YEAR-END TAX TLEMENT SERVICE

As the year-end approaches, enterprises often face the burden of preparing financial statements and completing the year-end closing procedures. Having 10 years of experience in the accounting industry, Duy Anh is confident in representing your entity to resolve all issues encountered during the tax finalization process.

WHAT IS TAX TLEMENT?

• Tax settlement is the process where accountants meticulously review and consolidate an enterprise's tax account data.
• Based on this data, corporate income tax (CIT) and personal income tax (PIT) are finalized. Entities are required to provide accurate and transparent information.
• This process reflects the actual financial health of the company, providing a legitimate basis for working with state tax authorities.

BENEFITS OF YEAR-END TAX TLEMENT

• Year-end tax settlement is a mandatory activity conducted upon request during state inspections.
• Beyond providing detailed financial information, it allows enterprises to evaluate their business efficiency over the entire year.
• Finalization assists in managing revenue and profit, helping leadership establish a vision and strategic direction for the following year.

CRITICAL CONSIDERATIONS WHEN CHOOSING YEAR-END TAX TLEMENT SERVICES

• Conduct thorough research and meticulously review accounting data to eliminate potential errors.
• Clearly reconcile declared value added tax (VAT) against the trial balance to identify and resolve any discrepancies.
• Verify salary levels, labor contract categories, and personal income tax (PIT) for each individual employee.
• Categorize output invoices and verify whether the cost of goods sold (COGS) complies with regulatory standards.
• Closely review fixed assets and allocated expenses supplement necessary documentation if deficiencies are found. This ensures accurate depreciation calculations and identifies non-deductible expenses during finalization.
• Carefully balance expenses to determine the precise tax liability owed to the state.

FULL-SERVICE ACCOUNTING WORKFLOW IN HAI PHONG

Monthly and quarterly accounting services:

• Receive invoices and vouchers from clients and prepare formal handover minutes between both parties.
• Prepare and submit monthly or quarterly tax declarations to tax authorities within regulatory deadlines, covering all incurred tax liabilities.
• Perform accounting entries and finalize a comprehensive, organized bookkeeping system in strict accordance with accounting standards and tax laws.
• Categorize, arrange, and manage vouchers through a systematic and scientific archiving process.
• Appoint dedicated personnel to work directly with tax authorities upon request.
• Maintain timely communication to minimize administrative penalties, such as lost invoices, late filings, or incorrect invoice sequencing.
• Provide consultancy on finalizing dossiers and documentation to ensure that business expenses are not disqualified during tax audits or inspections.
• Balance various tax obligations to optimize and achieve the most efficient tax liability for the enterprise.

Year-end finalization:

• Prepare annual Financial Statements (FS).
• Conduct corporate income tax (CIT) and personal income tax (PIT) finalization.
• Finalize year-end records and documentation for internal storage, serving as the foundation for future tax audits.
• Manage all social insurance dossiers and procedures for the enterprise.
• Prepare and submit mandatory statistical reports.
• Register all necessary dossiers and documentation for the upcoming fiscal year.
• Execute professional tax refund procedures.
• Prepare bank loan dossiers and facilitate bank refinancing procedures.

AFFORDABLE YEAR-END TAX TLEMENT SERVICES IN HAI PHONG

Are you a business owner seeking comprehensive, end-to-end accounting support?

►► Contact us today - Duy Anh Services and Development Investment Company Limited, boasting nearly 20 years of expertise in accounting and taxation within the Hai Phong market. ◄◄

We offer flexible monthly, quarterly, and annual accounting service packages tailored to your business needs:

✪ TAX ACCOUNTING SERVICES: Tax advisory, tax declaration and filing, tax reviews, tax refund procedures, and internal tax accounting control.
✪ FULL-SERVICE ACCOUNTING: Preparation of year-end financial statements, documentation and bookkeeping completion, tax finalization, preparation of bank loan and refinancing dossiers, and chief accountant services.
✪ TURNKEY COMPANY INCORPORATION CONSULTANCY with fees starting from only 2,500,000 VND.

Special promotion for startups: Complimentary corporate round seal and title stamp, along with free initial consultancy (including business license tax payment, invoice issuance, and bank account registration/ reporting to tax authorities).

Duy Anh Accounting provides superior client support through:

• A staff of accountants with over 20 years of experience in accounting reconciliation and specialized accounting for diverse sectors, including construction, installation, road and sea transport, wood processing, customs, import-export, and garments.
• Accurate preparation of reports and dossiers, ensuring all regulatory deadlines are met.
• Ensuring a balanced alignment between corporate interests and operational costs.

With competitive and cost-effective pricing, Duy Anh is the premier choice for enterprises in Hai Phong and surrounded regions.