We have always heard that the tax system is complex, and looks like a patchwork. What happens is that the taxes are of different types and, sometimes, they are linked, and influence each other which ends up causing a lot of confusion for those who do not know the area. Taxes can be classified as fees, and are administered at the municipal, state and federal levels. In the Federal Constitution, the powers related to taxes are distributed among the federal entities which determine the essential elements for calculating, and collecting these taxes. This is why, we need to hire the best accounting Thailand services online in affordable price to avoid any tax burden which stands in the road of your success.
Is taxation something which worth carefulness?
Another important factor that increases the complexity of the tax area is the amount of changes, and updates that occur constantly, directly affecting companies and, citizens. In addition to the huge amount of ancillary obligations that legal entities and individuals are required to send to the Tax authorities. Although these changes in the tax area exist to try to improve, and balance the country’s finances. Due to all this complexity, what was previously known only as an area within accounting, has now become a unique sector with great relevance in decision making within the company.
The utility of tax consulting service
The tax area is not only responsible for administering taxes, and ancillary obligations. It is much more complex than that. Responsible for monitoring updates, and other activities of the company, related and impacted by the tax sector, more than ever assisting in business decision making, ensuring the continuity of the company. Thus, the main functions of the tax area can be summarized in three parts – bookkeeping and control, guidance and tax planning. In the case of bookkeeping and control, the main activities are:
- Assistance in the accounting record of tax provisions,
- Calculation of taxes and completion of payment slips,
- Assistance in calculating and recording taxable income,
- Control of payment terms,
- Elaboration and delivery of ancillary obligations.
As for orientation, the main activities involve – guidance, training and supervision of employees in the tax area, tax guidance for other areas and units of the company or controlled, and affiliated companies. The tax planning, responsible for the study of the various alternatives for reducing the tax burden can be considered the most important points when it comes to the fiscal sector.
