Accounting Packages

Accounting Packages

We offer flexible accounting services adapted to specific requirements of our clients. The costs are dependent on the size and natures of client’s company, the volume of monthly turnover and number of transactions to be recorded per month. Our services include:

VAT & Foreign Contractor Tax

Preparing tax returns and handling payments

Social Fund

Social contributions on the employee’s salaries

Reporting Compliance

Issuance of accounting and financial documents

Bookkeeping

Production of monthly financial statements

Payroll Management

Payroll calculation and creation of pay slips

Annual Audit

Creation of reports and filing corporate tax return

Accounting Packages

Monthly Services

Monthly Tax Management

a) Monthly Corporate Withholding Tax Returns
  • Filing employment income, dividends, interests, royalties, and technical service fees
  • Preparation of Corporate Withholding tax returns form
  • Handling payment with State Treasury within the 20th of following month
b) Monthly Value Added Tax Returns (VAT)
  • The calculation of the VAT debits and credits that will have to be done on a monthly basis
  • Preparation of Value added tax (VAT) returns form
  • Handling payment with State Treasury within the 20th of following month
  • Maintenance of monthly VAT input and output records
c) Foreign Contractor Tax Returns (FCT)
  • Preparation of Foreign contractor tax (FCT) form and submission to Tax Authority by 10 days after payment
  • Handling payment with State Treasury by the end of month of submission
d) Other Tax Compliance
  • Preparation of annual Business registration tax (BRT) form
  • Handling BRT payment with State Treasury within the 30th of following year
  • Report on Use of invoice
  • Related party transaction

Monthly Bookkeeping

Production of monthly financial statements:
  • Profit and Loss Statement listing revenue and detailing expenses
  • Balance Sheet showing assets and liabilities
  • Trial balance
  • General ledger
  • Bank reconciliation

Payroll Services

a) Payroll Calculation
  • Payroll calculation of withholding income tax, social fund contributions, deductions and allowances, and other benefits
  • Creation of monthly carbon pay slips
  • Payroll report to submit to the bank
b) Social Fund Registration and Return
  • Social contributions on the employees’ salaries have to be paid each month
  • Preparation of Social and Health insurance declarations
  • Handling payment to the Social Fund Office by the end of following month
  • Obtainment Social booklets and health insurance cards
  • Claiming payments of compulsory insurance for employees
c) Labour Compliance
  • Preparation of employment contract
  • Labour registration
  • Preparation of statutory labour reports

Filing and Compliance

Issuance of Accounting and financial documents related to the company:
  • Assistance with invoicing
  • Withholding tax certificate
  • Payment voucher

Reports to HCMC Statistics

  • Maintenance the financial status, offshore payment and receipts, employment hiring and income, investment activities
  • Preparation of statutory reports (Month, quarter, six-month and year reports)
  • Advising the effective submission deadline

Annual Auditing & Reporting Services

Annual Corporate Tax Return

This return must be filed within 90 days of the following year. Preparation and filing of Financial Statements, Corporate Income Tax returns to Tax Department, Statistics Department, Department of Business Development and Finance Department.

Annual Personal Income Tax Return

Taxpayer is liable to file Personal Income Tax return and make a payment to State Treasury within 90 days of the following year. Any withholding tax which has been paid to the State Treasury can be used as a credit against the tax liability at the end of the year.

Can We Help?

Our legal and accounting professionals are ready to discuss your business needs, and answer any questions you may have.