Tax Expert

2022-05-05 - 04:01

Tax Experts help businesses manage risk, meet regulatory requirements, and reach their strategic objectives. From tax reporting to the transformation of tax functions, tax experts help to foster innovative ideas and technologies to develop the future tax function.
Tax Experts use their knowledge of tax legislation to provide consulting services to clients, ensuring that they are paying their taxes the most efficiently and benefit from any tax advantage and tax exemption. They must be in step with time about changes in tax laws and explain in simple terms complicated legislation and its implications to their clients.

Tax Experts benefit from the following skills and you are able to:

  • Record transactions in bookkeeping books;
  • Prepare the basic financial statements under IFRSs and IFRSs for SMEs;
  • Harmonize cash book with bank statements;
  • Make adjustments in accounting and correct errors;
  • Identify business entities and their need for financial reporting;
  • Analyze and interpret the financial statements;
  • Explain the compliance of accounting with national taxes and fulfillment of requirements;
  • Prepare forms of tax declarations for individuals and organizations in accordance with local legislation requirements (WM / CM / WR, QL / QS, IL / IS, PD / CD, etc.);
  • Make the difference between tax planning and tax evasion;
  • Interpret and apply all applicable laws and administrative instructions in force in Kosovo.

A candidate who successfully completes all subjects and meets requirements such as: university education, professional education and practical experience, gains the designation  "Tax Expert"

SCAAK members may acquire the title by fulfilling the following conditions:
Accounting Technician - will earn the designation “Tax Expert” after following the lectures and passing the exam in the subject "P5 - Financial Reporting"
Certified Accountant and Certified Auditor - will earn the designation “Tax Expert”
Certified Internal Auditor - Exempted only from the subject ”T1- Basics of Accounting and Financial Reporting”
Public Sector Certified Auditor - will earn the designation “Tax Expert” after following the lectures and passing the exam on the subject "P5 - Financial Reporting"

Entry Requirements

  • A university Bachelors Degree
  • 12 months of experience in accounting, taxation or auditing to win the designation “Tax Expert”- which can be gained during or after training.

Specialization requirements

  • University education: candidates must have at least a university Bachelors Degree.
  • Professional education: candidates must have had attended the professional training of this program and passed all relevant exams.
  • Practical experience: candidates must have at least 12 months of experience in accounting, taxation or auditing to win the designation  “Tax Expert”
  • Code of Ethics: candidates must comply with the IFAC Code of Ethics requirements.

Syllabus for Tax Experts

T1 - Basics of Accounting and Financial Reporting
Part I
  • Introduction to Accounting;
  • Regulatory framework;
  • Accounting Conventions;
  • Use of dual inputs and accounting systems;
  • Sources, records, and initial entry books;
  • Accounting bookkeeping and double entry;
  • Confirmation balance;
  • Value Added Tax / Sales Tax;
  • Stocks;
  • Non - circulating property;
  • Unincorporated non - circulating assets;
  • Acres and prepayments;
  • Unclaimed debts and allowances;
  • Provisions and contingencies;
  • Prepare a confirmatory balance sheet;
  • Check accounts;
  • Bank Harmonizations;
  • Correction of errors;
  • Conceptual framework.
Part II
  • Presentation of  published financial statements;
  • Non-circulating assets;
  • Intangible assets;
  • Loss of assets;
  • Reporting financial performance;
  • Stocks and construction contracts;
  • Provisions, Contingent Assets and Liabilities;
  • Financial assets and liabilities;
  • Legal Accounting Opportunity vs. Commercial Accounting;
  • Leases;
  • Tax Accounting;
  • Earnings per share;
  • Cash Flow Statement;
  • Analysis and interpretation of financial statements;
  • Non-profit and public sector entities;
  • IFRS for SMEs.
T2 - Laws and Taxes in Kosovo BRIEF CONTENT DESCRIPTION 
  • Tax system;
  • International Accounting Regulatory Framework;
  • Law on Business Associations;
  • Financial Reporting, Auditing and Accounting in Kosovo;
  • Tax Procedures and Tax System in Kosovo;
  • Corporate Income Tax;
  • Personal Income Tax;
  • Value added tax;
  • Excise tax rate in Kosovo;
  • Pensions in Kosovo;
  • Labor Law in Kosovo;
  • Liquidation and reorganization of legal entities in bankruptcy;
  • Law on the pledge;
  • The law on mortgage;
  • Copyright and Patents.
T3 - Financial Statement Analysis BRIEF CONTENT DESCRIPTION 
  • Sources of information and the role of regulations;
  • The main categories of coefficients;
  • Profit - flow and return on equity;
  • Liquidity and working capital;
  • Ability to pay debts in the long run: debt and financial leverage;
  • Shareholder investment coefficients.