Profession tax advisor

Tax advisors use their expertise in tax legislation to provide commercially-focused advisory and consultancy services to a wide range of clients from all economic sectors. They explain complicated tax-related legislation to their clients and assist them in ensuring the most efficient and beneficial payment of taxes by devising tax-efficient strategies. They also inform them of fiscal changes and developments and may specialise in tax strategies concerning mergers or multinational reconstruction for business clients, trust and estate taxes for individual clients etc.

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Personality Type

  • Conventional / Enterprising

Knowledge

  • Value-added tax law

    Taxes imposed on the purchase prices of goods and the legislation that governs this activity.

  • Tax legislation

    Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.

Skills

  • Disseminate information on tax legislation

    Provide advise on the possible implications for companies or individuals on decisions regarding tax declaration based on tax legislation. Advise on the favourable tax strategies that could be followed depending on the needs of the client.

  • Manage personal finances

    Identify personal financial objectives and set up a strategy to match this target in seeking support and advice when necessary.

  • Calculate tax

    Calculate the taxes which have to be paid by an individual or organisation, or paid back by a governmental institution, compliant with specific legislation.

  • Sign income tax returns

    Revise, file, and act as a guarantee reference that the income tax returns are in order and according to the governmental requirements.

  • Observe confidentiality

    Observe the set of rules establishing the nondisclosure of information except to another authorised person.

  • Advise on tax planning

    Advise on appropriate strategies to include taxes in the overall financial plan in order to reduce the tax load. Advise on questions related to tax legislation and provide advise on the possible implications that decisions in financial matters can cause in a tax declaration.. Advise on questions concerning things such as the creation of a company, investments, recruitments, or company successions.

  • Prepare financial statements

    Collect, entry, and prepare the set of financial records disclosing the financial position of a company at the end of a certain period or accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

  • Advise on tax policy

    Advise government officials on changes in tax policies and procedures, and the implementation of new policies on a national and local level.

  • Inspect tax returns

    Inspect the documents which declare liability for taxation which is not automatically withheld from wages and salaries to ensure correct taxes are being paid by the liable individuals and organisations.

  • Research taxation procedures

    Research the procedures which regulate taxation activities such as the procedures involved in the calculation of tax for organisations or individuals, the taxation handling and inspection process, and tax returns processes.

  • Inform on fiscal duties

    Inform organisations and individuals on their specific fiscal duties and the legislation and regulations involving fiscal processes, such as tax duties.

  • Prepare tax returns forms

    Totalise all the deductible tax collected during the quarter or fiscal year in order to fill tax return forms and claim it back to the governmental authorities for declaring taxation liability. Keep the documents and records supporting the transaction.

  • Interpret financial statements

    Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

  • Secure sensitive customer's information

    Select and apply security measures and regulations related to sensitive customer information with the aim of protecting their privacy.

  • Inspect taxation documents

    Inspect files and documentation dealing with taxation cases to ensure no faulty or fraudulous activity is present, and to ensure the procedure is compliant with legislation.

Optional knowledge and skills

compile legal documents negotiate in legal cases fraud detection national generally accepted accounting principles make strategic business decisions manage payroll reports collect tax advise on financial matters cadastral taxation international taxation of transfer prices legal department processes advise on legal decisions international financial reporting standards prepare financial auditing reports provide legal advice develop taxation policies accounting entries advise on efficiency improvements use consulting techniques check official documents business management principles civil law conduct financial audits commercial law legal terminology