A tax, and accounting advisor is one who helps entrepreneurs, and companies in their tax, and accounting obligations, as well as others related to the management, and administration of their activity. Are you an advisor or are you looking for one? If you are looking for the best Thailand tax consultants near you, then this content is just for you. In general, a tax advisor works as a freelance, or salaried employee for tax, and accounting advice which should not be confused with an agency.
What does a tax advisor do?
The main function of a tax advisor is to help his clients with their tax obligations. And, it includes the following functions –
- Advice on issues related to the administration and management of the company.
- Advice to entrepreneurs.
- High and low economic activity in the Tax Agency, and Social Security.
- Choice of the legal form to be adopted by a company (Limited Partnership, Public Limited Company, etc.).
- Representation before a court or the Tax Agency in tax proceedings.
- Accounting and billing.
- Payroll and salaries.
- Preparation of balance sheets and accounting reports such as the balance sheet, the opening balance and the closing balance or the income statement.
- Periodic tax returns.
- Account audits.
- Asset and equity planning.
- Advice on the need for a billing program or accounting program.
Responsibility of the tax advisor
A bad service of a tax advisor can have tax, criminal, and civil consequences for the client. This is why it is important to hire the best professional tax advisor who has proven experience.
- Tax liability – He is jointly and severally liable if he actively participates in the task of tax violations.
- Criminal liability – Although, the taxpayer is responsible for a criminal offense, the advisor may be affected if it is demonstrated that his participation has been essential for the commission of the crime.
- Civil liability – A negligent, or defective service may carry responsibilities of the advisor to his client.
When a tax advisor is needed?
In principle, there is no rule or principle that stipulates when a company, self-employed or individual needs a tax advisor. However, it is always advisable to have one for the proper development of an economic activity since its inception. Aspects such as the tax declaration, the most basic accounting, and the payroll management of the workers or the choice of the most appropriate legal form of a company will always be easier to solve if it is with the help of a tax advisor.