Life Science Services

CAPABILITIES

Outsourcing Services

Making your Tax Savings

Great Again

Life Sciences Services supports finance and human resources leaders to improve performance and securing compliance processes across European jurisdictions.

We offer highly qualified services with low financial exposure and risks that enable leaders to focus on the core business of the company.

Transfer Pricing Policies

Transfer pricing policies pose a significant concern for biotech and pharma companies that operate in multiple countries. The main challenge lies in determining the fair market value of goods and services transferred between related entities. European countries have strict regulations in place, and non-compliance can result in substantial penalties.

Navigating VAT Challenges

Value-Added Tax (VAT) can be a significant challenge for biotech startups shipping investigational medicinal products. The complex supply chains involved in these shipments often cross multiple borders, making it difficult to determine the applicable VAT rate at each stage of production and distribution.

Withholding Tax Considerations

Withholding tax is often overlooked but can be very complex. It is levied on income earned by non-residents, such as interests, dividends, and royalties. Biotech and pharma startups transferring technologies, future rights, or royalties across borders may be subject to withholding tax.

Understanding the withholding tax regulations in each country where the transfer takes place is crucial to avoid double taxation. In some cases, it may be possible to reduce or eliminate withholding tax through the use of tax treaties or other agreements between countries.

Life Science Services experts are well-versed in navigating the complex regulations surrounding withholding tax and help leaders of biotechnology and pharmaceutical companies to ensure compliance with applicable laws.

Our tax experts support leaders of US Biotechnology and Pharmaceutical startups understanding tax implications in Europe: addressing the current and future challenges in transfer pricing policies and indirect taxes such as VAT and withholding taxes.

Intellectual property (IP) is a valuable asset for biotech startups, but it also presents tax challenges. In Europe, income generated from IP is often taxed at a lower rate compared to other types of income. However, there are complex regulations surrounding IP ownership and transfer, which can create uncertainty for biotech startups.

Life Science Services tax experts support leaders of US Biotechnology and Pharmaceutical startups navigating Intellectual Property protection strategies in Europe.

It is critical for companies to start with the right foot and accounting & finance.

However, in the early days, it is not seen as a priority to implement the right level of controls and procedures for purchasing, travel and entertainment and Assets under Construction (AuC) for tangible and intangible assets and cash management.

It results in unnecessary costs later in valuation of the molecules and the company and lots of time consumed in GAAP conversions.

Life Sciences Services partners with SAP to offer an ERP that enable companies to enjoy all this features within a few clics. Research and development costs can be captured in multiple GAAPs, such as USGAAP, IFRS and local standards, and deliver different reports for management reporting, statutory filings, and tax books.

Flexible and scalable, our system allows biotechnology and pharmaceutical companies to implement industry best practices at a competitive cost.

Life Sciences Services is partner with leading SaaS companies in the life sciences industry, particularly in lab management and GxP validation, and we have developed specific applications that can be easily integrated in a “click not code” concept.

Life Science Services supports HR leaders of US biotechs and pharmas setup a global workforce in HR and Payroll best practices.

Efficient and secure, our systems allow to adapt to different regulations and jurisdictions.

Because for your employees, being paid on time and accurately is important, payroll is integrated in the SAP ERP and enables fast, secure and confidential payment of salaries, while ensuring accounting entries simultaneously.

For the HR leaders, we provide operational controls via payroll and labour costs specific dashboards.

Finally, it easily integrates with 3rd party payroll solutions internationally.

Life Science Services experts support HR Leaders of US biotechnology and pharmaceutical companies setting up international HR and payroll delivery.

One of the many challenges when going global is to remain compliant in the country of origin where the parent is established, as well as in the countries where subsidiaries are operating.

In many cases, it’s cumbersome Excel file, implying low value added, resource intensive process, not to mention the high audit costs, to convert local accounting to GAAP, consolidate and, foreign currency revaluation.

Life Sciences Services SAP ERP is a guaranty to have the industry best practices and controls at all times.

Our system is setup in three GAAPs (local, USGAAP and IFRS) and is multi-currency. With no efforts, finance leaders can generate dashboards and reports in different GAAPs as well as consolidated financials.

Thanks to audit trail and approvals, internal controls have never been so easy, and so fast!

Our tax experts can help your company navigate the complex regulations surrounding withholding tax and ensure compliance with applicable laws.