Tax accounting is an important and indispensable task of all businesses. However, this is not a simple task because of the complexity of books and numbers. Especially for newly established companies, the accountants don’t have much experience thus it’s very likely that they make mistakes in tax accounting that affects the business.
To help you focus more on the process of business development and production expansion, TinLaw provides all in accounting – tax consulting service, thanks to this, your business can own a professional accounting team with cheapest prices.
When do you need accounting – tax service?
- You are not sure which accounting firm that you can absolutely trust.
- Your business is just a small-sized firm or a medium-sized firm, and your monthly accounting task is not much, thus, you do not want to hire more staff.
- Current accountants of the company are not good enough to perform accounting works, formulate financial statements and they don’t have enough experience to declare taxes, to formulate financial statements and to give explanations in accordance with the law.
- You want to have a low cost all-in accounting service that brings high effectiveness to your company.
- You are concerned about tax issues and accounting books for your business.
- You want to look for a real accounting expert who can help you minimize your payable tax amounts.
- You need an independent firm to check and review accounting records, re-formulate financial statements accurately.
All your problems shall be solved most effectively when using our accounting – tax services.
Responsibilities of TinLaw’s accounting – tax service
- Working directly with the tax agency when there is arising tax.
- Checking and comparing the written exports dossier declaration
- Checking and comparing VAT invoices with the list of input and output taxes
- Monthly making a report on the company’s output VAT and classifying it based on tax rates
- Monitoring the situation of paying tax to the state budget, tax owed to the budget and tax refund of the company
- Combined with the general accounting to reconcile the tax reporting data of establishments between the statement and the settlement
- Monthly making a report on input VAT of the whole company according to deductible output allocation ratio
- Preparing incentive dossiers for new investment projects, registering new units or adjusting decrease as it arises
- Preparing tax refund dosiers when it arises
- Closing tax report documents of business locations and the entire company on a monthly basis
- Checking and reporting the situation of using tax invoices to report to the Tax Department
- Making a list of maintaining and protecting VAT invoices chronologically and based on ordinal number of books, avoiding losses and damages
- Making tax reports periodically or unexpectedly
- Updating and following the situation of using and exchanging invoices
- Observing the confidentiality regulation
- Checking and seeking unlawful invoices and notifying related business locations of them
- Timely updating new information and policies on tax law related to production and business activities of the company
- Checking and comparing records of receiving and returning goods to adjust revenue for prompt tax reporting when they arise
Sequence of accounting – tax works
Monthly: gathering, processing, arranging and saving invoices and accounting vouchers
- Collection: Collection of tax accounting invoices inside and outside the enterprise to serve as basis for declaration and accounting:
- In the enterprise there are output invoices including: sales invoice, service supply invoice
- Apart from the enterprise, there are invoices for purchase of goods and/or services serving production and business activities of the enterprise.
- Processing: Accounting – Tax service processes incorrect invoices to make them reasonable, valid and legal. When invoices are prepared improperly, if not timely processed, the business will be fined for the use of invoices. Cases of fire, loss, damage also need to be handled in time.
- Arranging: Invoices and vouchers can be arranged in different ways such as arranging in sets of invoices and vouchers, arranging invoices and vouchers chronologically, or arranging them in each file, it’s up to each accountant.
Monthly: declaration for preparing monthly tax reports
- Accounting – Tax service performs tax reports before the 20th of each month.
- The types of tax reports that may be made on a monthly basis include: VAT, PIT, reports on the situation of using invoices (for newly established companies, or companies operating for a period under 12 months).
- Bases for declaration are reasonable – valid – legal invoices and vouchers. If any invoice is incorrect, it has to be processed before declaration.
Quarterly: Preparing quarterly tax reports
- Making VAT returns
- Making personal income tax returns
- Making temporarily calculated corporate income tax returns by quarter
- Making a list of reports on the situation of using invoices on a quarterly basis
- Deadline for submission of quarterly reports is the 30th of the first month of the next quarter
Annually
- Works in the beginning of the year:
- Paying license tax
- Works in the end of the year:
- Corporate income tax (CIT) finalization
- PIT finalization
- Formulating financial statements
Note: Regularly update the tax laws related to enterprises to ensure that it complies with all applicable tax laws and the businesses enjoy preferential policies from the government.
TinLaw’s accounting consultancy services include Tax-Accounting Consultancy, Accounting Service, financial statement service, Checking and Complete Accounting Records, Tax Report Service, Tax Finalization Service, Social insurance registration service. To meet the needs of every customer, Tinlaw owns a team comprising highly experienced members with Masters of Business Administration – MBA, Certified Public Accountants – CPA, Chief Accountant certificate … we commit to bring the prestigious and quality tax-accounting service.
TinLaw’s loyal customers
- QUANG VINH GOLF SERVICE TRADING COMPANY LIMITED
- EUROPEAN CERAMICS CO., LTD
- TAM DUC THIEN MEDICAL EQUIPMENT CO., LTD
- BAO GIA CONSTRUCTION DESIGN CONSULTING CO., LTD
- TRIEU HAI THAI IMPORT EXPORT TRADING INVESTMENT JSC
- HUU TIEN GARMENT TRADING SERVICE CO., LTD
- LNT DESIGN CONSULTING AND MEDIA CO., LTD
- LY GIA PHAT PRODUCTION TRADING CO., LTD
- TRYCZ VIETNAM CO., LTD
- FAITH NIPPON CO., LTD
- NHAT THANH TIN CO., LTD
- NAM NGA PHUOC CO., LTD
- BINH PHAT INDUSTRY AND CONSTRUCTION CO., LTD
- ……
If you have difficulties in implementing Accounting – Tax or have any questions about business tax accounting, please contact TinLaw’s accounting-tax consultants for consultancy and support.
