14.12.2017

AI Magazine – TJP Austroexpert: Professional, Diligent and Experienced

TJP Austroexpert offers a wealth of experience and dedicated, professional staff in order to provide its clients with the very best tax advice and consultancy. Thomas Jungreithmeir provides us with an overview of the company as it is a Recognised Leader in Tax Advisory Services 2017 – Austria.

TJP Austroexpert is a versatile and adaptable tax consultancy, supporting a wide range of clients across the taxation and accounting market. The tax compliance practice concerns not just Austrian companies and private clients, but also groups of multinational companies respectively holdings as well as trusts. In order to support this array of clients, the firm places an emphasis on its cover-all tax advisory services granted to diplomats, expat managers and individuals.

Independently of its tax compliance practice, the firm also offer specialist strategic tax planning services. Being a member of the TJP Group, the team have strong experience across the acquisition market, including M&A, real estate deals, tax due diligence, tax valuation and private equity, and also in complex individual taxation questions, and both national and international restructuring.

Placing a firm emphasis on the client, Thomas outlines the firm’s overall mission and what steps the company takes in order to achieve, highlighting how ensuring client satisfaction is ingrained in the company ethos. “According to our credo, continuous tax advisory is more than performing book-keeping and pay-rolling; central to our role is keeping our clients informed about changes in the tax environment and about of optimization potentials.”

Featuring in the 2017 Global Excellence Awards as the Recognised Leaders in Tax Advisory Services 2017 in Austria, is a feature of the firm’s success and he tells us how it feels to have been selected in the awards.

“To be listed among the firms selected to be granted this award is a great honour for our company. This award is a wonderful way to show to our clients and workforce that our hard work is being appreciated internationally.”

A sign of a successful company is a productive working environment in which staff feel comfortable in their qualities and well-equipped to answer any queries clients may have. Ensuring staff are trained and well equipped to provide the best service, Thomas talks to us about the education employees receive as an integral part of the company culture.

“Importantly, the management of our firm relies upon a flat hierarchy, giving every employee the opportunity to be part of relevant business processes, thus enhancing their intrinsic motivation. A regular education of our workforce is an essential part to maintain the high level of excellence of our consultancy services.”

As well as ensuring staff are educated accordingly, there are many other techniques that the company employs, with Thomas highlighting the need to keep in contact with clients and understand their needs, helping the firm to exceed their expectations.

“In order to stay ahead of emerging developments, we follow a variety of strategies. An important way to stay up to date is that we always stay in close contact with our clients who are working in several fields of businesses. Also, we do not only maintain close contact to colleagues in the tax advisory business, thus observing our competitors but also in the field of legal and business consulting via our networks and regular contact with the tax authority.”

Regarding the specific challenges or outside influences affecting the tax markets, particularly in Austria, Thomas is keen to emphasise that experience and knowledge are vital to succeeding in the market, and this will only become more of a demand in the future. Luckily, TJP Austroexpert has a depth of expertise amongst its ranks.

“The tax advisory industry in Austria consists of classic tax advisory as well as auditing. There are about 2.000 registered tax consultancy offices in Austria, whereas about 20-25% of the annual total turnover is estimated to be incurred by the “big four.” The Austrian tax law system comprises a wide range of regulations, which are subject to regular and fast changes.

“Hence, people working in the industry are required to have a substantial expertise and the ability and willingness to adapt to changes in legislature and an overall working environment rapidly. Recent developments in digitalisation are expected to affect the industry cutting jobs by about 25-30% within the next ten years, particularly in the field of auditing and book- keeping.”

Ultimately, Thomas signs off by predicting what the future holds for TJP Austroexpert, citing staff’s attitude of demanding improvement as a key aspect of the company going forwards.

“Currently, we consult several complex M&A deals and cross-border tax reorganizations on, and we are constantly looking to build our expertise and portfolio of clients by taking on new projects.”