Unfortunately, the domestic tax legislation is not stable and unambiguous. A lot of amendments are made to the Tax Code every year, and keeping track of all changes can be difficult. Therefore, even an experienced accountant often requires the advice of an independent expert. However, when choosing one, there is always a chance to run into a charlatan posing as a competent specialist, following the recommendations of which the company can lose time, money and thoroughly spoil its business reputation. Our correspondent tried to figure out how to protect themselves from such prospects.
Sometimes, getting acquainted with the next amendments to the Tax Code, it is very difficult not to fall into a stupor. Not only do you come across formulations that are devoid of logic, but you can also interpret them in different ways. In such a situation, it is quite reasonable to seek the advice of a specialist who has extensive knowledge of both jurisprudence and economics, and has flexible thinking. For the Taxation Return Preparation in Australia this is important.
Puzzle solving
Ideally, it is precisely these qualities that a tax security consultant should possess, since his main task is to minimize the risk of conflicts with tax authorities. The consultant is also responsible for the correct calculation of taxes and their reflection in accounting, and assessing the likelihood of lowering tax payments, planning future transactions, etc.
What you need to know when choosing a lawyer (consultant) to protect your business?
What kind of risks legal advisers will help protect the business, how they differ, what to look for when choosing a lawyer, how to conclude the appropriate contract and pay for the services provided, read here
About ten years ago in the lexicon of businessmen there was such a thing as “optimization”, or tax planning. The bottom line: why pay more if you can legally pay less? The key word in this bunch is "legal." The line between optimization and avoidance, again taking into account the variability of our legislation, is thin enough, and inspectors are eager to erase it at all.
Last Words
A competent tax consultant is able to help the company resolve all issues related to taxation and protect property rights violated by the state. In a word, to make sure that the client company was able, without breaking the law, to manage safely, calmly, develop and realize significant savings without paying too much and avoiding tax assessments and fines. There are a lot of such specialists in Russia, but there are also enough “wizards-half-educated”.
Sometimes, getting acquainted with the next amendments to the Tax Code, it is very difficult not to fall into a stupor. Not only do you come across formulations that are devoid of logic, but you can also interpret them in different ways. In such a situation, it is quite reasonable to seek the advice of a specialist who has extensive knowledge of both jurisprudence and economics, and has flexible thinking. For the Taxation Return Preparation in Australia this is important.
Puzzle solving
Ideally, it is precisely these qualities that a tax security consultant should possess, since his main task is to minimize the risk of conflicts with tax authorities. The consultant is also responsible for the correct calculation of taxes and their reflection in accounting, and assessing the likelihood of lowering tax payments, planning future transactions, etc.
- Often when inspecting tax inspectors find various flaws in the reporting precisely in those companies where there is no close relationship between the legal department and accounting. For example, a lawyer makes an ideal contract, in his opinion, without taking into account some possible additional costs. And when the accountant begins to draw up statements, then a completely different amount comes out, which does not correspond to the clauses of the contract. And in this case, the tax specialist will help establish a dialogue between the two departments. The head will not do without the advice of a financial expert, since one of the main tasks of the latter is to draw up a financial plan in compliance with tax legislation.
What you need to know when choosing a lawyer (consultant) to protect your business?
What kind of risks legal advisers will help protect the business, how they differ, what to look for when choosing a lawyer, how to conclude the appropriate contract and pay for the services provided, read here
About ten years ago in the lexicon of businessmen there was such a thing as “optimization”, or tax planning. The bottom line: why pay more if you can legally pay less? The key word in this bunch is "legal." The line between optimization and avoidance, again taking into account the variability of our legislation, is thin enough, and inspectors are eager to erase it at all.
Last Words
A competent tax consultant is able to help the company resolve all issues related to taxation and protect property rights violated by the state. In a word, to make sure that the client company was able, without breaking the law, to manage safely, calmly, develop and realize significant savings without paying too much and avoiding tax assessments and fines. There are a lot of such specialists in Russia, but there are also enough “wizards-half-educated”.
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