In general, a tax advisor is a professional whose job is to advise the company on tax matters. Its main objective is to ensure that the client complies with current regulations. And with the requirements of the Tax Agency or Treasury. But what are the functions of Thailand tax consultants? Its main function is to ensure that the client complies with the tax law and optimize its tax burden.
Based on this, the services of a tax advice could be summarized as follows –
- Planning and tax advice.
- Filing of VAT, Personal Income Tax or Corporation Tax.
- Customer advice to optimize the tax burden.
- Assistance in user / company relations with the Treasury.
- Analyze the tax legal framework to offer solutions to specific cases.
- Inform about news in the law, opportunities in tax aid, etc.
- Help with international taxation and customs duties
Main functions of a tax advice
If you think that a tax advice is only valuable to know how much you should contribute to the Treasury or how much you can deduct for various concepts – you are wrong. Other of its functions are –
- Advice and study of new businesses – The fiscal aspect helps us to evaluate financing alternatives, corporate contributions, profitability, etc.
- Restructuring advice – If a company has entered a restructuring phase, tax advice will guide you through the process of capital contributions, holding companies, merger planning, ruptures, securities exchange operations, etc.
- Representation before courts – When there are conflicts with official entities, the tax consultant appoints one or more experts to represent us before them.
- Valuation of the financial status – Tax advice provides us with a diagnosis of the state of the companies.
- Advice from international societies – Tax advice is a resource that helps us to know existing conventions, laws or treaties at the regional or global level.
Is it important to hire a specialist?
Every company is obliged to make periodic declarations to the Treasury, or to those bodies responsible for regulating its assets in accordance with current law. As some of them do not have specialists in the field, it is customary to resort to the tax advice service provided by a third party. The tax advice is primarily an orientation provided to organizations on issues of taxes, inspections, depreciation, accounting applications, calculating quotas, deductions, ups and downs, etc.
When choosing a tax advisor, factors such as training, experience, reputation, personal treatment, services or rates must be taken into account.