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tax-advisors

Outsource tax advisors to the Philippines

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What is a tax advisor?

A tax advisor is responsible for providing organisations with expert financial advice and guidance in regards to tax accounting and tax law. A tax advisors’ main goal is to minimise tax payable whilst also complying with relevant tax legislation. Essentially, they help organisations optimise their tax returns. Tax advisors are the same as a tax consultant and can also be tax accountants. In this case, tax advisors would then need to prepare tax payments and returns instead of just offering recommendations. Tax advisors ensure that organisations are meeting tax requirements and adhering to taxation law. 

Tax advisor duties and tasks can include:

  • Managing direct and indirect tax matters within an organisation such as corporate income tax, FBT, payroll tax and GST
  • Revising and preparing tax payments and returns
  • Providing recommendations on tax strategies that align with an organisation’s financial goals
  • Providing tax advice to management
  • Identifying areas to reduce tax while complying with relevant tax legislation
  • Remaining up-to-date with changes and additions to tax law as they apply to a business.

These advisory tasks are particularly well-suited to being outsourced as they are repetitive and rules-based, requiring a high level of attention to detail. By sending these tax compliance tasks to an outsourced tax advisor, organisations can free up their local finance teams time to focus on performing value-add, revenue generating work.

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What key skills and qualifications make a great tax advisor?

Previous experience as an accountant, planner, financial advisor or tax analyst will ensure that organisations are receiving expert and accurate advice. Organisational tax compliance can make or break companies, so hiring advisors with previous experience in the industry is crucial. Tax requires high analytical and critical thinking skills to ensure that balance between low tax payables and compliance. 

Outsourcing providers recruit tax advisors the same way an internal, talent acquisition team would. Essentially, they ask the same questions to understand whether these offshore candidates would be able to provide the level of quality required by Australian organisations:

  • What experience and knowledge do you have as a tax advisor or in a similar role such as an accountant, lawyer or financial advisor? 
  • What are your analysis and interpretation skills like?
  • How do you ensure that you keep up-to-date with relevant changes to tax legislation and compliance standards?
  • Do you possess any professional accounting qualifications such as a CA or CPA?
  • How do you ensure excellent communication between senior management and tax auditor bodies?
  • Provide an example of how you showcased a high level of accuracy and attention to detail.
  • What accounting packages are you familiar with?

In terms of qualifications, a higher education degree or certificate in accounting, finance, economics or business is essential. Tax advisors require excellent numerical and interpretation skills to incorporate tax law into business functions properly. Previous customer service experience within a financial institution is preferred due to the transferable knowledge accumulated in these roles. Outsourcing companies can help you find the right candidate to meet your organisation’s tax requirements:

  • Whether you are looking to train junior tax advisors from the ground up and teach them your business's way of doing things, or 
  • Whether you are seeking expertise and a team of tax advisors with certifications and higher education.

Benefits of outsourcing tax advisory services

Organisations are able to appreciate the added benefits that come from offshoring tax advisory duties to the Philippines, including:

  • Increased employee satisfaction

    Give your local team peace of mind by relieving them of any unnecessary tasks and sharing the workload with an offshore team or team member. This will help increase employee satisfaction within your business. With your tax advisory team able to focus on what they were hired to do, you can expect to see a positive change in your working atmosphere.

  • Cost savings

    Hiring local staff can prove very costly to an organisation. Hiring an offshore team member that can assist your local team with routine tax advisory tasks for a fraction of the price will help you control costs in your organisation, saving up to 70% when compared to hiring locally.

  • Business growth

    Hiring full time offshore tax advisory can help increase profits and supercharge your business growth. By adding extra capability through an offshore team, your local employees will have additional capacity to take on more work and grow your business sustainably.

  • Efficiency increase

    Sending daily, time consuming, repeatable tax advisory tasks offshore will allow your local team to take on more work. By sharing the workload between your onshore and offshore team, you will notice a drastic increase in efficiency and productivity within your organisation.

What are the costs associated with hiring an offshore tax advisor?

Outsourcing your tax advisory services to the Philippines can represent significant cost savings of up to 70%. At Beepo, we offer a simple monthly fee to help you reduce your overheads and focus on growing your business. This monthly fee covers everything: including infrastructure, security, recruitment and training, management and staff benefits.

For more detailed information on costs, please arrange a business consultation so we can tailor a solution to your business needs.

The Beepo advantage

Beepo is an Australian-based outsourcing company that offers businesses a distinct competitive edge with offshore staffing solutions. We take the time to understand the hardships our clients face when it comes to recruiting hard working, dedicated staff. The Philippines is renowned for its finance talent and advisory skills, and we are adept at finding and recruiting the best of the best in terms of financial advisors.

Additional finance roles and services your business can outsource to the Philippines

So, you've decided to send your outsource tax advising tasks to the Philippines to take advantage of the benefits of outsourcing. Why not consider embracing offshoring solutions for your other finance services as well? Take a look at the below list of roles and services that are well-suited to offshoring:

Interested in learning more about the outsourced solution we can provide for your business?