Regarding the current trends in the German tax market, Hohl goes on to explain the developments that have occurred in recent years. “The tax consultancy market is in a consolidation phase because as a result of legal requirements and quality standards the smaller tax consulting firms are no longer able to generate sufficient profits and are thus no longer attractive employers. Digitalization and automation require high technical standards and internationalization requires cross-border cooperation (networks or cooperation)” he reveals.
Europe will continue to evolve into a central market so that consulting services will no longer be limited to the borders as we know them today, Hohl says responding to a question on how recent economic issues in Europe have affected you’re his business. Having said this, do opportunities exist for overseas investors looking to move into the Germany? What advice and support can FRTG give investors looking to move into the market? “By virtue of our network we are able to inform our clients concerning the market, legal issues and taxation legislation as well as to provide complete support with the founding of a branch, office or a subsidiary, often through a company 'in stock'” he explains.
“We offer office services and, as a result, comprehensive support in becoming established in the market, including bookkeeping, financial statement and tax return preparation as well as representing clients at taxation and other authorities” he adds.