Taxation Services - Expertly Trained Offshore Accounting Team | Comprehensive Income Tax Preparation, Data Entry, Audit Analysis, Local Tax Law Compliance

The trend of outsourcing preparation of income tax returns overseas, particularly to India, is believed to have commenced in the late 90a s. A relatively nascent segment, tax return offshoring has witnessed significant activity over the past few years with an increase in the number of accountants and organizations outsourcing tax preparation with a view to minimizing operating costs and maximizing efficiency. Though a large proportion of the work is related to data entry on tax forms, specific aspects of the offshore taxation process are more knowledge intensive. Taxation Services may involve auditing and substantive analysis such as examination of balance sheets, interpretation of items on the profit and loss statements, and computation of taxability, requiring knowledge of the local tax laws, amendments and pending legislations. The complexity of the activities may be gauged from the fact that offshore employees require specialized education and continual and intensive training. For instance, a large Income Tax Services provider in India renders in-house training to its employees, imparted by a team of domain experts, who continuously study tax amendments and disseminate the same to preparers and reviewers. Training is also imparted for use of specialized software used for service delivery.