THE TAX ADVISOR'S ROLE - understanding of the basic tax...

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THE TAX ADVISOR'S ROLE * An external tax advisor is restricted to areas of tax, compliance, Fling requirements, and complex reorganization of corporate structures for an enterprise * Their input into the management decision process is limited to interpretive purposes * They cannot be expected to be fully aware of the decision-making process faced by each client, or the types of decisions arising from that process * Advisor can play a role in developing a management approach to taxation and contribute to its ongoing success * The tax advisor can: o while helping to initial a management tax program, work closely with the Fnancial executive to develop a tailored program by identifying the types of decisions typically made within the organization and coordinating them with the relevant areas of taxation; o provide initial seminars that increase the functional managers' overall
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Unformatted text preview: understanding of the basic tax structure; o assist in communicating to all sectors of management the tax areas that require consideration within their spheres or responsibility; o provide updated info on changes in tax laws that may alter the tailored program; o review major policy and strategy alternatives before they are implemented; and o from time to time, complete a tax decision audit by reviewing internal documentation of past decisions within departments, and follow with a report on how to improve the process, providing expanded info where relevant * Involving the independent tax advisor in the development of a decision-making approach to taxation will permanently open direct lines of communication with decision makers and will allow the tax factor to be given timely consideration...
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This note was uploaded on 02/05/2012 for the course ACC 522 taught by Professor A.vena during the Spring '11 term at Ryerson.

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THE TAX ADVISOR'S ROLE - understanding of the basic tax...

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