The role of tax accountants in business

Tax accounting is a phrase that is no longer strange to any business. Since the establishment of an enterprise, it is mandatory to have a tax accounting department for the business to operate and exist in accordance with the management of the law. In this article, TASCO will better inform customers about the role of tax accountants.

1. What is tax accounting?

🔰 As an accountant in a business, a tax accountant is in charge of tax declaration issues of the business. This position of accounting personnel is an obligation of enterprises to the state. With a multi-sector economy, the state can only manage it when there is tax accounting. Opposite, businesses also have a stable business and favorable tax reports if tax issues are clear.

🔰 Tax accounting is not an easy job for a beginner accountant and especially for accounting students who have just graduated from college. Because, in addition to professional knowledge, tax accountants must have professional, smart manners.

🔰 Tax accounting helps businesses to do business stably and make tax reports in accordance with state regulations clearly and transparently.

🔰 Tax accounting acts as a bridge and link between businesses and the state. Thanks to the work of tax accountants, helps the state to manage the economy more easily.

2. Role of tax accountant:

✔ Gathering invoices and arising vouchers of enterprises for monitoring and accounting;

✔ Prepare monthly, and quarterly tax reports and pay taxes to the company;

✔ Prepare financial statements, corporate income tax (CIT) and personal income tax (PIT) reports, and year-end tax reports;

✔ When problems arise, directly work with tax authorities;

✔ Check and compare VAT invoices with the list of input and output tax of each establishment;

✔ Prepare a monthly report summarizing output VAT of the whole company and classifying by tax rate;

✔ Prepare a monthly report summarizing input VAT of the whole company according to the output allocation ratio deducted;

✔ Monitor the company's tax refund report, state budget payment, and budget backlog;

✔ Compare tax reporting data of establishments between the report and the final settlement;

✔ Prepare tax refund documents when problems arise;

✔ Make periodic or irregular tax summary reports;

✔ Check input invoices;

✔ Check the report on the use of tax invoices to report to the tax department;

✔ Timely update information on tax laws, prepare notices of operations prescribed by tax law related to the company's the production and business activities for the establishment to know and implement;

✔ Planning VAT, corporate income, budget payment;

✔ Update monitor the receipt and delivery of invoices;

✔ Monthly and quarterly reports on the use of invoices in the period.

✔ And other jobs related to accounting of the business.

3. Tax accountant's job:

⏩ Determining the basis of VAT calculation: Compare input VAT invoices and output VAT invoices, ensuring the reasonableness, validity, and legality. Check and classify VAT invoices according to each tax rate. Monthly or quarterly, the tax accountant needs to make a report on the general declaration of input and output VAT to obtain data as a basis for determining the enterprise's VAT payment obligation to the State.

⏩ Determining the basis for calculating excise and environmental protection tax: For business activities related to the import of goods subject to excise tax or environmental protection tax, the tax accountant needs to check goods tax rates, and classify and make tax declaration reports for these two taxes as a basis for determining tax payment obligations.

⏩ Determining the basis for calculating personal income tax: Based on the actual salary of employees working at the enterprise and the state's regulations on personal income tax law, family deductions... Tax accountants calculate personal income tax, declare personal income tax, and report to tax authorities according to the correct accounting period.

⏩ Determining the basis for calculating corporate income tax: Tax accountants need to combine with general accountants to understand data, compare data and make monthly, quarterly, and annual financial statements to serve to control the internal finance at the enterprise. It also serves as a basis for determining corporate income tax obligations to state agencies.

➥ Regularly update information, tax laws, and policies to understand the implementation bases and then compare tax reporting data.

➥ Arrange tax-related invoices and vouchers in a scientific and reasonable.   

➥ Store and preserve invoices and vouchers.

➥ Make assessments when there is a discrepancy between the tax report of the enterprise and the tax payable to the State agency,

➥ Proposing to handle problems arising from invoices, adjusting and canceling invoices in necessary cases before declaring them to ensure that the invoices are reasonableness and valid.

➥ Prepare reports related to taxing accounting operations at the request of the board of directors or tax authorities.

4. Solutions for businesses lacking tax accountants:

✳️ For some newly established companies and businesses, finding tax accountants is quite difficult. Or some personnel lack experience and lack of skills, but the preparation of tax reports still has many shortcomings and mistakes. Tax agents TASCO will help business people solve the above problems with a lump-sum of tax accounting services in Ho Chi Minh City, all your business problems will be solved with the quality of service that TASCO experts bring. With many years of experience in the field of business legal advice, TASCO will solve it in the fastest time, with the most economical cost for your business.

⇒ Register here for TASCO's earliest advice or contact hotline: 0975480868 (Zalo)

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