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Our accounting consulting services for overseas businesses in China
Accounting system in China is based on Accounting Act in China. Financial Reporting Regulations for Companies and Accounting Standards for Companies regulate the accounting system of China. In addition, the Accounting Standards is divided into Old Standards and New Standards. Under the Financial Standards, there is Accounting System of Company, Accounting system of Financial Companies and Accounting system of Small-scale companies.
It is the basic law in China and there are some points should be paid attention to understand.
Old China Accounting Standards (CAS) is made up of basic standards and concrete standards. Basic standards are the items about the preparation of financial reports and concrete standards are the contents about accounting process in details based on the basic standards.
New Accounting Standards is promulgated in 2006. And it is based on China financial standards but it is also a convergence to IFRS. Therefore, China financial standards and IFRS will have an influence with each other.
It should be focused on that companies could not use both old standards and new standards. Almost all of listed companies, large-scale national companies and some large-scale companies are forced to use new accounting standards, but other companies are recommended to use.
Accounting period: January 1st to December 31st
Monthly financial reports:
It is required to submit monthly financial reports to Taxation office within 15 days from the end of month. Season financial reports and temporary tax payment are required to submit on 15thof next month. Within 45 days from the end of year, it is necessary to submit the closing financial reports and tax declaration and then it is required to do tax payment.
Financial statements:
The tax declaration of foreign investment companies is from the end of March to May 31st and common annual review of financial statements is from March 1st to June 30th.
Keeping of books:
Preparing of books:
· Accounting system in China
· Accounting period is from January 1st to December 31st. It cannot be designated.
· Financial report should be showed by RMB.
· Financial report should be prepared in Chinese. (It is possible to use one foreign language together with Chinese.)
· It is necessary to do internal governance and legally audit to some kinds of enterprises.
Old and New Standards
Accounting period and deadline of financial reports
Accounting Books
Yearly financial statements: permanent
Accounting books and receipts: 15 years
Fixed assets book: 5 years
Monthly financial reports: 3 years
Cashier of companies cannot hold the additional post such as the check of materials and management. So that the number of accountant for companies is required at least two generally.
The work of accountant can be outsourced but the management of cash should be done inside of company. So that at least one cashier is needed in the company.
Accountant in China must be a certified accountant before assuming as an accountant.
If the cashier of company cannot work one day, the procedure in bank cannot be conducted this day. Because the resident card of registrar should be showed in order to withdraw the cash from bank. Therefore, it is very important to registrar another’name except cashier advance.
According to Accounting Act, the duty of accepting legally audit for some kinds of enterprises is regulated. Government will check the completion of accounting materials, the correctness of contents, the conditions of accountants and so on.
If an illegality in accounting is founded by someone or government, there will be fine and plenty for companies.
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We offer services with the maximum level of professionalism at reasonable
The consulting flowchart to establish a business in Cambodia
The consultation to establish a company or a local corporation in Cambodia
***We could provide the service of consulting.
The consultation related to the procedure to establish and budget in Cambodia
***We could provide the necessary information, such as the research of marketing, the decision of form to establish.
To decide to investment in Cambodia and establish a company in Cambodia
***We could help you make a decision which form should be established
The registration of your corporation in Cambodia
***We could provide the service to establish and registrar a corporation in Cambodia.
The completion for establish a corporation in Cambodia
***We could introduce an office or company house by the real estate, which cooperated with our company.
The business forms to establish in Cambodia
The business forms to establish are as follows.
(1) Limited Liability Company
① Private Liability Company
② Public Liability Company
(2) Partnership
① General Partnership
② Limited Partnership
(3) Representative Office
(4) Branch
To establish a business in Cambodia
1.General Partnership
When the general partnership is registered, it will be a corporation personality. It will be possible to conduct an agreement, to have a property and so on.
2.Limited Partnership
There are three cases of Limited Partnership.
① Only one General Partnership
② Many General Partnership
③ Many Limited Partnership
* Private Limited Company
The characteristics of private limited company:
l Number of shareholders: 2~30
l Issued shock: cannot issue stocks publicly
l Transfer restriction: the transfer restriction with issued stocks
*Public Liability Company
Public Liability Company is a limited liability company that can issue stocks publicly.
3. To establish a Representative Office
The following are the activities of Representative Office can take in Cambodia.
・ To contact with the customers who will be introduced to the head office.
・ To research the business information and share it to the head office.
・ To have a market research
・ To display the samples of goods, to sell goods in an exhibition
・ To buy and storage the goods for exhibition.
・ To employ staffs and to lend an office
・ To reach an agreement with local customers as an agent of head office
Therefore, a representative office cannot sell goods regularly, provide services, and produce products and the work of construction in Cambodia. Representative Office can be closed by the judgment of head office.
The assumption of Representative Office is the existence of head office. It should be careful that the business of representative office is not been recognized and the activities are limited for supporting the sales and collect information.
4. To establish a branch
It is possible to conduct the same work with representative office.
According to the laws in Cambodia, the foreign companies can be same with head office to provide services, produce products and construct a building unless activities of branch doing are prohibited by laws in Cambodia. In addition, the assets of branch are the assets of head office, and head office also has an obligation for the liabilities of branch. It is possible to close a branch by the judgment of head office.
The Notes to establish a business in Cambodia
In the case to establish a business in Cambodia, almost all kinds of industries are allowed to establish for branch or corporation. However, some industries are prohibited for the corporation so that it should be careful. And the corporation that is to in Cambodia has to conduct the activities based on the same law.
The procedure to establish a business in Cambodia
To establish private limited companies:
After submitting the Articles of Incorporation to Business Office, the limited liability company can be established. And after the registration, foreign companies can acquire the Certificate of Incorporation from Business Office. The date of registration is the date of corporation to have a personality.
To learn more about our incorporation assistance and a range of other services related to establish company in Cambodia,
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At Establish Turkey we are providing services for accounting and auditing in turkey
Companies Act regulates the accounting system in Turkey. And from July of 2012, according to the establishment of Turkey Business Act, almost all of corporations in Turkey to create financial statements based on Turkey Accounting Standards are required. Turkish Financial Standards Committee (TMSK) establishes the Turkish Financial Reporting Standards and Turkish Financial Reporting Standards (TFRS) are established based on International Financial Reporting Standards. TFRS is applicable for corporations except for SMEs. From the year of 2013, SME’s TRFS was established and used. Business Committee and TMSK decide the identification of SMEs and which company is SME.
2. Accounting period and bookings
Accounting period in Turkey is from January 1st to December 31st and it is stipulated in Companies Act. However, for foreign companies it is possible to set another accounting period with the permission of Financial Office. And tax year should be same with accounting period. Thus, it is possible to match the tax year with accounting period for different accounting period, which is used by foreign companies.
3. Accounting bookings
All of companies in Turkey have the duty to keep accounting bookings. And accounting bookings should be written in Turkish. Bookings should be kept for 5 years based on Tax Act and for 10 years based on Business Act. The characteristic of accounting bookings in Turkey is that the certification of notification is necessary on the date of opening day and closing day. Industry Business Office rules the form and principle.
4. Disclosure System
Companies Act stipulates disclosure schedule. Corporations should submit financial statements and yearly reports within 3 months from closing date to General Assembly. And within six months these should be disclosed on an official gazette and website. Listed companies are also required to submit these documents to Istanbul Securities Exchange Office. And financial statements should be made within 2 months from closing date and submitted to General Assembly within 3 months.
The contents should be disclosed including:
・ Financial Statements
・ Yearly Reports of Activities
・ Audit reports
・ Distribution of profits
・ Contents decided by General Assembly
5. Audit system
Only large-scale companies are required to be audited in Turkey. The standards of large-scale companies were made publicly from January 2013. It is the sales are more than 200,000,000TL, or gross capital is more than 150,000,000TL, or the average number of employees is more than 500. There are three kinds of audit, which is external audit, transaction audit and special audit. Auditors should be appointed by General Assembly except for special audit. Large-scale should be audited by independent audit firm and SMEs should be audited by independent audit firm or certified financial adviser or independent accounting adviser. After appointed by corporations, the name of auditor must be registered and announced in the website.
6. Our services of accounting and taxation
①monthly closing or yearly closing
・ We will help the representative overseas can not do the accounting management well.
・ We will help someone who wants advice from professional.
・ We will help someone who want to manage profit and loss reason
We will create financial statements monthly that can know the management of business and financial conditions timely. And we will also create financial statements for yearly closing. In addition, we will support our customers to make the structure of organizations.
② Consulting services for accounting and taxation
When accountants in your own companies do the accounting and taxation or local accounting firm in Turkey does taxation work or the work, the communication between managers and staffs will be a problem and maybe managers will doubt that if the staffs deal with some problems from the view of accountant. In these cases, we will provide proper advice and services to our customers.
③ Representation service of tax declaration for monthly or yearly
・ We will help the one who is worried about the tax declaration is proper or not
・ The service of taxation declaration (taxation at source・VAT) stipulated in the law in Turkey.
④ Services of accounting audit
All of the companies should be audited by accounting auditors in Turkey. We will provide highly quality services of accounting audit at a reasonable price.
⑤ Transfer price services
In the future, the transfer pricing taxation will be stricter and stricter but we will always support. We will not only do the analysis met with conditions, but also provide the proper advice and services.
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We are providing the consulting services for taxation services in Indonesia
Article 23A of UUD 1945 (1945 Indonesian Constitution) describes Taxation in Indonesia. It is an enforceable contribution on all Indonesian citizens, residents, and foreign nationals who have lived for 183 accumulative days within a period of 12 month or are present for at least one day with intent to remain.
At Establish Indonesia, we offer a range of best taxation services in Indonesia including corporate/Individual tax planning & preparation, resolving payroll tax issues, preparation & filing of tax returns, BIR audit assistance, BIR reconciliation, Tax compliance, ITR audit, and Tax consulting & advising. We are here to handle all your complex issues related to taxation and make even complex tax filing & returns. One of the best firms offering Tax return services in Indonesia, Establish Indonesia is here to make a difference and handle all your tax related issues in an efficient manner.
To meet the business needs of taxpayers and corporations, we are also engaged in rendering customized taxation services in Indonesia to assure each of your needs is taken care of. Moreover, our experts also keep a track and scrutinize everything perfectly while rendering taxation solutions to make sure everything remains error free. Abreast with all the latest tax laws, regulations and advancements, our team makes sure that our clients receive qualitative & reliable taxation services.
Eight fundamental taxation laws of Indonesia
· General Provisions and Taxation Procedures Law “Undang-undang Ketentuan Umum dan Tatacara Perpajakan/UUKUTp”
· Income Tax Law (“Undang-undang Pajak Penghasilan/UU PPh”)
· Value Added Tax VAT termed ‘Goods and Services and Sales Tax on Luxury Goods’ (“Undang-undang Pajak Pertambahan Nilai atas Barang dan Jasa dan Pajak Penjualan atas Barang Mewah”/UU PPN/PPn BM )
· Land Tax and Building Tax (“Undang-undang Pajak Bumi dan Bangunan – UU PBB”)
· Warrant for Tax Collection (“Undang-undang Penagihan Pajak dengan Surat Paksa/UU PPSP”)
· Fees for Acquisition of Rights to Lands and Buildings (“Undang-undang Bea Perolehan Hak atas Tanah dan Bangunan/UU BPHTB”)
· Tax Court Law (“Undang-undang Pengadilan Pajak/UU PP”)
· Stamp Duty (“Undang-undang Bea Meterai/UU BM”)
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To learn more about our incorporation assistance and a range of services in Philippines
At Establish Philippines, we help entrepreneurs with the daunting task of Business Establishment in Philippines. Our experience in the domain has helped us to carve a niche in the industry and offer the most reliable solutions to clients looking forward to establishing their business in Philippines without any hassle. We are here to help you with an efficient and end to end process for company formation.
Establish Philippines provides expert advice on company setup in Philippines and handles everything right from investment, company registration, document evaluation, collection& filing to Mayor’s permit, and everything else associated with business establishment.We follow strict business rules and adheres to the existing laws & regulations to make sure we can always keep our clients on the right side of the law.
Summary of the business establishment & associated procedures:
· Obtain bank certificate of deposit of the paid-in capital
· Verification of company name availability with Securities and Exchange Commission
· Register incorporation with the SEC
· Obtaining community tax certificate (CTC)
· Apply for a Barangay (district) clearance
· Obtaining Mayor’s permit
· Taxation Registration at Bureau of Internal Revenue (BIR)
· Obtain books of accounts stamped by BIR
· Initial registration with the Social Security System (SSS)
· Complete registration with SSS & the Philippines Health Insurance Company (PHIC)
To learn more about our services & products related with establishing your business in Philippines, please get in touch with our experts at +81 (0) 353692930 or simply drop us a mail at [email protected]
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To learn more about our incorporation assistance and a range
At Establish Malaysia, we help entrepreneurs with the daunting task of Business Establishment in Malaysia. Our experience in the domain has helped us to carve a niche in the industry and offer the most reliable solutions to clients looking forward to establishing their business in Malaysia without any hassle. We are here to help you with an efficient and end to end process for company formation.
Establish Malaysia provides expert advice on company setup in Malaysia and handles everything right from investment, company registration, document evaluation, collection& filing to Mayor’s permit, and everything else associated with business establishment.We follow strict business rules and adheres to the existing laws & regulations to make sure we can always keep our clients on the right side of the law.
Summary of the business establishment & associated procedures:
· Obtain bank certificate of deposit of the paid-in capital
· Verification of company name availability with Securities and Exchange Commission
· Register incorporation with the SEC
· Obtaining community tax certificate (CTC)
· Apply for a Barangay (district) clearance
· Obtaining Mayor’s permit
· Taxation Registration at Bureau of Internal Revenue (BIR)
· Obtain books of accounts stamped by BIR
· Initial registration with the Social Security System (SSS)
· Complete registration with SSS & the Malaysia Health Insurance Company (PHIC)
To learn more about our services & products related with establishing your business in Malaysia, please get in touch with our experts at +81 (0) 353692930 or simply drop us a mail at [email protected]
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We are providing the consulting services for taxation services in Singapore
All of the tax items in Singapore are the national taxes. And the main taxes include the following taxes.
・ Corporation income tax
・ Income tax
・ Property tax
・ Good service tax
・ Stamp tax
・ Tariff tax
・ Foreign employees income tax
・ Technology development tax
・ Tax related automobile (registration tax, additional registration, road tax)
The following taxes are the main items of taxes in Singapore.
Income tax
In the case of calculating income tax, the scope of tax will be different based on the targets are the residents or non-residents. Hence, it is necessary to judge the persons are residents or not firstly.
Corporation income tax
The corporation place of residence is decided by the principle of management and control right. The company formation based on Companies Acts of Singapore is treated as residential corporation even invested by foreign companies. However, no matter a company set up based on Companies Acts of Singapore or not, if the General Meeting and Board of Directors meeting is conducted in foreign country and the management or operations are conducted in foreign country, it will be treated as a non-resident corporation.
In the tax system of Singapore, residents have the good treatment. In the opposite way, non-resident cannot apply for the tax-free of foreign tax at source income, tax deduction or tax free of taxation at source based on dual tax avoidance regulation. In addition, the judgment of residents or non-residents will be conducted every tax year.
Goods Service Tax
Goods Service Tax is an indirect tax that is payable for money and goods or service in the demotic transactions. GST is raised to 7% from July 1st 2007. The persons who will have the obligation to pay GST satisfy the following condition. The sales of corporation exceeded 1,000,000 dollars in any past year and it is necessary to register to IRAS as taxation payer.
Property Tax
The property tax is payable for the property of residence. And the amount of tax is calculated by accumulated tax rate.
Stamp Tax
It is a tax that for the contract of property transaction and shares transaction. And it is also for the shares of corporation and demotic property in Singapore.
To learn more about our incorporation assistance and a range of services of tax in Singapore
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Our accounting consulting services for overseas businesses in Bangladesh
In 2002, Law on Corporate Accounting and Audit and Accounting Profession was established and it became the base of accounting system. In 2003, government ordinance of National Accounting Council and government ordinance of Kampuchea Institute of Certified Public Accountants and Auditors were promulgated and the subject of setting standards and audit or supervisor became definite.
Economic Financial Office manages national Accounting Council (NAC) and NAC has a right to revise or make the rules or standards related accounting. On the other hand, Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) is a private group and it makes accounting industry organizing and supervises the work of accounting to keep high quality.
Period
It is not stipulated in the Accounting Act. In general, the taxation period is from January 1st to December 31st. But it is also possible to acquire permission of Taxation Office to use a tax year except calendar year.
Bookings
Commonly the materials of accounting are written in Khmer. For foreign companies, it can be prepared in English but it is necessary to attach the translation in Khmer.
Accounting booking and vouchers are required to keep for 10 years from the end of current period.
The making of financial statements must be finished within 3 months from the closing day.
Standards
In 2002, according to the IFRS, Bangladesh Accounting Standards is promulgated by NAC. And in 2009, except Small-Medium-Enterprises all of the corporations in Bangladesh should use IFRS and the translation to Khmer of IFRS was developed. In 2012, the IFRS should be applicable for financial, insurance and listed companies. And other companies are recognized to apply SEMs accounting standards.
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Our accounting consulting services for overseas businesses in Vietnam
In 2002, Law on Corporate Accounting and Audit and Accounting Profession was established and it became the base of accounting system. In 2003, government ordinance of National Accounting Council and government ordinance of Kampuchea Institute of Certified Public Accountants and Auditors were promulgated and the subject of setting standards and audit or supervisor became definite.
Economic Financial Office manages national Accounting Council (NAC) and NAC has a right to revise or make the rules or standards related accounting. On the other hand, Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) is a private group and it makes accounting industry organizing and supervises the work of accounting to keep high quality.
Period
It is not stipulated in the Accounting Act. In general, the taxation period is from January 1st to December 31st. But it is also possible to acquire permission of Taxation Office to use a tax year except calendar year.
Bookings
Commonly the materials of accounting are written in Khmer. For foreign companies, it can be prepared in English but it is necessary to attach the translation in Khmer.
Accounting booking and vouchers are required to keep for 10 years from the end of current period.
The making of financial statements must be finished within 3 months from the closing day.
Standards
In 2002, according to the IFRS, Vietnam Accounting Standards is promulgated by NAC. And in 2009, except Small-Medium-Enterprises all of the corporations in Vietnam should use IFRS and the translation to Khmer of IFRS was developed. In 2012, the IFRS should be applicable for financial, insurance and listed companies. And other companies are recognized to apply SEMs accounting standards.
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Establish Thailand is one of the most reputed firms offering reliable
Does the thought of filing for your income tax return fills you with dread? Well! you are not alone; the critical tax issues can be really tricky. At Establish Thailand, we take great pride in providing a spectrum of taxation services in Thailand. With hands on expertise in the industry, Establish Thailand is one of the most reputed firms offering reliable taxation services in Thailand to clients from various industries. We constantly strive to help our clients with tax filing, tax consultation, tax scrutiny assistance, corporate solutions, and other tax related solutions as per the international quality standards.
All the tax related services offered at Establish Thailand come with our globally consistent Accuracy Guarantees and Satisfaction. Owing to years of legacy in the industry, we make sure that our clients’ information is 100% secure with us.
Tax serviced offered at Establish Thailand includes:
· Corporate tax return services in Thailand
· Individual tax planning & preparation
· Preparation & filing of tax returns
· Resolving payroll tax services
· ITR audit
· Tax consulting & Advising
The team of adept taxation experts, accountants, and auditors at Establish Thailand keep up with the latest developments and every news that comes out in the Thai industry. As a result, we are able to keep our clients way ahead of their competitors and on the right side of the law. Moreover, our experts follow strict guidelines while rendering each of the services to avoid even the slimmest of mistakes from being occurring and offers the most reliable taxation services to our clients situated in Thailand.
For more information on best taxation services and latest updates about income tax returns, feel free to contact Establish Thailand and get guidance from experienced taxation experts of Thailand. We are here to take care of each of your tax related concerns.
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Our accounting consulting services for overseas businesses in China
Accounting system in China is based on Accounting Act in China. Financial Reporting Regulations for Companies and Accounting Standards for Companies regulate the accounting system of China. In addition, the Accounting Standards is divided into Old Standards and New Standards. Under the Financial Standards, there is Accounting System of Company, Accounting system of Financial Companies and Accounting system of Small-scale companies.
It is the basic law in China and there are some points should be paid attention to understand.
Old China Accounting Standards (CAS) is made up of basic standards and concrete standards. Basic standards are the items about the preparation of financial reports and concrete standards are the contents about accounting process in details based on the basic standards.
New Accounting Standards is promulgated in 2006. And it is based on China financial standards but it is also a convergence to IFRS. Therefore, China financial standards and IFRS will have an influence with each other.
It should be focused on that companies could not use both old standards and new standards. Almost all of listed companies, large-scale national companies and some large-scale companies are forced to use new accounting standards, but other companies are recommended to use.
Accounting period: January 1st to December 31st
Monthly financial reports:
It is required to submit monthly financial reports to Taxation office within 15 days from the end of month. Season financial reports and temporary tax payment are required to submit on 15thof next month. Within 45 days from the end of year, it is necessary to submit the closing financial reports and tax declaration and then it is required to do tax payment.
Financial statements:
The tax declaration of foreign investment companies is from the end of March to May 31st and common annual review of financial statements is from March 1st to June 30th.
Keeping of books:
Preparing of books:
· Accounting system in China
· Accounting period is from January 1st to December 31st. It cannot be designated.
· Financial report should be showed by RMB.
· Financial report should be prepared in Chinese. (It is possible to use one foreign language together with Chinese.)
· It is necessary to do internal governance and legally audit to some kinds of enterprises.
Old and New Standards
Accounting period and deadline of financial reports
Accounting Books
Yearly financial statements: permanent
Accounting books and receipts: 15 years
Fixed assets book: 5 years
Monthly financial reports: 3 years
Cashier of companies cannot hold the additional post such as the check of materials and management. So that the number of accountant for companies is required at least two generally.
The work of accountant can be outsourced but the management of cash should be done inside of company. So that at least one cashier is needed in the company.
Accountant in China must be a certified accountant before assuming as an accountant.
If the cashier of company cannot work one day, the procedure in bank cannot be conducted this day. Because the resident card of registrar should be showed in order to withdraw the cash from bank. Therefore, it is very important to registrar another’name except cashier advance.
According to Accounting Act, the duty of accepting legally audit for some kinds of enterprises is regulated. Government will check the completion of accounting materials, the correctness of contents, the conditions of accountants and so on.
If an illegality in accounting is founded by someone or government, there will be fine and plenty for companies.
0 notes
Text
Our accounting consulting services for overseas businesses in Cambodia
In 2002, Law on Corporate Accounting and Audit and Accounting Profession was established and it became the base of accounting system. In 2003, government ordinance of National Accounting Council and government ordinance of Kampuchea Institute of Certified Public Accountants and Auditors were promulgated and the subject of setting standards and audit or supervisor became definite.
Economic Financial Office manages national Accounting Council (NAC) and NAC has a right to revise or make the rules or standards related accounting. On the other hand, Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA) is a private group and it makes accounting industry organizing and supervises the work of accounting to keep high quality.
Period
It is not stipulated in the Accounting Act. In general, the taxation period is from January 1st to December 31st. But it is also possible to acquire permission of Taxation Office to use a tax year except calendar year.
Bookings
Commonly the materials of accounting are written in Khmer. For foreign companies, it can be prepared in English but it is necessary to attach the translation in Khmer.
Accounting booking and vouchers are required to keep for 10 years from the end of current period.
The making of financial statements must be finished within 3 months from the closing day.
Standards
In 2002, according to the IFRS, Cambodia Accounting Standards is promulgated by NAC. And in 2009, except Small-Medium-Enterprises all of the corporations in Cambodia should use IFRS and the translation to Khmer of IFRS was developed. In 2012, the IFRS should be applicable for financial, insurance and listed companies. And other companies are recognized to apply SEMs accounting standards.
0 notes
Text
At Establish Turkey we are providing services for accounting
Companies Act regulates the accounting system in Turkey. And from July of 2012, according to the establishment of Turkey Business Act, almost all of corporations in Turkey to create financial statements based on Turkey Accounting Standards are required. Turkish Financial Standards Committee (TMSK) establishes the Turkish Financial Reporting Standards and Turkish Financial Reporting Standards (TFRS) are established based on International Financial Reporting Standards. TFRS is applicable for corporations except for SMEs. From the year of 2013, SME’s TRFS was established and used. Business Committee and TMSK decide the identification of SMEs and which company is SME.
2. Accounting period and bookings
Accounting period in Turkey is from January 1st to December 31st and it is stipulated in Companies Act. However, for foreign companies it is possible to set another accounting period with the permission of Financial Office. And tax year should be same with accounting period. Thus, it is possible to match the tax year with accounting period for different accounting period, which is used by foreign companies.
3. Accounting bookings
All of companies in Turkey have the duty to keep accounting bookings. And accounting bookings should be written in Turkish. Bookings should be kept for 5 years based on Tax Act and for 10 years based on Business Act. The characteristic of accounting bookings in Turkey is that the certification of notification is necessary on the date of opening day and closing day. Industry Business Office rules the form and principle.
4. Disclosure System
Companies Act stipulates disclosure schedule. Corporations should submit financial statements and yearly reports within 3 months from closing date to General Assembly. And within six months these should be disclosed on an official gazette and website. Listed companies are also required to submit these documents to Istanbul Securities Exchange Office. And financial statements should be made within 2 months from closing date and submitted to General Assembly within 3 months.
The contents should be disclosed including:
・ Financial Statements
・ Yearly Reports of Activities
・ Audit reports
・ Distribution of profits
・ Contents decided by General Assembly
5. Audit system
Only large-scale companies are required to be audited in Turkey. The standards of large-scale companies were made publicly from January 2013. It is the sales are more than 200,000,000TL, or gross capital is more than 150,000,000TL, or the average number of employees is more than 500. There are three kinds of audit, which is external audit, transaction audit and special audit. Auditors should be appointed by General Assembly except for special audit. Large-scale should be audited by independent audit firm and SMEs should be audited by independent audit firm or certified financial adviser or independent accounting adviser. After appointed by corporations, the name of auditor must be registered and announced in the website.
6. Our services of accounting and taxation
①monthly closing or yearly closing
・ We will help the representative overseas can not do the accounting management well.
・ We will help someone who wants advice from professional.
・ We will help someone who want to manage profit and loss reason
We will create financial statements monthly that can know the management of business and financial conditions timely. And we will also create financial statements for yearly closing. In addition, we will support our customers to make the structure of organizations.
② Consulting services for accounting and taxation
When accountants in your own companies do the accounting and taxation or local accounting firm in Turkey does taxation work or the work, the communication between managers and staffs will be a problem and maybe managers will doubt that if the staffs deal with some problems from the view of accountant. In these cases, we will provide proper advice and services to our customers.
③ Representation service of tax declaration for monthly or yearly
・ We will help the one who is worried about the tax declaration is proper or not
・ The service of taxation declaration (taxation at source・VAT) stipulated in the law in Turkey.
④ Services of accounting audit
All of the companies should be audited by accounting auditors in Turkey. We will provide highly quality services of accounting audit at a reasonable price.
⑤ Transfer price services
In the future, the transfer pricing taxation will be stricter and stricter but we will always support. We will not only do the analysis met with conditions, but also provide the proper advice and services.
0 notes
Text
We are providing the consulting services for taxation services in Indonesia
Article 23A of UUD 1945 (1945 Indonesian Constitution) describes Taxation in Indonesia. It is an enforceable contribution on all Indonesian citizens, residents, and foreign nationals who have lived for 183 accumulative days within a period of 12 month or are present for at least one day with intent to remain.
At Establish Indonesia, we offer a range of best taxation services in Indonesia including corporate/Individual tax planning & preparation, resolving payroll tax issues, preparation & filing of tax returns, BIR audit assistance, BIR reconciliation, Tax compliance, ITR audit, and Tax consulting & advising. We are here to handle all your complex issues related to taxation and make even complex tax filing & returns. One of the best firms offering Tax return services in Indonesia, Establish Indonesia is here to make a difference and handle all your tax related issues in an efficient manner.
To meet the business needs of taxpayers and corporations, we are also engaged in rendering customized taxation services in Indonesia to assure each of your needs is taken care of. Moreover, our experts also keep a track and scrutinize everything perfectly while rendering taxation solutions to make sure everything remains error free. Abreast with all the latest tax laws, regulations and advancements, our team makes sure that our clients receive qualitative & reliable taxation services.
Eight fundamental taxation laws of Indonesia
· General Provisions and Taxation Procedures Law “Undang-undang Ketentuan Umum dan Tatacara Perpajakan/UUKUTp”
· Income Tax Law (“Undang-undang Pajak Penghasilan/UU PPh”)
· Value Added Tax VAT termed ‘Goods and Services and Sales Tax on Luxury Goods’ (“Undang-undang Pajak Pertambahan Nilai atas Barang dan Jasa dan Pajak Penjualan atas Barang Mewah”/UU PPN/PPn BM )
· Land Tax and Building Tax (“Undang-undang Pajak Bumi dan Bangunan – UU PBB”)
· Warrant for Tax Collection (“Undang-undang Penagihan Pajak dengan Surat Paksa/UU PPSP”)
· Fees for Acquisition of Rights to Lands and Buildings (“Undang-undang Bea Perolehan Hak atas Tanah dan Bangunan/UU BPHTB”)
· Tax Court Law (“Undang-undang Pengadilan Pajak/UU PP”)
· Stamp Duty (“Undang-undang Bea Meterai/UU BM”)
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To learn more about our incorporation assistance and a range of services
At Establish Philippines, we help entrepreneurs with the daunting task of Business Establishment in Philippines. Our experience in the domain has helped us to carve a niche in the industry and offer the most reliable solutions to clients looking forward to establishing their business in Philippines without any hassle. We are here to help you with an efficient and end to end process for company formation.
Establish Philippines provides expert advice on company setup in Philippines and handles everything right from investment, company registration, document evaluation, collection& filing to Mayor’s permit, and everything else associated with business establishment. We follow strict business rules and adhere to the existing laws & regulations to make sure we can always keep our clients on the right side of the law.
Summary of the business establishment & associated procedures:
· Obtain bank certificate of deposit of the paid-in capital
· Verification of company name availability with Securities and Exchange Commission
· Register incorporation with the SEC
· Obtaining community tax certificate (CTC)
· Apply for a Barangay (district) clearance
· Obtaining Mayor’s permit
· Taxation Registration at Bureau of Internal Revenue (BIR)
· Obtain books of accounts stamped by BIR
· Initial registration with the Social Security System (SSS)
· Complete registration with SSS & the Philippines Health Insurance Company (PHIC)
To learn more about our services & products related with establishing your business in Philippines
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To get information and assistance about Tax Services in Malaysia
Over the past few years things have been changing drastically in the business world especially when it comes to taxation. And, the pace & complexity associated with the change keeps on increasing. As the competition for capital & labor tends to increase each day, the government is tempering the need for revenue. In response to the business’s changing dynamics tax authorities have started to adapt their focus, policies and enforcement strategies. At Establish Malaysia, we can navigate you through these critical tax issues and help you keep up with your business without worrying about your tax returns & filing.
One of the highly chosen accounting firms with years of expertise in offering Tax Services in Malaysia; we have so far represented major of the corporations of Malaysia. We offer reliable tax services to corporate taxpayers as well as individuals looking for trusted tax solutions in Malaysia. We aim towards helping our clients at the best and keep them abreast with the tax laws and regulations.
Establish Malaysia offers:
· Corporate/Individual tax planning & preparation
· Resolving payroll tax issues
· Preparation & filing of tax returns
· BIR audit assistance
· BIR reconciliation
· Tax compliance
· ITR audit
· Tax consulting & Advising
Establish Malaysia’s team of experienced taxation experts is up-to-date with the changing tax laws, rules and regulations that helps us to take care of your taxes with utmost accuracy in the best possible way. Our experts’ process tax returns professionally, accurately, timely that too at the most competitive market prices than other companies offering tax return services in Malaysia.
For more information on taxation services in Malaysia feet free to get in touch with our taxation experts at Establish Malaysia. We are here to handle each of your taxation related issue.
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We provide the consulting service related to company setup in Singapore
The consulting flowchart to establish a business in Singapore
The consultation to establish a company or a local corporation in Singapore
***We could provide the service of consulting.
The consultation related to the procedure to establish and budget in Singapore
***We could provide the necessary information, such as the research of marketing, the decision of form to establish.
To decide to investment in Bangladesh and establish a company in Singapore
***We could help you make a decision which form should be established
The registration of your corporation in Singapore
***We could provide the service to establish and registrar a corporation in Singapore
The completion for establish a corporation in Singapore
***We could introduce an office or company house by the real estate, which cooperated with our company.
The business forms to establish in Singapore
· Corporation
· Representative Office
· Branch
· Partnership
Representative Office
The work of representative office is limited to support the sales activities and contract role. It is recognized to conduct the market research, advertisement and some other work, but it is not recognized to do a negotiation of agreement, accept the order, collect the receivables and do after service. Representative office is not treated as a personality so that it is not required to do declaration for other corporation.
Branch
In order to establish a branch in Singapore, two residents in Singapore must be appointed as agent. As an agent, it has a liability for branch and it has the right to receive the documents from foreign companies. And it also has a responsibility to undertake a penalty of branch.
Corporation
Corporation is the most general form of a business in Singapore when foreign companies establish a business. It is possible to establish unlimited liability company, limited liability company and guarantee liability company in Singapore.
Partnership
Partnership is individuals or corporation made up from two to twenty members, which register without personality of corporation. And the liability of loss and risk related to legal are all paid by partnership. The registration of partnership can be applied by individual with the nationality of Singapore, permanent residence, and foreigners with entry pass or registered corporation. Business Registration Act regulates the management of partnership.
The procedure to establish a business in Singapore
Reservation of business brand
In order to establish a business in Singapore, foreign companies must apply ACRA to obtain a permit of business brand. The registered business brand cannot be used. And if the company is private,「Private」or「Pte」 must be included in the name. If the company is limited liability company, 「Limited」or「Ltd」must be included in the name.
Application of registration
At least one shareholder and one resident in Singapore have to be the directors. The process to establish a business is simpler than other business.
The procedure after registration
After the procedure to establish a business in Singapore, to establish a business, account, transfer and some other work have to be made sure. In six mouths after establish a business, the appointment of officer has to be finished. And the appointment of a financial audit must conduct in three mouths from establishing a business.
To learn more about our incorporation assistance and a range of other services related to establish a company, send us a message or call us at +81-3-5369-2930.
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