How a Tax Advisor Helps an Organization to Save Business Money - CDA Tax Advice (2024)

Before analyzing the role of a tax consultant let us examine who is a tax consultant, and what does he do for a firm? A tax consultant is a person who looks after all the business transactions regarding the payment of tax and tries to minimize those payments abiding by the laws and regulations. He must have thorough knowledge about the tax laws prevailing in the province where he is providing his service, for instance, if he renders his tax consultancy service in UAE, he might have perfect knowledge about those tax systems that exist in UAE. He has been constantly revising even the minute changes in taxation policies of the country and studying the tax issues faced by the company. When India adopted GST for the first time, there arose a lot of chaos among the business enterprises regarding what to pay, how to pay, when to pay, and to whom to pay? Here, a well professionalized and experienced tax consultant can assist his organization and clients by providing them with the required advice and calculation in order to face those issues.

Since there are variations in the implementation of taxation, the role of a tax auditor is very vital. A well proficient tax advisor always tries to communicate with his clients with respect to the influence of changes in tax law and payment of tax. Moreover, he always makes an effort to foresee the future of his clients by evaluating the tax returns and payments and makes sure that there is no tax evasion. Guiding them at the time of framing plans and policies of the organizations to reduce the tax liabilities by advising them to choose an appropriate tax payment method, the responsibility of the tax consultant is appreciable.

What changes does the tax consultant bring to the firm?

The tax consultant is one of the core parts of any organization who assists to bring out the revenue policies of the tax authorities and safeguard the lapses of the firm concerning the taxes. A firm faces severe problems if they don’t consult a tax advisor before the payment of taxes, such as VAT, input tax, output tax etc. in UAE. If a firm performs its accounting without consultation, it may result in over-discharge of money and bring financial fluctuations.

Also read, Importance of Tax Audit And Its Effect On Business

Whereas a firm with a reputed tax auditor can tackle these kinds of issues more efficiently and scientifically as he has better knowledge and experience in handling the tax laws and the variations in VAT i.e. tax policies in UAE. He always analyses the tax records and makes sure that the remittance of tax is timely made to avoid further fines. He must also make sure that the client is registered under the UAE VAT law recognized by the government.

How can a firm select a suitable tax consultant?

A firm must choose its tax consultant by evaluating the needs of the firm and making him realize it. He must be provided with required authority and accurate details of the firm to carry out his work i.e. analyzing the tax payments and returns. Correspondingly, the consultant should work efficiently and effectively according to the company's requirement. Also, he must bring suitable changes in the taxation methods that may improve the financial position. He must be well aware of the changes in VAT policies and also find remedies for overcoming the changes. His works would be completed within the allotted time. A tax advisor must be able to provide a personalized service to his clients by studying them and knowing their needs without even asking them and having a good relationship, focusing on the growth of the business. Suppose a tax advisor deals with more than one client, he should effectively manage them and provide sufficient time to each one of them in solving their tax issues.

CDA as a tax consultant

CDA Accounting and Bookkeeping Services LLC is a well-organized tax consultant in UAE that scientifically deals with its clients in a trustworthy manner and tries to eliminate the risk, cost and penalty. The company has well trained and experienced professionals who handle the tax issues in a meticulous way and diagnose every threat to terminate it. They also assure that their client is registered under the VAT in UAE. Furthermore, the company frequently supervises the records of their clients, the policies to make changes as per the VAT law. The main intention of the company is to provide a personalized service to its clients with a professionalized and well-experienced team.

You may also read, How Approved Auditors Perform a Tax Audit in UAE

Let us wrap up with an appreciation of the effort put by a tax advisor to fulfil the needs of his clients in the best way and relieving the top-level management from the stress and burden related to the discharge of tax and maintaining the records. This dedication will result in the probability of increasing the profit of the firm which will endeavour in the future. In fact, CDA as a reputed tax advisor is always ready to render its services sincerely and overwhelmingly.