Question

Topic: Advertising/PR

Promotion Of Income Tax Services

Posted by zulfiqar.abbas.slic on 11/29/2017 at 3:11 AM ET 250 Points
Hi.! I am professional accountant and “Income Tax Practitioner”. There is a vast market of potential clients who are agents of Insurance Companies who sale insurance policies on commission. They are geographically dispersed. As per Tax Laws of time being, income tax is withheld by insurance companies on payment of commission to insurance agents @ 16% for non-filers of income tax returns and @ 8% for filers of income tax returns. Filing of income tax returns is a complicated process and needs expert’s service which I can provide them at a reasonable professional fee and I face no competition. But they are reluctant to file returns to avoid legal formalities, notices from tax department and demand of extra tax from department, which is just their fear and nothing else.
My question is that how to persuade them to avail my services to make them filer of income tax returns and get benefit of lower rate of withholding tax?

Thanks.
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RESPONSES

  • Posted by Mike Steffes on 11/29/2017 at 8:41 AM Accepted
    You have to SHOW them that your service will provide them with financial benefits. Show them exactly how will the lower rate will benefit them. If it actually will benefit them, there must be a way to prove it.
    The details are up to you and the rules...but persuading them to use your services requires you to prove the benefits. The 16% to 8% issue is a feature, it is not a benefit.
  • Posted by Jay Hamilton-Roth on 11/29/2017 at 9:00 AM Accepted
    If you've done this with clients already, then develop case studies proving what you say is true.
  • Posted by Peter (henna gaijin) on 11/29/2017 at 10:05 AM Accepted
    In many countries, filing taxes is a requirement by the government, and the government will penalize those who do not. Is this not the case in your country? if it is the case one approach to bring is that your service will prevent them from having this penalization.

    If not the case, as Mike and Jay said, showing how you would save them time or money by using you services through making up a case study showing how it helped prior clients will help you be able to promote your services.
  • Posted by mgoodman on 11/29/2017 at 1:31 PM Accepted
    Can you indemnify clients against any legitimate "legal formalities, notices from tax department and demand of extra tax from department?" You can address their concerns head-on by saying you will cover the cost of claims for specified items, if there are any.

    You can even draw up a formal document assuring them that you stand behind your claims that they will save money without fear or hassle (or you will reimburse the cost of same).
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