Understand the advantages that tax advice offers for your company There are many consulting models and one of the fastest growing is tax advice. Managing a business, regardless of its size, is never easy. Managers need to make decisions on a daily basis that, to a greater or lesser extent, will affect the direction of the company and the routine of all employees. Thus, there are many flows and scenarios to be observed, making the delegation of tasks crucial for good management and tax advice offers benefits to your company in these cases.
Having accurate information becomes even more valuable, since the credibility of the data will provide confidence and a real basis for making decisions. Thinking about good management, it is increasingly common to hire consultancies to evaluate and investigate possible improvements within companies.
What does tax advice offer for your company? Tax consultancy provides your company with financial and accounting data applied strategically to the business model. The survey developed by the tax consultancy evaluates, as can be seen from the term itself, the taxes paid by the company. It is not uncommon for companies to end up paying taxes unnecessarily, entailing higher costs and losing a valuable part of the revenue.
For this reason, tax consultancy offers your company where you can optimize your tax payment, allowing you to reduce costs and prevent yourself against financial crises. This reduction in tax burdens makes it possible to relocate amounts to other investments.
It is also common for tax advice to assist in the assessment of direct and indirect taxes . Often, the company can count on tax benefits and incentives, with the reduction of certain types of taxes.
Tax consultancy also offers your company assistance with planning and management, both by following legislative changes, helping with due benefits in relation to the tax authorities, and also by allowing the construction of a more sustainable future for the company's finances.
In a country like Brazil, where the demand for high taxes is constant, tax advice is an intelligent alternative to avoid unnecessary costs and increase your accounting efficiency. I try to lower costs, the company becomes more competitive and stronger to gain new shares of the market.
Why hire a tax consultant? Taking into account the points mentioned above, it is possible to clearly see that tax advice has an inestimable value. After the initial investment, tax consultancy offers your company a long-term cost reduction that will have an impact for many years. In addition, it provides a reliable source of information for leaders, investors, and partners.
Learn more about opportunities involving tax incentives and how TATICCA can help with the process.
Faced with market crises and difficulties, knowing how to take advantage of every opportunity is essential to remain competitive and maintain business growth in a sustainable manner. Among the possible resources that entrepreneurs have at their disposal, one of the main ones is the possibility of having tax incentives. But after all: do you know how your company can count on tax incentives or haven't you thought about it yet?
What are tax incentives? An important aspect that tax advice offers for your company is the assistance in taking advantage of tax incentives. Many states and municipalities offer tax incentives for companies as a way to generate investment attractiveness in the region. The strategy is good for both parties. On the government side, they are able to bring business to the region and enable the generation of jobs and the movement of the economy. Companies, on the other hand, are relieved of the tax burden and are able to allocate their resources to strategic areas of the business.
Tax incentives can reduce or eliminate a tax burden referring to a market segment or activity, whether directly or indirectly. There are various forms of tax incentives, among which we can highlight a few. It is necessary, however, to recognize the tax incentive intrinsic to your business.
How to recognize and use corporate tax benefits? TATICCA has a team prepared to assist entrepreneurs and administrators in evaluating the most attractive regions for the implementation of their respective activities. Our service is also supported in the preparation of an application for submission to the tax authorities.
Tax planning consists of the strategic use of accounting. In this sense, one of the most important roles played by consultancies stands out, which are dedicated to the careful and responsible assessment of all the points that involve your company, such as expenses, costs and taxes. In this way, every movement of the company's values is analyzed in detail and, based on the data collected, graphs are prepared that will represent, in a clear and didactic way, the current situation in which the company finds itself. In other words, based on this research, it will be possible to measure how much is spent, what are the types of costs, how to reduce them and in what way. Therefore, it is of paramount importance that the analyses be carried out in an organized and successive manner, so that the desired result is achieved in an efficient, fast and safe manner.
The surveys are carried out in stages: 1) diagnosis of the value chain; 2) strategic planning; 3) review of processes; 4) sales and operations planning; 5) strategic sourcing; 6) shared services center; 7) zero-based budgeting; and 8) indicator management.
The stages of tax planning And how does each stage of tax planning work? Below, we offer a synthetic explanation of each of these phases:
Value chain diagnosis : at this first moment, a group of experienced consultants will come to the company. On an ongoing basis, a series of activities will be carried out in order to analyze the company's performance, in a short period of time, and, with this, the current situation in which the company finds itself will be radiographed.Strategic planning : it is one of the most important factors for a company's success. At this stage, we calculate the risks and establish goals to be achieved and the objectives to be achieved. The focus is not only on the pursuit of these objectives, but especially on the formulation of a planning structure to achieve the goals and objectives, that is, to put into practice the actions that will generate positive results. In this context, it is essential to be prepared for possible difficult moments in the market, such as changes in customer profile, product demand, and other obstacles. However, all risks must be calculated with the greatest possible investment security.Process review : a periodic review is carried out to ascertain the real structural arrangement of the company and, if necessary, adaptations to the adopted market model will be suggested.Sales and operations planning : like the previous steps, planning must also be applied to the sales area, which will allow the identification of new opportunities and correction of deficiencies.Strategic Sourcing : the cost of a company directly interferes with the development of all its areas. When a cost is reduced in an area, the company as a whole wins. This qualitative analysis, therefore, is carried out precisely at this stage. Thus, research is carried out in various sectors, such as negotiation, import, shipping, storage of materials, qualities and third-party services, in order to identify the types of costs, as well as measure them.Shared Services Center : the search for outsourced services is undoubtedly one of the best practices for reducing costs. It provides benefits to the company quality control and greater expansion of other operational activities.Zero-based budget : the researches are carried out in order to display and quantify all costs, which will allow the identification of niches subject to change and those that are already stable.Management by indicators : the indicators will reveal what must be done to promote the company's best performance. The implementation of the actions and suggestions offered by the consultancies will allow the company to maximize its results and the expected gain in efficiency.Taxation is an important element when reviewing a company's expenses. Taxes are present in most of the business routine. They are charged when buying from suppliers, when selling to customers, and also in many other cases. However, a question must always be in the minds of businessmen and financial professionals: are we paying taxes in the most beneficial way for the company? This thought is valuable because changes in legislation and governments can alter previous scenarios, modifying the form of taxation. Monitoring these changes is not something simple and routine, and it is common for questions to arise on the subject.
Understanding more about tax review Considering the information above, it's easy to understand what tax advice offers for your company and why tax review is important. It serves to re-evaluate all calculations and procedures involving taxes. This action is a great way for large, medium, or small businesses to protect themselves against tax risks.
The tax review will correct errors and adapt the company to the best possible form of taxation, always being within all legal and legal aspects.
When should you hire a tax review service? It is always important to remember that the team that performs the activities related to the calculation of taxes in the company does so in a routine manner and, most of the time, does not carry out this activity alone. The fact that the activity becomes a routine brings with it the risk of accommodation in relation to changes in the legislation, running the risk of not noticing the changes that would affect the company's taxation.
It is recommended that companies, even if they have a specialized team, carry out the annual review of their taxes by an outsourced team that carries out the review with a totally new and distant view of any defects generated by routine.
In addition to these risks, sometimes, the financial team needs help reviewing taxes and/or resolving doubts regarding ongoing procedures. In these moments, having a specialized audit can be the difference between rapid effectiveness and hours spent unsuccessfully.
Tax review through tax advice plays a fundamental role for companies and organizations, providing efficient management and tax compliance. This practice involves a detailed analysis of the tax procedures adopted by the company, identifying possible savings opportunities, mitigating risks, and correcting possible errors.
The importance of this process can be highlighted in several aspects:
Cost Reduction: The tax review seeks to identify legal opportunities to reduce the tax burden, optimizing the company's financial resources. By analyzing the tax framework, tax credits, and other tax benefits, the consultancy can identify areas where it is possible to save in a legal and ethical manner. Risk Management: The tax environment is complex and constantly changing. Tax advice helps companies to keep up to date with changes in tax laws, avoiding risks of non-compliance and sanctions. In addition, the identification of possible inconsistencies in tax processes prevents possible assessments by supervisory bodies. Operational Efficiency: Tax review also contributes to the improvement of internal processes related to the tax area. Identifying and correcting errors in tax records and tax calculations allows the company to operate more efficiently, avoiding rework and eliminating possible sources of error. Tax Planning: Tax consultancy assists in the preparation of strategic tax planning. This involves analyzing different scenarios and choosing the most advantageous options for the company in terms of tax burden, considering the particularities of the business and changes in legislation. Competitiveness: Companies that manage their taxes efficiently gain competitiveness in the market. The cost reduction provided by tax advice can be directed to investments in innovation, expansion, or improvements in products and services, which contribute to the company's competitive position. Legal Compliance: Compliance with tax obligations reinforces the company's image before its stakeholders, such as customers, suppliers, and investors. In addition, complying with tax laws contributes to building a solid reputation and prevents damage to the company's image resulting from legal problems. Tax review through tax advice is a strategic practice that goes beyond simple compliance with tax regulations. It is configured as a valuable tool for financial management, the reduction of costs, the minimization of risks and the promotion of competitiveness, ensuring that the company operates efficiently and in compliance with current legislation.
Get in touch with TACTIC , which provides integrated auditing and accounting services, taxes , corporate finance, financial advisory, risk advisory, technology, business consulting and training, for more information, at www.taticca.com.br or e-mail taticca@taticca.com.br and learn more. Our company has professionals with extensive experience in the market and has certified methodologies for carrying out activities.
