Taxation advisory is a critical aspect of running a business. It involves understanding the various taxation laws and regulations, and how to use them to optimize the company’s tax burden.
Income tax and goods and service tax are two of the most important taxes that businesses need to understand in order to ensure compliance. Income tax is levied on individuals or companies based on their income, while goods and services tax is a value-added tax that is applicable on goods and services purchased by consumers.
Taxation advisors help companies navigate these complex laws, providing advice on how best to structure their finances in order to reduce their overall taxation burden. They also provide guidance on filing taxes correctly and efficiently, helping companies remain compliant with all applicable regulations.