“My passion is accounting and tax returns” – Miodrag Milic

“My passion is accounting and tax returns”.
Miodrag Milic, Accounting Manager of the Groupe Advensys Luxembourg S.A.

Hello Miodrag, how are you ? Could you present yourself?

Hello, my name is Milic Miodrag, I am 31 years old and I have been living in Luxembourg for more than 5 years. I was born in Serbia but grew up and spent all my childhood in Paris. Currently I work as an accountant in Groupe Advensys Luxembourg SA.

Why did you decide to become an accountant?

I love accounting on every point, plus at Groupe Advensys we have a very good team.

How were you recruited in Groupe Advensys?

I was recruited at Groupe Advensys by posting my CV on job search sites on the Internet, I was then contacted for an interview. It went well and I was hired for a few months on a trial period which ended with a permanent work contract.

What are your daily tasks?

On a daily basis, I take care of the accounting (accounting entry) as well as the tax returns and VAT declarations of various companies until the annual accounts are closed. I also realise payslips and necessary statements regarding wages near the common center of social security (CCSS).

What are the difficulties you can encounter in your work?

There are not many difficulties in accounting, I adapt easily to all types of companies. But if clients give us their documents too late for accounting, it can be difficult to complete the balance sheet on time, so we must speed up all the procedures in a short time and without errors.

How did you experience the health crisis (Covid19 ) in your work?

It went well, we’ve organised ourselves to make sure that everything goes well for the entire team and for our clients to get the best possible service in this situation too.

What is the most outstanding work (operation at work) that you have done? Why?

It is always difficult to resume an accounting that has already been started by another firm. For my part, we have succeeded in reducing taxes and debts on various companies following the resumption of their accounting, either by finding errors or omissions in the entry, or by offering the client accounting solutions in order to reduce their taxes.

As an accountant, what’s the biggest lesson you’ve learned over time?

Always keep up with the updates of new laws and changes in taxation. Without the client’s approval, never do administrative procedures or file statements, always have written proof from them.

As you come from France, how do you find Luxembourg?

If I have to compare France to Luxembourg, I would say that Luxembourg is a beautiful country, in addition to the tax advantages and you can say that you feel more safe here.

Do you find the Luxembourg tax system complicated?

Initially yes, but later after learning more about the system, I found that the Luxembourg tax system is quite simple, we no longer encounter a tax problem, plus the tax administrations are always there to help us understand better and move forward in our efforts.

Thank you for taking the time to answer my questions. Good luck in your career.

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5 Tips for choosing the perfect accounting firm for you

Choosing the right accountant is one of the most important decisions a small/medium business can make. A good one can save you time and help your business grow; a bad one could cost you much needed money and other problems. Yet with thousands to choose from, it can be a daunting call to make. So, when it comes to selecting and working with an accountant, what are the tips every business owner should follow so as to make the most informed choice?

1. Choose a professional

Obviously, you need to check the qualifications, you have to make sure that they are certified, it’s clear that you need a professional to do your finances. It could be good if they are members of some accounting organizations, associations. That they are active and have good professional reputation.

2. Trustworthy

You have to make sure if you trust them. Try to study some of the cases that they had, maybe even with the similar client’s type like you are (from the same business field). Observe how they communicate with you: are they confident or not, if their answers are based on law, practical cases or just personal thoughts, guesses, or no clear answers at all.
You should be comfortable with them. You need to be aware that it is a stranger that will have all your personal information and be responsible for your funds. Be curious in getting information about your future accounting firm, check their network profiles (Facebook, LinkedIn etc.)

3. Check for testimonials

Make sure that they have the experience and ability to break down complex information and explain it in a way you understand by seeing what other people say about them. Go to their website or social media, there surely will be feedback from clients, hopefully it will be positive. You can also ask them to provide you with the real contacts of existing clients (links for them) to contact them and ask their feedback, opinion. Be critical if you see only perfect feedback that is published once and at the same time.

4. Dedicated

Check if they are serious about their clients and doing their job. A good accounting firm will ask you about all the details and everything they need in order to do the best job that they can. For example, will they contact you immediately if there is a problem or will they just ignore it because they don’t want to be bothered with it. If there is something that isn’t making sense to them in the balance sheet, they should call you so that they can solve the problem the right way. In case of any control (tax control), they have to immediately help you with the assistance.

5. Get someone who’s proactive about saving you money

Some accountants will do little more than manage your accounts and complete your tax return forms, but the best accountants are more proactive. So before choosing an accountant, ask what they could suggest, to save your business money.
For example, what proportion of your operating costs do they think you can offset against tax? If you're a sole trader or consultant, can you offset a percentage of your phone bill, car costs, maybe even rent or mortgage payments? What are the implications of doing so? The accountant should warn you of any pitfalls. For example, using your home as business premises could result in a tax charge levied on the house when you sell it!
Always bear in mind that in most countries there is a big difference between tax avoidance (usually legal) and tax evasion (usually illegal). You need an accountant who knows the details of tax law so well that they'll save you money in legal ways, but not one who takes things too far and risks causing your business to operate illegally.
Be very careful about this, because ultimately, it's you, the business owner, who'll pay the penalty if the law is broken.

Good accountants will help your company grow.
If all of this sounds more like a marriage than a business relationship, there's a good reason for that! Your accountant will become intimately involved with the operation of your company so it’s not a decision to be taken lightly. You will need one you can trust, who has the necessary experience and who will be there when you need them.
Good accountants help companies grow, by managing complex financial work and offering advice on practical business issues. This will be guaranteed to save you money in the short and long term. The best ones will be your partner in all but name – and as long as you choose wisely, you can’t go wrong.

And if you need a good accountant company for your business in Luxembourg and France,just consider studying more about Advensys Conseil.

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