5 lifehacks to optimize costs of the average IT company.

5 lifehacks to optimize costs of the average IT company.

  1. Opening of the office in a low tax country.

Efficient costs optimizer. Simplified taxation in some countries can significantly reduce and simplify the payment of taxes. Also, it is an opportunity to be “closer to the customer”, if an IT company is heading to European market, office in Europe is a necessary thing, as this gives confidence to foreign customers and sets the company from the competition.

  1. Usage of legal outsourcing.

There is no need to keep the state attorney, much easier to hire specialist when situation demands, and sector-specific specialist whose direction is the IT sphere.

  1. Rent a foreign company.

Perfect variant for occasional transactions with foreign partners, when the financial turnover of the company is not big, and there’s no need in opening of foreign offices.

  1. Hiring of foreign current account.

Due to the nature of the domestic taxation, foreign customers can be quite difficult to pay for services of Ukrainian contractors. To solve this problem, there is a rental service of the foreign current account.

  1. “Out of office” accounting.

This service will fully protect documentation and eliminate the problems with financial reporting, and also relieve from the necessity to deal with government institutions.

«Lab Consulting» company provides free consultancy to owners of medium and large IT companies. During the consultation you will learn what kind of optimization of current expenses is best suited specifically for your company.

Contact us: + 38 (048) 798 63 33 or send your request to info@lab-consult.com

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