Reduced property tax with proper Inventory and Valuation

Movable property Valuation and Inventory is the prerequisite for determining the actual quantity and value of the property owned by the company. The valuation report in future is the subsequent basis for informed decisions in transactions, financial statements and other tax issues.

According to the law, legal persons and institutions are obliged to maintain proper accounting of fixed assets, implying the inspection of actual existence of their property for a specific period of time and mainly is used for ensuring the reliability of accounting and reporting. In such case, the company is interested to carry out the inventory and evaluation of movable property in the shortest possible time and at lower costs. At first sight, the companies find out the easiest way to allocate the employees specifically for the mentioned activities but they do not achieve the desired goal through such delegation and instead of saved time and resources, for ascertaining the actual situation they have to double costs.

Conduction of inventory and movable property valuation through the resources owned by the Company is followed by number of challenges. One of the most important challenges is the heterogeneous approach of employees involved in process. Mentioned problem is especially evident with regard to network organizations when the inventory of many different locations and items is required. In addition, due to limited work resources, in many cases the companies find it difficult to allocate the proper number of employees, materials and resources for inventory procedures thus disabled to get the desired results.

In such cases, hiring of outsourcing company is the most valuable and decent alternative. Outsource company is not interested in presenting the actual situation in an altered form; while the inventory carried out by the employees of the company itself bears a risk of improper reflection of losses and surpluses and/or condition of the property. Outsourcing company has the flexibility for management of inventory process, as the work specifics, working hours, peak periods, flows of fixed assets and resources of the client is foreseen by the service. By virtue of such approach, activity becomes flexible to the maximum extent, creating an additional comfort for client.

Colliers is involved in valuation and inventory of movable property for years. Movable property valuation process is carried out in Colliers in accordance with international standards, whereas the inventory methodology is planned based on working specificity of client company. Mentioned two services may be provided separately, as well as the Valuation and Inventory units work together, thus significantly simplifying the processes. Colliers valuation team is staffed by qualified experts having working experience in inventory and movable property valuation projects for companies operating in many different industries. Within the frameworks of the specific project, the Company is staffing the inventory groups in order to complete project in shortest possible time and if necessary, to make an inventory of several different locations. Prior to initiation of inventory, the project team is trained accordingly, where the working specificity and methodology agreed beforehand with client are introduced. Most importantly – there is a manager designated for each inventory project, responsible for both the progress and quality of the project, as well as for unified approach of several groups and communication with the client.

Since entering the Georgian market, the Valuation and Inventory of movable property are listed in Colliers services. As the results of planning of large projects and successful fulfilment in limited times Colliers has obtained important clients: Ajara Group, Bank of Georgia, Georgian Leasing Company, LLC Tourinvest, Chiaturmanganese, LLC Chirina (Biu Biu), Grand Casino Ajara, JSC M2, GULF, hotel Biltmore and other major market players.

It also should be noted that Colliers operates in 68 countries of the world and if necessary, qualified expert in a specific field can be found from the World Colliers Network, which is an important addition to projects and a guarantee of quality for service.

georgia@colliers.ge | +995 593 114 600 | Colliers.com

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