The accounting and accountant vienna ( Buchhalter wien ) carries out administrative, accounting, and tax procedures in compliance with the regulations in force at the local and national levels. For example, it ensures that the legal obligations for general and analytical (or industrial) accounting are fulfilled and that taxes are paid promptly and correctly, according to the tax deadline.
It ensures that each accounting document is compliant with the applicable rules in case of verification by auditors or inspectors of the tax authorities. In this way, it prevents the company or customers from incurring penalties and fines from the supervisory bodies.
Where Does a Buchhalter Wien Fit in Your Business?
Every business needs the services of an accountant vienna ( Buchhalter wien ), so this professional finds work in many different realities.
The main activities are the preparation of accounting records (first note, assets, accruals, and deferrals) and the keeping of company accounting records, credit and debit cycle, customer and supplier accounting, preparation and verification of the financial statements (pre-tax and post-tax) and the preparation of reports for management control – ensuring the accuracy of the accounts.
Also read – Defining Lohnverrechnung Wien In 2021?
The great demand for accounting staff comes from medium and large commercial, industrial, and service companies and public bodies, which usually rely on an internal administrative-accounting department. The job offers for an accountant then come from consulting firms and accounting firms, which provide consultancy and accounting management services to companies, small and medium-sized enterprises, individual professionals, and individuals.
Duties and Responsibilities of the Accountant
The activities that the accountant carries out on a daily basis are:
- Keep accounting records (double entry)
- Manage the relationship with the banks
- Ensuring the correct fulfilment of fiscal and tax laws
- Provide accounting advice
Skills of an Accountant
To work as an accountant, specific skills and abilities are required :
- Expertise in general accounting and industrial (or analytical) accounting
- Knowledge of administrative-accounting procedures
- Mastery of IT tools (Excel)
- Knowledge of management software for accounting and ERP (such as SAP, TeamSystem, Navision)
- Analytical skills
- Precision and attention to detail
- Reliability and seriousness
- Maximum discretion on customer data
- Flexibility and organizational skills
- Respect for deadlines and deadlines
Tax advice: What is it?
Before discovering in detail what the corporate tax consultant does and what his duties are, let’s take care of tax consultancy.
When we talk about tax consultancy, we refer to a job that requires multiple skills and knowledge, as it embraces different sectors. The complexity of this job increases if we think about its link with the tax sector. In fact, in this sector, the legislation is constantly evolving. Therefore it is advisable to keep up to date both nationally and internationally.
Tax advice is an extremely important activity for both private citizens and businesses. This is because it is a job that provides adequate support for the management of relations with the financial administration of both local authorities and the state.
How a Tax Consultancy Firm is Structured
Accountant vienna ( Buchhalter wien ) provides taxation obligations within a tax consultancy firm regarding individuals, businesses, companies, and entities. Therefore, maximum attention is paid to taxation, both for indirect and direct taxes, which include VAT settlements, IMU, and TASI declarations. Direct taxes also include tax returns for individuals and companies, legal persons, non-profit organizations, and non-commercial entities.
Therefore, all those subjects who must provide a tax return with form 770 and holders of a VAT number are in need of tax advice.
A tax consultancy firm must have an internal tax lawyer. A figure of considerable importance as it provides judicial and extrajudicial assistance and deals with tax advice at 360 degrees.
The synergies between the profession of lawyer and that of accountant/business consultant have become more and more palpable given that, above all, by law. The lawyer has had to approach tax skills, for example relating to collection. The accountant has had to acquire more and more experience, introducing himself into legal fields, for example, in the study of interventions relating to the preventive measures that the Administrations implement to recover taxes. The tax advisor guarantees the quality of the service provided by the professional firm. So if one day you find yourself looking for an expert and competent professional firm in tax matters, make sure that there is a tax lawyer inside.
What a Corporate Tax Consultant Does
Now that we have an overview of tax consultancy, let’s get into the heart of the guide created by the figure of the corporate tax consultant.
A little while ago, we talked about direct and indirect taxes. Direct taxes are those that directly affect the income or assets of the subject, as they are immediate and direct indices of their ability to pay. On the other hand, indirect taxes affect the acts of production, exchange, and consumption of goods and services. Through these acts, the subject indirectly manifests his / her ability to pay, use, and/or transfer income and assets.
The direct taxes that a tax consultant deals with are:
- Tax substitute declaration with form 770
- Declarations of TASI and IMU, with also the various payments
- Periodic VAT settlements
- Evaluation of final inventories in warehouses
- Calculation of VAT balances and advances
Concerning indirect taxes, tax consultancy services, on the other hand, concern:
As you can see, tax consultancy provides assistance services for problems of significant complexity. This is why it is always recommended to contact a business tax consultant who can guarantee the total management of every tax aspect. This recommendation applies to freelancers and entrepreneurs looking for a tax and legal consultancy firm. The accountant’s task is to ensure that the accounts are in order and prepare the documentation for tax compliance in compliance with the legislative obligations in force.
Skills of the Corporate Tax Consultant
As you can see, the tax consultancy sector studies many sectors and deals with national and international legislation, subject to constant changes. For this reason, the business tax consultant is called to a continuous and constant updating in tax and fiscal matters. Without training and continuous updating, it would not serve its customers seriously.
The corporate tax consultant also plays a fundamental role in managing relations with the financial administration of the state and local authorities. All the tax obligations of entities, companies, businesses, and individuals are placed in his hands.
Over the years, the classic consultancy has been enriched with new skills and abilities. As proof of this, here is a list of aspects for which tax advice is requested today:
- Demergers, liquidations, mergers, transformations, share transactions, disposals, and acquisitions
- Corporate taxation, special regimes, non-profit entities and subjects, and corporate groups
- Taxation of foreign entities operating in Italy
- Preparation of documents for transfer price
- Management of issues relating to relations with “Tax Havens” (i.e., countries on the ECB Black List)
- Tax optimization of investments and turnaround operations
- When choosing a tax consultancy firm, there must be professionals with proven many years of experience.
Other Duties of the Tax Consultant
In addition to the tasks seen a little while ago, here are a series of other tasks entrusted to the figure of the tax consultant and the consulting firm:
- Provide tax, administrative and accounting consultancy
- Carry out the function of tax intermediary
- Attending at the financial offices
- Realize the compliance visa and certify the sector studies
- Assist and represent in litigation
- Carry out judicial and extrajudicial appraisals
- Carry out appraisals for contributions, transformations, mergers, divisions of joint-stock companies
- Reassess company and land holdings
- Deposit Chamber of Commerce practices
- Deposit financial statements of the Company Register
- Implement INPS and INAIL practices
- Pay in installments debts registered in the role
- Professional outlets