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Empowering Young Tax Professionals: AGS Tax Practical Training

In the fast-paced world of taxation and accounting, staying ahead requires not just knowledge but also practical skills. Recognizing this need, AGS Group, headquartered in Chiyoda, Tokyo, has launched an innovative training program called `AGS Practical Tax Training`. This initiative aims to cultivate the expertise of young tax professionals, particularly in corporate tax and consumption tax.

Background of AGS Tax Practical Training

AGS Group has strategically designed this training program in collaboration with Ohara Publishing Inc., a well-known provider of tax education in Japan. Running from May to July, the training consisted of 26 sessions that covered critical aspects of tax law, ensuring participants understood legal texts, practical application, and nuances of tax filing.

Members of AGS typically go through a learning process where they absorb essential knowledge through on-the-job training (OJT) after obtaining background information about the company's philosophy, organizational structure, and service offerings. Many are aspiring tax professionals working towards success in the tax examination; for the 2024 tax exam, 50 candidates from AGS took the test, leading to a noteworthy pass rate of 30%.

The objective of the training is clear: to empower new hires with practical skills that enable them to engage effectively in tax consulting at an early stage in their careers.

Curriculum Structure and Implementation

In a bid to deliver a well-rounded educational experience, AGS devised a unique curriculum focusing on three key elements:
1. Understanding legal texts.
2. Practical filing of tax returns.
3. Application of learned concepts to real-world scenarios.

Over the course of the program, 25 members across 10 business divisions actively participated, demonstrating an industry commitment to nurturing talent within the organization.

Feedback from Participants

The impact of the training was evident through the positive feedback gathered from participants in post-training surveys. Many expressed that the hands-on insights from instructors provided a realistic backdrop for understanding the intricacies of future tax responsibilities.

Several attendees noted a marked improvement in their understanding of theoretical concepts, emphasizing the importance of connecting study material with practical implementations. One participant, who had previously only memorized tax code, found the approach of learning both theory and application simultaneously to be particularly beneficial.

Moreover, the curriculum provided insights into tax implications relevant to M&A activities, prompting attendees to further their studies in taxation intricacies.

AGS's Commitment to Continual Learning

At AGS, training extends beyond the initial phases of a career. Comprehensive induction programs for new recruits occur each April and September, succinctly blending theoretical knowledge with practical application. Additionally, monthly short training sessions and weekly Financial Service Retainer (FSR) meetings allow the sharing of the latest industry trends and tax education among numerous participants.

In 2025, AGS plans to further strengthen its commitment to training by establishing a `MS Talent Development Department`, specifically targeting young professionals engaged in tax consultancy.

Addressing the Future Needs of Tax Professionals

There are growing concerns regarding the potential of AI to replace human tax professionals. Nonetheless, AGS asserts that the vital role of tax consultants lies in their ability to provide insightful management advice through close communication with business owners. As the complexity of taxation continues to evolve, particularly in the context of new government initiatives aimed at fostering youth entrepreneurship, it is essential for the next generation of tax professionals to be prepared.

The loosening of examination qualification requirements has resulted in a significant increase in young candidates—31.8% more than last year—highlighting the need for robust support systems for aspiring tax specialists.

AGS remains dedicated to providing not only academic frameworks but also practical experiences and economic assistance to encourage the growth of young tax professionals.

About Ohara Publishing Inc.

Ohara Publishing Inc. is a prominent educational institution offering courses and resources for aspiring tax professionals and corporations alike. Their commitment to excellence ensures well-designed training materials that meet the changing needs of the market.

For further details, explore their offerings at their official website: Ohara.

AGS Group's Vision

As Japan’s first independent comprehensive accounting firm, AGS Group strives to be the most accessible expert for over 4,100 corporations and 1,900 individuals ranging from startups to publicly traded companies. With a focus on growing business acumen within Japan's economy, AGS continues to refine its educational programs to foster innovation and expert insight in tax consultancy.

For more information about AGS Group and its services, visit AGS Group.