Simplifying Your Tax Experience
Tax Risk Assessment Services
Understanding Tax Risks. Strengthening Compliance. Protecting Your Business.
At Babylon Tax Consulting, we believe that proactive tax risk management is the key to sustainable business success.
Our Tax Risk Assessment Services help companies identify, evaluate, and minimize potential tax exposures before they escalate into disputes or penalties.
We combine deep knowledge of Iraqi and UAE tax regulations with international best practices to provide a clear picture of your organization’s tax position and its associated risks.
Our Tax Risk Assessment Approach
1. Comprehensive Review of Tax Positions
We conduct a detailed evaluation of your tax filings, accounting records, and contractual obligations to identify areas of non-compliance or exposure under Iraqi General Commission for Taxes (GCT) regulations and other relevant authorities.
2. Compliance and Control Evaluation
Our team assesses your internal tax processes, control systems, and reporting mechanisms to ensure full compliance with local laws, double-taxation treaties, and accounting standards (IFRS).
3. Exposure and Impact Analysis
We analyze potential tax risks associated with your operations — including corporate income tax, withholding tax, personal income tax, and social security contributions.
Each risk is quantified and categorized based on likelihood and financial impact, providing clear visibility for management.
4. Tailored Risk Mitigation Strategies
Babylon develops targeted solutions to minimize exposure — from process improvements and documentation enhancements to restructuring tax positions and preparing for potential audits.
Why Choose Babylon Tax Consulting
- In-depth Expertise: Extensive experience advising multinational and local entities in high-risk sectors such as oil & gas, telecom, media, and construction.
- Regulatory Insight: Direct engagement with the General Commission for Taxes (GCT) and Social Security authorities in Iraq.
- Cross-Border Knowledge: Understanding of UAE tax environment, double-tax agreements, and compliance implications for foreign entities.
- Strategic Value: We don’t just identify risks — we help you turn them into opportunities for stronger governance and transparency.
Deliverables
Our Tax Risk Assessment report includes:
- Executive summary of key findings
- Detailed risk matrix and exposure analysis
- Recommendations and action plan
- Compliance checklist for tax and audit readiness
Partner with Babylon Tax Consulting
Safeguard your organization against tax uncertainty with Babylon’s trusted expertise.
We help you anticipate risks, strengthen internal controls, and build a foundation of compliance and confidence.