Fully package tax compliance services businesses

Currently, for small companies and newly established companies, they often tend to consider package accounting services as an expensive and additional budget solution. But many companies still do not know what a full-service accounting service is and how it works. The following article will answer those questions, help you choose the right tax compliance services package for your enterprise. S4B believes it will benefit you a lot in your decision making process.

Latest information about package tax compliance services to serve your company

1.  Overall information in the package accounting service from S4B

1.1 About tax compliance services

1.1.1 Check the business license

Tax compliance is a critical aspect of running a business, and S4B’s comprehensive range of services is designed to assist you every step of the way. We begin by meticulously checking your business license to ensure its validity and compliance with regulations. Our experienced team then initiates the tax filing process by preparing the necessary documents and creating the initial tax file.

1.1.2 License tax

License tax requirements can be complex, but with our guidance, you can navigate them with ease. We ensure that your license tax submissions are accurate and submitted in a timely manner. Moreover, we keep you informed of any new tax applications or changes in tax regulations through regular notifications.
1.1.3 Advice on how to write invoices and set up an internal control system

In addition to tax compliance services, we provide valuable advice on how to write invoices and establish an effective internal control system. We meticulously review invoices and financial records to ensure accuracy and compliance. Furthermore, we assist you in adhering to tax payment regulations, ensuring that you meet all obligations promptly.

1.1.4 Print books

As part of our commitment to providing comprehensive tax services, we offer assistance in printing books that are essential for record-keeping purposes. These books are securely stored and provided to your business for year-end reporting and submission to relevant state agencies.

1.1.5 Support in tax inspection

In the event of a tax inspection, our team stands by your side, ready to provide explanations and support.

1.2 About accounting

Accounting (or in other words, bookkeeping) includes tasks such as maintaining general ledgers, recording journal entries, reconciling bank statements, and tracking accounts payable and receivable. Proper bookkeeping also facilitates compliance with accounting standards and regulatory requirements. It establishes a solid foundation by accurately recording and organizing financial data, ensuring compliance, and enabling the generation of informative and reliable financial statements.

2. Expectations from a package tax compliance service

2.1.  Prepare invoice reports

Tax providers prepare invoice reports, including issuance notices, invoice usage status reports, and reports on damaged invoices. We also handle other procedures related to invoice risks or damages, ensuring compliance with invoice regulations and minimizing potential issues.

2.2 Making tax declarations, tax reports

Our team is experienced in making tax declarations and reports, such as VAT declarations, personal income tax (PIT), corporate income tax (CIT), and other applicable taxes like contractor tax and excise tax. We follow the specific declaration forms, such as 01/GTGT or 04/GTGT for VAT, 02/KK-TNCN or 05/KK-TNCN for PIT, and 03/TNDN with the relevant appendices for CIT. VAT is reported on a monthly or quarterly basis, while PIT is reported when incurred on a monthly or quarterly basis. Finally, CIT is prepared at the end of each fiscal year.

 Accurate tax compliance services are essential and maintain business operations of company

2.3 Prepare financial statements

Tax compliance services prepare financial statements based on the results of the bookkeeping process, providing a comprehensive view of the company’s financial performance and position. These statements adhere to accounting principles and regulations.

When necessary, tax outsourcing services will handle written responses, transactions, explanations, or direct interactions with tax authorities. This includes addressing requests or resolving issues related to the aforementioned services. Furthermore, we assist in drafting and implementing procedures for issuing additional invoices, registering property, labor, and salary, ensuring compliance with relevant regulations.

By providing these services, tax services – S4B ensure that our clients meet their accounting and tax obligations, minimize risks, and maintain compliance with relevant regulations, allowing them to focus on their core business operations.

3.  Things to clarify when using a package accounting service

3.1 Explain/Respond to tax authorities

In case of any tax-related inquiries or transactions, the service provider will provide explanations or respond to tax authorities on behalf of the business. In the event of a tax inspection, the service provider will assist in providing necessary explanations and data. Additional fees may be applicable for this service, beyond the contract fee.

3.2 Consulting, compiling, and completing tax accounting documents

The service provider of tax compliance services will provide expert advice, compile necessary documents, and ensure completion of all tax accounting requirements as mandated by law. The service provider should be required to promptly report monthly or quarterly by email on various items, such as the status of VAT (deductible or payable), total revenue/taxable income, total eligible expenses, and expected CIT value for the period, along with proposed solutions for the next period.

S4B Vietnam

• • Address: Unit 602A, Tower A, Handi Resco Office Building. 521 Kim Ma Street, Ba Dinh District, Hanoi
• Tel: + 84 24 3974 4181
• Email: service@s4b.com.vn

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