QUOTE(CKJMark @ Jan 21 2011, 09:35 AM)
Glad to help. I was in your position when I started out too. A lot of companies are hiring tax accountants these days to do their annual tax filing and admin because of self-assessment. This is the bread-and-butter of our line, you cannot escape this. If you are leaving the firm for this type of role, always check whether you have to do "more" than compliance. If the answer is "no" then perhaps you should stay in the firm because the future of pure compliance staff is not very bright for your skill development.
If you really want a tax career in commercial, to make yourself in-demand you should be able to address deferred tax, transfer pricing, FRS 139 and GST. That is what will segregate you from the average compliance staff in an accounting firm. This is really a case of where a jack-of-all-trades is better than being a master. A tax advisor adds value by identifying and mitigating risks to prevent penalties, and helps to improve cash flow when possible. To be able to do this, you must be aware of as many issues as possible to nip problems in the bud before they blow-up.
I notice these days a lot of my juniors don't want to do compliance, and opt to join special divisions like advisory, tp, gst and transaction tax. I would not advise you to do this if you plan to leave the firm. Specialised fields limit your career movement. Compliance is still the core work we do unless you have the good fortune to be hired by someone as large as Petronas.
So you suggest freshies to join compliance then move to specialised division?If you really want a tax career in commercial, to make yourself in-demand you should be able to address deferred tax, transfer pricing, FRS 139 and GST. That is what will segregate you from the average compliance staff in an accounting firm. This is really a case of where a jack-of-all-trades is better than being a master. A tax advisor adds value by identifying and mitigating risks to prevent penalties, and helps to improve cash flow when possible. To be able to do this, you must be aware of as many issues as possible to nip problems in the bud before they blow-up.
I notice these days a lot of my juniors don't want to do compliance, and opt to join special divisions like advisory, tp, gst and transaction tax. I would not advise you to do this if you plan to leave the firm. Specialised fields limit your career movement. Compliance is still the core work we do unless you have the good fortune to be hired by someone as large as Petronas.
Is it really hard to get job in commercial line with tax experience?
If I'm aiming to be finance manager in future, is tax suitable?
And do most tax ppl get stuck in the accounting firm?
Jan 21 2011, 03:33 PM

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