TAXATION AND THE

ROLE OF
INTERMEDIARIES
Group Four

Tax Intermediaries: Defined

These are professionals (individual or firms) qualified in taxation
and they are charged with the role of providing advice to tax
paying entities with regard to their tax obligations(OECD). They
also assist in preparing tax returns
Professionals who help tax payers understand and comply with
tax regulations

The position of intermediaries in the tax

process
INTERMEDIARIES

TAX PAYERS

TAX AUTHORITIES

Examples of Tax intermediaries

Lawyers
Accountants
Investment Banks
Advisory agencies (PWC, Delloite and Touche, KPMG,
EY, etc) and Tax Consultants

Classical assignments of tax

intermediaries
Due diligence (Prior to acquisition or investiment)
May be a legal obligation but commonly voluntary

Tax compliance
Normally involves book keeping and filing tax returns
Can be done by accountant (May seek professional opinion)

Tax audit
Tax advisory services

Classical assignments of tax

intermediaries
Tax audit

Comprehensive investigation to inform the level of tax risk of

an entity
Helps identify exposure points

Tax advisory services

Tax recommendations to identify gray areas in regulations,

changes over tax regimes and past rulings in similar cases

Professional standards and legal

obligations of tax intermediaries
Three categories

Local standards
Regional standards (EAC, ECOWAS, EU)
International standards

Auditing standards (IFAC)

Accounting standards (ICPAU, IASB)
Tax regulations (Acts, Bye laws, decrees, policies
etc)

Thanks for listening

Siku Njema