 
Learn to lawfully live with
Tax Payment
 A
country or city has to provide an environment and infrastructures
to support business for which taxes, duties, dues are levied
on income sources. As the world develops and knowledge advances,
more sophisticated tax systems are put in place by the taxation
authority to raise revenue to pay for the facilities government
will provide. A Certified Public Accountant acting as clients’
tax representative will prepare tax computation and returns
required by the tax department. The correct preparation
of tax returns will require thorough understanding of tax
regulations and practices. As tax officers are not ordinarily
involved in business, they will not have the same understanding
on business transactions as the tax payer himself. It therefore
happens often that a tax submission will call for lengthy
enquires obliging the tax payer to answer.
A Certified Public Accountant will stand by the client
throughout the process and contribute immensely to clear
the doubtful minds on the opposite side of the fence so
that tax computation are accepted by tax department and
the citizen’s duty discharged by subsequent payment
of a correct amount of tax.
Avoid Excessive Tax and Minimize
Tax Liabilities Legally
Pay Tax – But Not More, Not Less
Many clients approach their auditors who are expected
to be proficient with tax matters and most importantly,
they can help clients to avoid excessive tax and minimize
tax liability legally. To this end, a Certified Public Accountant
with a strong background of experience, good knowledge of
commercial, corporate and tax laws will help much in tax
planning. He also is in a position to offer advice to companies
and individuals to minimize their tax liabilities legally,
and in some cases also globally.
A Variety of Tax Services
Apart from the abovementioned services, a Certified Public
Accountant will profess himself to deal with the followings:
- Estate duty and stamp duty planning;
- assistance in handling IRD enquiries, tax field audits,
tax investigation and appeals;
- preparation and filing of Employer’s Returns
on employees remuneration and Tax Returns for individuals;
- preparation and filing of Property Tax Returns;
- preparation of Personal Assessment Returns.
How to Compute Taxable Profits
Taxation is a significant charge to profits and losses
accounts. Taxation representatives who are auditors themselves
will assist clients to compute their profits or losses,
according to the tax regulations of a country where income
from businesses will arise. The ascertainment of assessable
profits does not necessarily based entirely on prevalent
accounting practices. The assessable profits so computed
with reference to tax regulations will be the basis to arrive
at an amount of tax payable to government.
In this process, the tax representatives conversant with
tax regulations will be able to advise the client how his
audited profits be adjusted according to tax regulations
for submission every fiscal year. In normal circumstance,
some queries will be asked by government tax officers soon
after the submission. This will be aptly handled by a tax
representative who write to help the officer to understand
the basis of the computed assessable profits to enable them
to reach agreement.
This process should be handled with good knowledge of tax
regulations and experience. In case of the tax officer disputing
the computed assessable profits, the tax representatives
will lodge adequate arguments and justifications to assist
the tax officer to come to agreement and settle the client’s
case.
With the experience drawn from a wide variety of tax investigation
cases, a tax representative entrusted with the above process
will be able to pursue an amicable and affordable solution.
Other Services:
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