A taxpayer, such as an individual, a partnership, a company, a trust, etc., who has a complex financial situation (e.g. complex investments and deductions), may seek the expertise of a tax advisor to help reduce the amount of taxes to be paid to tax authorities.
The advice and services provided by the tax advisor will vary depending on the situation of the taxpayer. Individual retirement planning will receive different advice from an entrepreneur looking to set up a shop. Likewise, a real estate investor is likely to have a different tax requirement than a commodity trader.
The relationships between a tax consultant and a corporation pursuing the merger or acquisition of another company can vary in relation to a real estate executor seeking to reduce property taxes.
As tax advisors have a good understanding of tax law and the IRS guidelines, businesses can retain services in order for taxation issues to be resolved by representing business before tax authorities and the courts. Tax advisors understand tax laws and are also necessary to guide taxpayers in compliance with federal, state, and local tax laws. Professional advisors must keep up to date with the new federal and state fiscal standards in order to provide advice on current tax issues effectively.
Tax advisors may function for or be self-employed by an agency. Either way, they are focused on finding effective methods for clients to legally reduce tax liability, calculate taxes on various investment portfolios, and find the right deductions and credits to be applied, etc. They may also prepare and file tax returns for their clients.
A taxpayer who has experienced a major life event, such as the death of a spouse, marriage, divorce, birth or adoption of a child, buying of a new home, loss of work, inheritance, and more, would be intelligent enough to hire a tax advisor.
Tax advisors and preparers are supervised by the Internal Revenue Service, but not approved (IRS). In Circular No. 230 of the Treasury Department, Reg. The roles and ethical expectations of tax advisors are outlined in 10.33(a) of the circular.
Penalties may be imposed and disciplinary measures taken for failing to meet the requirements outlined by the IRS, such as failing to reveal the preparer’s identity on the return, failing to include a copy of the return to the taxpayer, and incompetence in preparing the return.
Changes in national and international tax law and legislation can impact the business and how it works wherever companies operate worldwide
Investors want more profit and less risk. Administrators, as well as authorities, require normal compliance.
To promote timely response and resolution to customer/vendor enquiries, we provide 24×7 customer support.
Vietnam’s business environment is now increasingly regulated, especially the recent changes in local taxes in line with the Base Erosion and Profit Shifting (BEPS) measures recommended by the Organization for Economic Co-operation and Development (OECD).
Effective tax advice and planning for its businesses can help international organizations adapt to all areas of operation, respond quickly to changes, reduce risk, and become more competitive.
Tax-efficient arrangement of holding firms.
Selection of jurisdictions ideally suited to meet the tax and commercial objectives.
Ease of funding of capital and tax optimization depending on the required structure of capital.
Verify that withholding taxes on cross-border payments such as interest, royalties, dividends, or branch payments are available and reduce them.
Evaluation of international tax credits, principles of distribution of costs, threats to permanent establishments.
Helps to build business models that increase permanent risks concerning.
Finance and Cross Border Treasury.
Analyzing intellectual property(IP) domicile jurisdiction and structuring intellectual property(IP) transfer in a tax-efficient manner.
Tax successful repatriation of cash and upstreaming.
Examination of foreign tax characteristics, including preparation for the Successful Tax Rate Reduction category.
Our business tax services provide the required transactional guidance and innovative planning for business entities, along with the necessary enforcement support to reduce the regulatory burden.
We offer a comprehensive preparation and consulting service covering all company tax fields; this ensures that the tax charge is handled and tax is reduced in other areas of the business involving the assets of shareholders and employee benefits.
The provision of an efficient and cost-effective enforcement service ensures that all your company’s fiscal responsibilities are fulfilled so that your time is released to your company’s advantage.
In order to address the needs of high net worth individuals and families, our personal tax advice services provide a wide variety of financial planning and wealth management services. This provides guidance on the use of trusts and estate planning, securing assets, and planning for retirement.
Our personal tax assurance services range from straightforward tax enforcement to complicated trusts and estates. When carrying out our insurance services, the effective control of our regulatory burden and avoidance of tax liability are fundamental considerations.
Legalraasta has considerable experience in supplying international and domestic companies with tax services, as well as individuals and representative offices. Via our long, near partnership with the tax authorities. Legalraasta provides extensive tax services, including the implementation of tax optimization systems and transfers pricing strategies in line with an international corporate strategy, compliance with Indian tax legislation, liaison with tax authorities, and the preparation and presentation of tax returns.
Advising both Direct & Indirect Taxes, including Customs, Excise, Service Tax, FEMA., Business Law, MRTP, and other relevant rules, including representations before authorities, in all legal and tax matters.
Our tax professionals have the expertise and manpower to provide the attention you need, from investigating the possible tax problems in new places to assisting with your enforcement efforts to help you adhere to stringent regulatory requirements.
When attempting to attain maximum tax enforcement and reduce risks, tax structuring is a key element of corporate business strategy.
Our consultants provide tax services unique to the client, such as:
Consulting on the topics of income tax.
Effective and tax-efficient methods for maximum tax administration
Tax Diagnostic Analysis in tax audit cases
During tax audits, assistance and advice
Planning for investment in an accurate and tax-efficient manner
Evaluating and maximizing the final effective rate of taxation
Advice and encouragement for the information and application of government regulations
Owing to fiscal policy and EU resolutions, indirect taxes (sales taxes, customs duty, VAT, etc.) are continuously evolving, while tax audits are all the more frequent. It becomes more difficult to handle indirect taxes as their relative impact is not easily discernible, although it affects the liquidity of a company directly.
Legalraasta Tax Advisory offers recommendations and tools to handle them properly, including:
Recognizing potential risks and opportunities by VAT diagnostic reviews.
Information on important legislation as well as on developments in EU strategy.
Help in strategic preparation with respect to indirect taxes so as to maintain their impression on the company’s financial issues, risk portfolio, and organization.
Help during tax audits or other tax proceedings
Notifying on strategy and planning intending to decrease the risks and costs from indirect taxes.
Advising on in-house procedures and indirect tax-related risk management
Support during discussions with the tax authorities and training of individual inquiries as per the Ministry’s requirements.
A significant tax and enforcement policy is necessary to reduce the indirect tax incidence and risk of assessment and, in turn, requires proper professional advice and assistance. We provide assistance for registrations, returns, refunds, representations, opinions, annual or transitional compliance with Goods and Services Tax (GST). We also provide services in respect of service tax, customs, VAT, luxury tax, excise duty, etc.
A review of tax returns by the Tax Department is required when it can be assumed that, for scrutiny assessments, the information submitted by the assessee is insufficient or wrong. Notice is given on the assessee’s behalf in this regard and shall be taken in compliance with the tax department’s instructions. We will help you with this:
Evaluation of income tax review
Pricing and litigation transition assessment
Representation to the board of corporate law, corporate registrar, and regional director.
Excise evaluation and legal proceedings
Appeals and litigations involving income tax.
The Foreign Exchange Management Act (RBI) Reporting to Reserve Bank of India (FEMA).
Constant shifts in tax law and legislation make it very difficult to ensure well-informed tax compliance.
With a broad range of services, including but not limited to, we provide efficient structuring and best strategies regarding your tax enforcement obligations.
Daily checks and analysis of management
Tax coordination of operations abroad
Conformity of corporate income tax.
Advice and support for taxes.
Continuous processes development and continuous investment in infrastructure, data collection, and processing
Help tax authorities during the end-of-year tax audit of the client.
Their performance is crucial for a cut in the global tax rate for foreign companies. Firms should approach their tax planning with requirements outside individual countries’ domestic tax laws. Our tax experts help you to optimize the imminent tax charge and keep you aware of tax developments affecting your company from the establishment of subsidiaries and branches to structuring for benefit repatriation.
Our international tax structuring services cover:
In domestic and foreign investments, reliable and tax-efficient strategies before and after a formal transaction.
International tax development updates on DTT and the BEPS initiative that can affect your company
Domestic and financial transaction tax structuring.
Tax claims and liabilities management
Advice on tax problems such as EU-wide fiscal harmonization.
Mergers and acquisitions have been the most popular methods of business development in the past twenty years. To diversify its services and products, a company may merge with an opponent, client, or supplier, or may take a friendly or hostile takeover.
Among others, our professionals offer:
Tax assessment and consultation on how acquisitions and mergers related tax risks are handled.
Advice on the best arrangement of transactions to boost net cash flows
a pre-acquisition or sale tax assessment of the business (due diligence)
Efficient transaction tax structuring
Help for better tax solutions after the agreement.
In current unpredictable immobilization, the sustainable output of real estate investment in combination with tax structuring is of utmost importance to our customers.
Among other services, we provide:
Preparation of returns on property tax
Objective worth evaluation for measurement purposes
The donation, legacy, and parental subsidy tax calculations
Preparation and presentation to the National Cadaster of related declarations
Property transportation advisory services
Immobilien planning consulting services
In the contemporary world’s constantly evolving global economic climate, companies, especially multinational corporations, trade daily with associated companies.
Pricing transfer, i.e. price-setting among legal entities in the same organization, has become a global problem. More comprehensive and demanding legislation and the need for adequate documentation is growing to minimize the likelihood of fines levied by regulatory authorities.
Our service, consisting of long-standing tax consultants with a constant flow of information on prices for transfer, provides, among other things:
Pricing and compliance consultancy move
Advice and assistance for the preparation in compliance with Greek/foreign legislation of transfer price documents
Price audits support for transition
Experienced practitioners who serve as trusted client advisors on corporate tax and regulatory issues
Focus on business experience in order to be well versed in the problems and issues facing different industries
Customer privacy and data protection are accomplished by adequate internal controls and risk policies.
Mergers and acquisitions: tax advice and assistance related to acquisitions, transformation, mergers & tax due diligence, direct and indirect
Tax consulting for employers going abroad on social security matters
Classification, due diligence, monitoring, health checks, and related services, including FATCA & CRS services
International tax advice appealing to the needs of the client
Assignments for transfer pricing.
Assistance with specifications for CbCR reporting.