25 Oct Prepare The Compliance Cashbook Of Representative Office in Vietnam
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After every 3 to 5 years of office operating, the Tax Department will ask your office to provide cashbook of representative office, bank statements and all relate vouches/ lawful invoices/ employees profiles, proper salary payroll for inspection. Tax authorities will focus on every of your transaction to make sure your payment will meet the current tax and anti-money laundering regulations.
How can we always be ready to meet these inspections of cashbook of Representative office? Please go through some key points below with us, we hope you can find it useful.
1/ Collect monthly original vouchers – arrange and store in standard files (Business Records Management)
- Bank statement and vouchers.
- Petty cash.
- Salary and allowances.
- Others expenses.
2/ Internal audit and taxation
- Prepare standard cashbook
- Review office’s activities under current regulation for every transaction; Set up the relation between the transactions legally and optimally.
- Calculating optimal payable of taxes amount, remove the existing risks and prevention of risk arising; Complete set of lawful documents for every transaction.
- Preparing Personal Income Tax (PIT) Report; tax settlement; tax obligation certificate; complete dossiers for tax exemption and reduction; Prepare internal reports for the Chief and Head office
3/ Consultant and other procedures
- Apply, renew, amendment, supplement, dissolution business/office license.
- Visas, work permit and temporary residence cards for expats.
- Change the chief of representative office.
- Annual operation reports to the Department of Industrial and Trade.
- Protection of intellectual property rights with proper registration and duly protection title.
4/ Business records and Paperwork
- Drafting and reviewing on every business document, contract, memorandum, agreement, decision… in English and Vietnamese.
- Legalize paper from overseas.
- Translate into English, French, Japanese, Korean, …
- Notarization, duly copy all types of documents.
- Business forms.
- Business laws and regulations in bilingual languages English – Vietnamese and apply in practice local cases.
- Manage business records in accordance with ISO standard and Kaizen – 5S.
VIVA has been an in-depth consultant on business compliance procedures in Vietnam since 2006, based on our professional - integrated background in Business laws - Accounting and corporate finance - Tax management - Labor relation and payroll – Business administration procedures. VIVA offers exclusive services in an integrated tailor-made, consist of 5 specialized-expertise platforms and the inheritance experience up to hundreds of years for every job.
Our extensive expertise and management system that facilitates us to connect local resources and be ready to deliver exclusive solutions that exceed all standard limits and satisfy all expectations of our clients.