Although from a layman's perspective it may seem that both an accountant and a tax advisor deal with exactly the same thing, they are two different professions. A tax advisor has the same powers as a licensed accountant, but their scope is broader. What lies within the duties of these professions? How is a tax advisor different from an accountant? As an entrepreneur, do you need both?
Although from a layman's perspective it may seem that both an accountant and a tax advisor deal with exactly the same thing, they are two different professions. A tax advisor has the same powers as a licensed accountant, but their scope is broader. What lies within the duties of these professions? How is a tax advisor different from an accountant? As an entrepreneur, do you need both?
Who is an accountant and what are his duties?
An accountant is primarily engaged in conducting extensive accounting. In your company, he will be responsible for maintaining accounting books, tax books, records and other required registers, as well as cataloging documents. In addition, the accountant prepares tax returns and declarations. His activity is more practical and focused on ensuring the proper circulation of documents and financial liquidity.
Until 2014, this profession was subject to certification by the Ministry of Finance, but as part of the facilitation of access to the practice of certain regulated professions, this requirement was abolished. Thus, quite a few companies offering services in this field have appeared on the market. The profession itself requires certain personality predispositions, skills, knowledge of accounting and finance and a willingness to constantly expand it.
What does a tax advisor do?
A tax advisor has the same authority as an accountant, so he can deal with the duties that in companies are most often assigned to this professional group. However, what distinguishes him from an accountant is a more specialized knowledge of the law. It is a free profession of public trust regulated by the relevant law.
The tax advisor is primarily responsible for advising and organizing. In practice, this means that he should prepare guidance for you on which taxes you should pay, as well as what you should do to legally reduce the mandatory ones.
The main differences between an accountant and a tax advisor
An accountant and a tax advisor have similar powers, but they focus on different areas of accounting. Both can accept accounting documents, verify their accuracy, prepare returns, but it is the tax advisor who has the authority to explain the intricacies of tax law, analyze the regulations that govern the tasks performed by accountants. An accountant and a tax advisor are also distinguished by the requirements for candidates for both professions.
It would seem that the ideal solution for a company would be to hire both an accountant and a tax consultant. However, in fact, this is not always necessary. In the case of small companies or JDGs, it will be sufficient to establish cooperation with experts or companies (such as accounting or tax consulting offices) competent in these areas. And to support this cooperation with appropriate tools to facilitate daily communication, workflow or billing.
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