The situation in our economy is not great. You need to plan each income, each cost for the company to survive in the period of economic crisis. We must also plan our obligations towards the government, because the date of zero tax tolerance is getting near. Then, all individuals and companies will have to settle their obligations in time. If this does not happen, they will be blocked and will not be able to operate.
Bookkeeping agencies, at least serious ones, have introduced tax consulting in their portfolio of services (products) for individuals and companies. They help in creating strategy for taxes in our business. If we have a strategy we will reduce risk related to tax violations. You need a serious approach to tax obligations and its optimization in order to reduce the amount given to the government. The goal is this is the release of funds and their investment into new business opportunities.
Tax consulting has many levels. First level is client training and informing on the law. Advice given on this level is related primarily to the law and latest accounting standards that are linked to taxes. The client may be informed on all types of taxes it is expected to pay. For every company, some of the mandatory taxes are VAT and employee wage tax. What is the most important to many clients are tax penalties and offenses. Usually the consulting is required when the law is broken and the client needs to pay a large fee. It is better to get informed upfront and not drive yourself to such a situation where such violation leads to the court. In this case also, agencies provide assistance, when the case reaches first or second level proceedings. Detailed analysis for managers and planning costs is what separates successful companies from excellent ones. It is very important to have a clear image on the costs ahead to draw smart business moves based on them.