Business processes and requirements pave the way for efficiency and profitability for the organisation at large. Profits and expenditures need to be properly recorded and managed, with additional taxation implications. Highyield Finance understands the importance of managing business finance and taxation.
A tax practitioner can be defined as somebody who completes returns in compliance with the South African Revenue Services on behalf of third parties for a stipulated fee. Tax practitioners play a critical role in bridging the gap between the public, businesses and the government.
As there are ongoing legislation and regulations that change or are amended from time to time, it is of utmost importance for businesses to be compliant with the South African Revenue Services.
The role of a tax practitioner is to ensure transparency with your taxes. It is the responsibility of your tax practitioner to exercise due care by advising the client of the documents that are required to be submitted in a timely manner. In addition to this, the due diligence should be conducted in a transparent manner.
As part of keeping the client informed of all the changes occurring in the tax arena, it is important for tax practitioners to keep abreast of interpretations of certain areas of legislation and interpretation, risk areas and templates. There should also be a close alliance with the professional bodies such as SAIT, SAICA and SAIPA as well as National Treasury for the implications of the budget of South Africa.
Contact Highyield Finance for more information about how tax practitioners can make a difference in your business and personal finances.