Accounting for data scientist

Accounting for the Data Scientist: A Data Scientist is a specialist responsible for analysing and interpreting large datasets to derive valuable business insights. The work of Data Scientists involves collecting, processing and modelling data, as well as creating predictive algorithms.

Activities performed by a Data Scientist:

  • Collecting and processing data: Collecting data from various sources and preparing it for analysis.
  • Data analysis: Using analytical and statistical tools to analyse the data.
  • Predictive modelling: Creating and testing predictive models and machine learning algorithms.
  • Data visualisation: Presenting analysis results graphically, creating dashboards and reports.
  • Collaboration with business teams: Working with stakeholders to understand their needs and provide analytical solutions.

Specific accounting aspects for the Data Scientist:

  • Legal analysis of contracts: We employ legal counsel in our office, which allows us to offer comprehensive legal analysis of service contracts. This is crucial for Data Scientists, who often work on the basis of B2B contracts.
  • Tax optimisation: a Data Scientist can benefit from a preferential flat rate on income of 8.5%. This significantly reduces tax liabilities and promotes efficient financial management.
  • Cost records: We keep accurate records of the costs associated with Data Scientist’s activities, including costs associated with the purchase of analytical tools, software and training.

Our strengths:

Experience: We have extensive experience in dealing with Data Scientists and IT companies, which allows us to support our clients effectively.

Knowledge of regulations: We are up to date with current tax and legal regulations, which guarantees professional advice and risk minimisation.

Multilingual team: we offer support in English, Russian and Ukrainian, which is particularly important for Data Scientists working with foreign clients.

Individual approach: We provide each client with an individual approach, tailored to their specific needs and requirements, which allows us to maximise the available tax benefits and optimise costs.

Tax advice: as tax advisors, we are qualified to advise on the choice of the correct flat rate on income.

Our accounting office offers comprehensive accounting and advisory services for Data Scientists. With our experience and expertise, Data Scientist can focus on analysing and interpreting data, confident that their finances and contracts are in good hands.