documents with the tax office and registry court.
  • Assistance in complying with borrowers’ covenants and releasing loan funds – we forecast and evaluate the potential risks, negotiate and draft the necessary documents meeting the requirements of credit agreements.
  • Statutory audits and group packages.
  • Support for specific transactions, such as debt to equity conversion, assignment of loans, corporate mergers and liquidations, asset deals, share deals.
  • Preparing declarations and notifications on tax withholding at the source.
  • Support or assumption of obligations to issue sales invoices to tenants for the owner or property manager.
  • Tax audits – we verify tax results, and identify and eliminate tax risks by implementing appropriate legal solutions
  • Advice on the tax consequences of exiting an investment or selling the project.
  • Analysis of leases for potential tax risks connected with settlement of tenant incentives.
  • Advice on VAT rates for utilities reinvoiced under leases.
  • Preparing transfer pricing documentation (intra-group loans and services).
  • Tax-law analysis of leases and contracts for operation of commercial buildings, including tax issues concerning marketing events for tenants and customers.

Logistics parks capture the specifics of a number of industries, which is why accounting and tax support for them requires a skilful combination of expert knowledge of real estate, warehousing, distribution and transport.

With many years of experience serving logistics parks, we have gained the unique knowhow needed to provide services of the highest standard. We offer clients a dedicated, full-service team of experts on accounting, tax and law.

Extensive range of accounting and tax services

  • Settlement of multi-phase development projects in cooperation with the construction supervisor.
  • Preparing balance sheets and other documents needed to obtain bank financing, and settlement of credit.
  • Cooperation with property managers – negotiating SCR costs and owner’s costs
  • Preparing and supervising all payments, including operating fees.

Access to necessary functions of the finance and accounting system

  • Possibility for standalone issuance of rent invoices in the accounting system with automatic generation of invoice lists by property managers.
  • Overview of transactions in the accounting system and standalone generation of reports.
  • Possibility of adapting facilities in the system, e.g. maintaining a highly detailed cost centre.

And moreover

  • Closing the books on the date selected in consultation with the client.
  • Preparing VAT declarations and obtaining VAT refunds as quickly as possible.
  • Additional verification of tax calculations by the tax department.
  • Applying for certificates on lack of tax arrears.
  • Implementing plans for accounts applied across the client’s entire group.
  • Preparing documents, information and calculations needed for due diligence.

Anita Supel

Accounting Director

T: (+48) 22 262 81 51
@: a.supel@krgroup.pl

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Tax advisory services

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VAT Compliance & Fiscal Representation services

Anita Supel

Accounting Director

T: (+48) 22 262 81 51
@: a.supel@krgroup.pl

KR Group

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