Tax Implications
Assess tax implication of changes in tax laws
Type
Functional
Competency Area
Taxation
Levels
Articulate different tax- related issues to the organisation's management
Analyse changes in tax laws and their implications on the organisation
Update the accounting software or systems accordingly
Prepare tax computations and reports reflecting the changes
Identify tax implications
Identify impact of updates to tax laws and business transactions on the engagement plans
Consult tax experts to resolve tax issues
Identify issues accurately that need expert opinion
Evaluate tax implications
Analyse impact of updates to tax laws and business transactions on the engagement plans
Evaluate the opinions of tax experts in the resolution of tax issues
Provide all round arguments and make a case for own opinion succinctly and clearly
Anticipate tax impact on businesses
Evaluate impact of all types of taxes on businesses
Evaluate impact of updates to tax laws and regulations on the audit plans
Advise modifications to processes / operations to reduce tax implications