GENERAL TERMS & CONDITIONS
These General Terms and Conditions are applicable to all Engagements.
We shall perform the Engagement with due observance of the applicable professional rules and regulations and national and international legislation and regulations.
Any necessary out of scope services will be performed for additional fee upon prior discussion with you.
Inception of the Engagement
The Engagement shall take effect as soon as we have received the written agreement regarding the engagement duly signed by you and us.
You must provide us with all information and documentation required in order to comply with our obligations.
Should we require your cooperation, you shall provide us with all information and documents on a timely basis that we need for proper performance of the Engagement.
You shall bear the responsibility for determining the scope of our service.
We shall perform the Engagement on the basis of the financial and other information provided to us in respect of the Engagement, including any meetings that we hold with you or, at your request, with third parties. You undertake to ensure that the information you provide is correct and complete. You hereby agree that if we receive information from third parties in respect of the Engagement, we can assume, that this information id correct and complete.
You are liable for any additional costs caused by a delay in the performance of the Engagement resulting from failure to make the requested information available to us on time.
Execution of the Engagement
We will provide our service to the best of our knowledge and ability, and in accordance with professional standards. We shall be bound by a best-efforts obligation in relation to our service.
We shall determine the manner in which the Engagement will be executed and by whom.
We may provide, and charge you for, any additional services if the need for such services arises by any national or international legislations, applying to the Engagement.
Your information provided to us by you, shall be returned to you, at your request, after completion of the Engagement. We shall keep our own (electronic) working files on the Engagement, containing copies of in our opinion relevant documents.
Confidentiality and Data Protection
We and the person(s) assigned by us shall neither disclose confidential information and personal data nor provide such information to third parties, other than those referred to in this article unless we are required under any provision in the applicable national or international legislation and regulations, including professional rules and regulations, to disclose information, or we or persons affiliated with or working for us act in any disciplinary, civil, administrative or criminal proceedings in which this information may be of importance.
To support our business operations your data will be stored in Switzerland on a self-owned and managed infrastructure.
For the purposes described in this article 5, we may transmit personal data to countries outside of the European Economic Area (EEA) if the recipient is deemed to offer a sufficient level of protection on the basis of the GDPR.
We shall take appropriate measures in order to protect the confidential information and personal data and shall inform any third parties and employees that we engage of the confidential nature of the information.
We shall process personal data in accordance with the applicable national or international legislation and regulations, including professional rules and regulations, in the field of protection of personal data.
You shall not disclose, or provide to third parties, any information concerning the Engagement, the content of reports, opinions or any other written or oral statements issued by us, except where any national or international legislations or regulations, require you to disclose information or except where we have given our prior written consent.
Your documents will be stored only in digital form. We do not archive the hard copies of your documents.
If you are required to make an advance payment or to make information and/or materials available that is/are required for execution of the Engagement, the term for completing the service will not start until we have received the payment in full or until all information and/or documents have been made available to us respectively.
The due dates for completion of the service shall be regarded as strict deadlines only if this has been agreed in writing in advance.
Unless execution of the Engagement proves to be permanently impossible, you shall not terminate the Engagement on account of us failing to meet a deadline, unless we do not perform the Engagement, either partially or in full, within a reasonable period of which we have been notified in writing after expiry of the agreed delivery period.
We shall provide our service to the best of our ability and exercise the due care that may be expected of us. If errors are made as a result of the provision to us of incomplete information by you or a third party, we shall not be liable for any resulting penalties.
Our total liability to you for any errors that would have been prevented if we had exercised due care, is limited to a maximum of three times the fee paid and/or owed by you for the specific services provided under the Engagement from which the errors resulted.
The Internal Revenue Code provides for penalties in some circumstances when taxpayers undertake their tax liability. For example, if a position with respect to an item on your return does not have the appropriate support in the tax law and other authorities. A penalty of 20% of the understated tax could be asserted against you.
In our role as preparer of your tax return, we are not obliged to prepare a declaration that in our view lacks the appropriate support.
The Internal Revenue Service has been delegated authority to assess FBAR civil penalties. The civil penalties for failure to file a declaration are
In non-willful, up to USD 10’000 per incident and
If willful, up to the greater amount of USD 100’000 or 50% of the balance in the account(s).
The IRS might impose penalties if the FBAR is submitted after the June 30 deadline for the current year’s FBAR. The Tax Practice GmbH promise no warranty or representation, express or implied, nor do we accept any liability with respect to the information and data set forth herein.
Failure to comply with the filing requirements may result in significant civil and criminal penalties. Your filing may be selected for review by the tax authorities.
Early Termination of the Engagement
Either party has the right to terminate the Engagement in writing, with due observance of a reasonable notice period.
If you decide to terminate the Engagement early, we shall be entitled to compensation for services already provided and for any costs that we reasonably have to incur as a result of the early termination of the Engagement, unless the termination was motivated by facts and circumstances that can be attributed to us.
If we terminate the Engagement early, you are entitled to our assistance in transferring work to third parties, unless the termination was motivated by facts and circumstances that can be attributed to you.