The Tax Advisor of the Future – A Management Consultant?

The handling of accounting or tax management practices of companies as well as private individuals is a difficult task that requires maximum precision. By relying on GST compliance outsourcing, you will receive an impeccable tax and commercial assistance service.

Tax advice is changing- and with it the profession of a tax advisor. Instead of traditional payroll accounting, more and more proactive consulting services are in demand.

The Tax Advisor of the Future- A Management Consultant

Pressure from governments to increase tax revenues, increasingly higher levels of transparency required by stakeholders, growth of e-commerce, global supply chains, increasingly pervasive cross-border regulation, and regulations.

From a fiscal and regulatory point of view, companies are facing an increasingly complex scenario, in a phase in which globalization and technological innovation are profoundly redefining the structure of the economy.

To face such a challenging context, you need a reliable professional partner, a GST consultant in India, able to provide timely solutions and mobilize truly multidisciplinary know-how.

From payroll accounting to management consulting

No question about it: tax consultants have specialist knowledge that many companies urgently need. While the need for accounting activities such as payroll is falling, the demand for complex consulting services is increasing.

What tax consultants have been doing on the fringes of their daily work is increasingly becoming the focus of the law firm’s work.

The tax advisor: financial expert with a changing job profile

The fact that the tax consultant’s profession is changing and that holistic consulting services are becoming more and more important can already be seen in the professional career of tax experts.

Anyone who calls themselves a tax advisor has generally completed a course, relevant training, or a degree. However, consultants with financial expertise are also pushing into the market on the business side.

For some years now, there have also been commercial diploma courses that enable a specialization as a tax advisor. The advantage: Business know-how and tax expertise are combined in the training. The graduates are therefore very well prepared for the changed counselling requirements.

Typical issues and business areas that management consultants have dealt with up to now can in the future also be part of the range of services for tax consultants.

The advantage of tax experts: More than other consultants, they have a close client relationship. However, holistic advice requires a new level of pro activity and initiative from them- skills that have long been less important for the job description and have been part of daily business for management consultants from the very beginning.

Even if tax know-how will remain the core competence of tax consultants, holistic advice and new business areas require additional skills.

Qualified consultants who act independently and proactively are increasingly in demand: all-rounders who provide companies with comprehensive advice and who also score with specialist knowledge.

In the future, whether a tax advisor can be successful in practice will also depend on how well he gets along with his new advisor role. Anyone who has previously worked in a traditional office environment will inevitably have to adapt.

This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. AKGVG & Associates does not intend to advertise its services through this.

Posted by:

CA Ruchika Gupta

AKGVG & Associates

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