Tax Accountant Salary: An In Depth Analysis

Tax Accountant Salary: An In-depth Analysis

In the complicated and ever-changing world of finance laws and tax regulations, tax accountants establish themselves as the stalwarts. These professionals play a critical role in both individuals and corporations, providing guidance on tax laws, ensuring compliance with these laws, suggesting strategies to minimize tax liabilities, and immensely helping with tax planning. However, the rewards that come with being a tax accountant are more than the satisfaction of a job well done. The financial benefits, particularly the annual salary, are a noteworthy aspect of this career.

The salary of a tax accountant often varies depending on a range of factors. These can encompass the accountant’s level of education, years of experience in the field, geographical location, industry, and even the specific company or firm they work for.

At the foundational level, tax accountants require at least a Bachelor’s degree in Accounting or a related field. Based on data from the Bureau of Labor Statistics (BLS), entry-level tax accountants in the US could expect an average yearly salary of around $50,000. Those with a Master’s degree in Accounting or Business Administration may command even higher starting salaries.

Experience significantly influences the salary scale for tax accountants. A professional with several years of experience can earn substantially more than those early in their career. For example, top-tier tax accountants with approximately ten years of experience or more can expect to earn over $100,000 annually.

Another significant factor in determining a tax accountant’s salary is the location. In areas with high living costs, salaries are adjusted to reflect the expensive lifestyle. Cities with a booming economy or financial hub present more lucrative opportunities for accountants. On the contrary, in regions where the cost of living is lower, the salaries for tax accountants can also be on the lesser side.

Industries and businesses also cause a shift in the salary landscape of tax accountants. Those employed in finance and insurance sectors tend to earn more than those in government or non-profit organizations. Additionally, large multinational corporations may offer higher salaries than small businesses or start-ups.

A special mention in this context would be companies that provide accounting and advisory services, like business consultants East Maitland. These firms offer top-notch salary packages to accountants due to the sophisticated and complex nature of their services. Furthermore, the role of tax accountants in such firms often extends beyond traditional accounting services, and they take on more strategic roles, advising businesses on growth, investments, and financial management, thereby escalating their salary brackets.

Certain certifications can also positively impact a tax accountant’s salary. For instance, becoming a Certified Public Accountant (CPA) or Certified Management Accountant (CMA) can open the doors to advanced job opportunities and higher pay.

To conclude, while the salary of a tax accountant can be influenced by many factors, on average, it provides a significant financial reward for the professionals in this field. This reward is likely to increase with more experience, additional education, and advanced certifications, presenting a lucrative career for those passionate about numbers, finance, and law.

Salient Features Of The Revised Norms Of Sebi (Securities And Exchange Board Of India)

Salient features of the revised norms of SEBI (Securities and Exchange Board of India)



Salient features of the revised norms of SEBI (Securities and Exchange Board of India) are as follows:

The requirements of the circular relating to the merger and amalgamation can be divided in to 2 parts:

? Requirements before the scheme is submitted for sanction of the High Court

? Requirement after the scheme is sanctioned by the High Court


Obligation of Listed companies/Stock exchange

1. Listed companies desirous of undertaking the scheme of arrangement under chapter V of the Companies Act shall file draft scheme with the stock exchange along with the following documents.

I. Valuation report from the Independent Charted accountant

II. Report from the audit committee recommending the scheme

III. Fairness of opinion by independent merchant banker

IV. Pre & post amalgamation shareholding pattern

V. Audited financial results of last 3 years

VI. Compliance with clause 49 of listing agreement

VII. Complaints report in prescribe manner


And shall choose one of the Stock Exchanges as the designated stock exchange for the purpose of coordinating with SEBI. Designated Stock Exchange shall forward the same to SEBI within 3 working days.

2. Listed Companies shall place before its Audit Committee the valuation report obtained from the independent charted accountant and Audit Committee shall give a report recommending the scheme.

3. The stock exchanges shall process the draft scheme and shall forward objection and no objection letter to SEBI within 30 days of the receipt of the draft scheme from the listed Company or within 7 days of the receipt of the satisfactory reply on any clarification sought by Stock Exchanges from Company or Independent charted Accountant.

4. The stock Exchanges shall issue the observation letter to the listed company within 7 days of the receipt of the comments from the SEBI on draft scheme.

5. The listed company shall disclose the draft scheme and the documents as stated in point 1 on its website within 24 hour of filling the same with stock exchanges.

6. The stock exchanges shall also disclose on their websites aforesaid draft scheme and documents immediately on the receipt of the same.

7. Listed companies shall ensure that approval of the shareholders by way of special resolution for the scheme is obtained by postal ballot and e-voting and the scheme shall also provide that SR shall not be acted upon if it is not supported by minority shareholders by a majority of 2/3rd or more.

8. Condition to be satisfied by listed entity for claiming exemption from strict enforcement of rule 19 (2) (b) of securities contract regulation rules, listing of securities without making initial public offer:

i. Equity shares proposed to be allotted to by unlisted entity to the shareholders of listed entity shall be allotted pursuant to the scheme of arrangement sanctioned by the high court under section 391-394 of companies act, 1956.

ii. At least 25% of post scheme aid up share capital of the transferee company shall be held by the public shareholders of transferor entity.

iii. Transferee entity shall not issue any shares which are not covered under the scheme.

iv. There shall be no outstanding warrants/instrument entitle the holder thereof to take shares in the transferee company at any future date, if there exist any such instrument, the minimum shareholding as discussed above shall be calculated on expanded share capital assuming full conversion of the said instrument.

v. Shares transferred in lieu of locked in shares shall be under lock-in for remaining period.

Processing of the draft scheme by SEBI

SEBI shall process the draft scheme forwarded to it by stock exchanges and may sought clarification from any person relevant in this regard. SEBI shall make endeavors to provide its comments on the draft scheme to the stock exchanges within 30 days of the latter of following:

Date of receipt of satisfactory reply to the clarification sought by SEBI, if any.

1. Date of receipt of fairness of opinion from independent charted accountant sought by SEBI, if any.

2. Date of receipt of no objection/objection from the stock exchange.

Manner of Approval of scheme by Shareholders

Listed companies shall ensure that the approval of the shareholders by way of special resolution for sanction of scheme is obtained through postal ballot and e-voting. Besides the scheme also provide that special resolution shall be acted upon if it is supported by 2/3rd or more of the total minority shareholders.

Redressal of Complaints Pertaining to the Scheme

1. All the listed complaints received by the SEBI pertaining to the draft scheme shall be forwarded to the designated stock exchange for necessary action and resolution by listed Company.

2. Listed Company shall, within 7 days of the expiry of 21 days from the date of filling draft scheme with the stock exchanges, submit a complaint report to the stock exchanges prior to obtaining observation letter, containing prescribed particulars and shall send the said complaint report to the shareholders along with the notice sent to the shareholders for seeking their approval for proposed scheme of Compromises and arrangement.

3. The stock exchange shall forward the Complaint Report to the SEBI before the issuance of comments by SEBI.


1. After the scheme is sanctioned by the Hon ble high court the listed Company shall Submitted the following Documents with the stock exchange.

I. Copy of the order of high court approving the scheme.

II. Result of the voting by shareholders approving the scheme.

III. Statement explaining the changes, if any and the reason thereof.

IV. Status of the compliance with the observation letter.

V. Application seeking the exemption from the strict enforcement of Rule 19 (2) (b) of securities Contracts (Regulation) Rules.

VI. Complaint Report.

2. The Designated stock exchange shall forward its recommendations to the SEBI on the aforesaid document and SEBI shall make all reasonable efforts to give its comments/approval within 30 days thereafter.

3. An unlisted issuer may make an application to the board through stock exchange claiming exemption from the strict enforcement of rule 19 (2) (b) of securities contract regulation rules if it satisfies the following condition:

I. Observation letter has been issued by stock exchanges

II. Listing of the equity shares is in terms schemes sanctioned by the High court.

III. Shares have been allotted by the unlisted issuer to the shareholders listed entity and share certificate has been dispatched or the names of allottees have been entered in the records of depositories.

4. The formalities for commencing trading shall be completed within 45 days of the order of the High court and transferee company shall give an advertisement containing the prescribed information about the transferee company in 1 English, 1 Hindi newspaper having nationwide circulation and in 1 regional language newspaper having wide circulation at a place where registered office of transferee entity is situated.

The author of this article writes for RSJ Capital Ventures Pvt Ltd. RSJ Capital Ventures Pvt Ltd has been in the business of corporate compliance,

SEBI Consultant

, BSE Consultant etc. for over 6 years. For more information on SEBI Consultant,

company secretary

visit the website.

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