Question

How does a tax accountant meet its obligations to both the tax system and his/her client?

Answer 1

A tax accountant makes use of his/her skills and knowledge of tax legislation and regulations to meet its obligations to both the tax system and his/her client.

The obligation of a tax accountant towards the tax system is to ensure that the clients of the tax accountant file their tax returns in such a manner that ensures legal and regulatory compliance. The tax accountant ensures that there is compliance with government laws and procedures as far as preparing and filing of tax returns are concerned.

With regards to obligations towards their clients a tax accountant advises their clients on different ways to minimize the impact of paying taxes by making use of available legal methods and measures to reduce tax liability. A tax accountant explains tax laws and regulations using non-technical language to their clients so that tax payments are reduced.

Thus a tax accountant meets its obligations to both the tax system and his/her client by ensuring that the work being done by them ensures all legal compliance and adherence to regulatory requirements and that the skills and knowledge of tax legislation and regulations of the tax accountant will enable the clients to reduce their tax outgo by making use of available provisions in the tax law. This, eventually, enables the tax accountant to meet its obligations to both the tax system and his/her client.