Catarina Da Silva «We are a 360° group that advises in all fields of business»
CATARINA DA SILVA, ACCOUNTING MANAGER AT AUGé ACCOUNTANTS, S.L.U.
Catarina Da Silva has a degree in business administration and management and has been working at Augé Holding Group, S.A.U., for over four years. He currently holds the position of Accounting Manager at Augé Accountants, S.L.U., an operating subsidiary of the Augé Holding Group. He talks to us about the characteristics of accounting in Andorra and explains why it is so important that entrepreneurs choose a corporation that has qualified lawyers, tax accountants, economists and accountants. That´s how Augé Holding Group works.
—How does the subsidiary of Augé Holding Group Accountants work?
—Augé Holding Group has a subsidiary company, Augé Accountants, consists of eight direct hired professionals and other indirect professionals. Our professionals work with a portfolio of companies, but also with individuals (entrepreneurs or professionals). We guide our clients from the very beginning of the company’s creation, through all of its ongoing operations, right up to the liquidation of the companies. We comply with all accounting, tax and labour obligations arising from business operations.
Our distinctive feature is that we rely on all team members to provide clients with comprehensive advice: we have a largeteamoflawyers,economists, tax experts, immigration consultants, patent attorneys and estate real agents who can complement the consultation for our clients.
—Does quality service mean fast service?
—Quality service is almost
never fast. Organisation is very important,andwearehappytosay that accounting closure months, such as July, are absolutely acceptable in terms of workload at Augé Accountants, as we start working towards this objective from January. It must be said, as well, that accounting is a subject that is strongly influenced by
Andorran labour law. There are many companies and individuals who provide these services without having professional or legal technical qualifications. This also leads to the fact that competition can offer lower prices that could never be offered within a consolidated structure, which can be detrimental as
the client falls into the hands of unqualified professionals who can put him/her in a difficult situation.
—What is the difference between Augé Accountants and its competitors?
—The main difference is that we are a group offering 360 degree services. In our house, each client finds absolutely everything he needs to settle in the country with dignity and ensure continuity of their stay and business development. We offer services at both the professional and family level (e.g., immigration and family reunification services, real estate services for comfortable living in the Principality), as well as services at the corporate and legal level (e.g. establishment and setting up of companies) and at the level of accounting, tax and labour support related to the obligations of each new resident or company. Finally, every person settling in the country needs a consultant for each of the cases described. And we have all the necessary advice to share with the new resident on all of the above issues.
—What advice would you give to yourpotentialclientsonoptimising accounting and tax services?
—The best advice is to get into the hands of qualified professionals. There is a problem in Andorra: accounting and tax services are provided by companies whose employees do not have a degree in economics or ADE or employment services and are not registered as qualified lawyers. Therefore, the relevant types of services can be provided without real guarantees of compliance with the applicable rules, which can seriously harm the taxpaye; i.e. a client.
On the other hand, when qualified specialists work as a united team, accounting optimisation comes through good fiscal optimisation, which should be defined when the structure is set up. In other words, optimisation is only achieved through correct planning.
—To be a good accountant, you need to stay up to date. Don’t you agree?
—Absolutely. There are constant changes, as we have just seen with the rate on foreign real estate investment, at the CASS level, at the corporate tax level, personal income tax, municipal taxes, etc. A good professional must constantly upgrade his/her skills in order to always offer the best service in accordance with current regulations.
—Yes, it is indeed important to keep up to date with changes in legislation. Many self-employed people have suffered from CASS inspections regarding the percentage of contributions after the change of legislation, because they were not informed in time about the change and kept paying the reduced contribution, although they were obliged by law to pay 100% of the quota. What would you recommend to those affected? Who is responsible? The self-employed? Their consultants? Or the CASS, who had to notify the company of 100% payments from 2019, which is when the law came into force?
—It is true that, for a few months, the CASS had been inspecting all the self-employed entrepreneurs who had not updated their contribution base since in 2019 - the year the new standard came into force.
The corresponding contributions are the responsibility of each entrepreneur and he must always assume full responsibility to the Administration.
However, to avoid this type of incident, it is essential to surround yourself with qualified professionals who are always up-to-date with the changes in criteria and regulations that the administration regularly communicates regarding the CASS and all others that may be applicable.
«We have a large team of lawyers, economists, tax experts, immigration consultants, patent and real estate agents»
—How can the use of artificial intelligence help your profession?
—The use of artificial intelligence and technology can benefit us immensely on a practical level when performing the most repetitive and mechanical tasks. However, we must always have the human capital to stay on top of the rules and apply them correctly when fulfilling our clients’ financial and accounting obligations. Finally, I believe we are a long way from AI being able to replace a highly skilled professional, as it cannot reflect every possible practical application of regulatory updates.
—What changes can we expect this year here in Andorra?
—We have started 2024 with significant changes at the level of the calculation of the selfemployed’s contribution base. This is the first fiscal year that will be governed by changes affecting corporate tax. And, finally, this is the first year in which all individuals operating as an independent professional will be required to submit annual accounts derived from accounting records when filing their 2024 income tax return..