We offer flexible accounting services adapted to the specific requirements of our clients. Accounting costs are based on the size and nature of the client’s company, the volume of monthly turnover and number of transactions to be recorded. Our services include:
Start Ups SMEs Enterprises Withholding Tax Withholding Tax Withholding Tax Value Added Tax Value Added Tax Value Added Tax Social Fund (4 employees) Social Fund (12 Employees) Social Fund (24 Employees) Filing and Compliance Filing and Compliance Filing and Compliance 25 Transactions 50 Transactions 150 Transactions Quickbooks Bookkeeping Quickbooks Bookkeeping Payroll Management
Monthly Tax Management
A) Monthly Corporate Withholding Tax Returns (PND 1, PND 3, PND 53, PND 54)
- Filing employment income, dividends, interests, royalties, and technical service fees
- Preparation of Corporate Withholding tax returns form
- Handling payment with revenue department within the 7th of following month
B) Monthly Value Added Tax Returns (VAT) (Por Por 30)
- 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 revenue department within the 15th of following month
- Maintenance of monthly VAT input and output records
C) Social Fund Registration and Return (Sor Por Sor 1-10)
- Social contributions on the employees salaries have to be paid each month
- Company Annual Fund contributions need be submitted at the end of each year
- Handling payment to the Social Fund Office by the 25th of following month
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 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
Cash Management (Escrow Account)
- Settlement and receipt of payments from client’s suppliers or customers
- Release of payment upon client’s approval
- Presentation of cash report
- Easy, fast and reliable service
Filling and Compliance
Issuance of Accounting and financial documents related to the company
- Invoice/tax invoice
- Withholding tax certificate
- Payment voucher
Annual Auditing & Reporting Services
Annual Corporate Tax return (Annual Audit, PND 50)
This return must be filed within 150 days of the closing of the accounting period (balance sheet date). Preparation and filing of Summary Financial Report form (SBC 3), Summary of Annual Salary (PND 1 Kor), Workmen’s Compensation, and Corporate Income Tax Returns (PND 50) to Revenue Department, Social Fund Office, and Department of Business Development.
Personal Income Tax return (PND 90, 91, 94)
Taxpayer is liable to file Personal Income Tax return and make a payment to the Revenue Department by the last day of March following the taxable year. Any withholding tax which has been paid to the Revenue Department can be used as a credit against the tax liability at the end of the year.
Half-Year Corporate Earnings Assessment (PND 51)
The half-year report must be filed within sixty days of the end of the half year period. The taxable income is calculated as one-half of the estimated profit for the full year.
Annual Withholding Tax Returns for Wages to Employees (PND 1 Kor)
This form summarizes the details of employment, namely wage payments and tax withholdings for the entire year, and must be reported to the Revenue Department within February of the following year.
Cash Management (Escrow Account)
The form “Kor Tor 26 Kor” is used by the Social Security Office to estimate Workmen’s Compensation Fund contributions for the following year. Social security officials estimate the amount due based on previous years salaries and the payment is due by the end January.
The form “Kor Tor 20 Kor” is used to compare the figures estimated on the previous Kor 26 form with the actual figures, to determine the amount of any underpayment or overpayment and any outstanding amount to be paid or refunded.