IT consulting, programmers and software developers: We are certified tax advisors for data specialists

Tax consulting for IT companies requires extensive industry knowledge. We have a long standing experience working for the IT sector as certified tax advisors and chartered accountants. Read more about this here.

Even in tax consulting, it is not just about zeros and ones

IT applications are much more than just dealing with zeros and ones. So is the case with tax consulting and representation before the tax authorities. It is much more than just plus and minus, profit and loss. What matters is the overall view with which we as certified tax advisors and chartered accountants can advise our clients.

These services are important in tax consulting for IT companies

As mentioned above, tax consulting cannot be reduced to merely profit and loss statements or balance sheets, just like management consultancy is not just about market analyses. For us, tax consultancy always includes the preparation of VAT expert opinions with checklists for the correct preparation of outgoing invoices. In addition, advisory services of Benefitax cover the topic of company succession.

Steuerberatung für die IT-Branche

Tax Advisors for IT Companies

Typical clients from IT sector

Some of our typical clients from IT industry

  • IT consultant firms in the banking sector
  • IT companies and independent professional specialists for system integration
  • System electronics providers
  • Developers of individual software applications
  • IT project planners
  • Engineering firms with internally developed or licensed planning software
  • IT developers for the automotive industry and the banking sector
  • Website designers

Companies and independent professionals from the IT sector: typical clients

We cannot provide client names as references of our services. As certified tax advisors and chartered accountants, we are committed to confidentiality and, non-disclosure of client data and bound by loyalty towards our clients. However, we will be happy to share the types of companies for which we regularly work as tax advisors in the IT sector. You can see some examples to the right.

If you are an independent professional, you can skip a lot of obligations that large IT companies have comply with. This includes the following:

  • Double entry accounting (instead you only need to list the income and expenditure and keep the documents for the same)
  • Cut-off of expenses and revenues
  • Evaluation of supplies
  • Annual financial statements (instead you only need to prepare a cash basis accounting and fill out enclosures “EÜR” and “S” in your income tax return)
  • In case you are a small-scale entrepreneur (ask us about the upper limits), you do not need to issue invoices with VAT pay VAT to the tax authorities. It is needless to say that you cannot claim input tax.
  • If your turnover is still low, you do not have file monthly advance VAT returns. It is then sufficient to file quarterly VAT advance returns or even less, only an annual VAT return.
  • You are not subject to trade tax as an independent professional and additionally, save the work of preparing a trade tax return.

Normally, it is quite simple and not much work is required! On the other hand, things can sometimes get complicated and experts are required to avoid any nasty surprises in a future tax field audit.

  • Some operating expenses always lead to disputes with the tax authorities. For example, expenses for company cars, gifts to customers and employees, travel expenses, entertainment expenses or even the costs of a work space at home.
  • Hiring freelance employees often leads to problems regarding false self-employment, artists’ social insurance and minimum wage.

If you prepare the bookkeeping and accounting in the hope of cutting down on the costs of tax consulting, you need to know that the effort and cost to correct bookkeeping mistakes, is often greater than having the bookkeeping prepared by a tax advisor. Besides, incorrect advance VAT returns have to be corrected later and often lead to inquiries from the tax authorities. If this happens repeatedly, a tax field audit or VAT inspection can be initiated.

Even in tax consulting for IT sector, there is much more than zeros and ones.
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