Vinasc would like to express our sincere thanks for your interest in accounting services in Vietnam. Accounting, bookkeeping, and tax compliance services have become big demands of foreign investors when they decide to business in Vietnam. We are glad to know that you have read this article and interested in the following information.
Scope of service and implementation accounting services in Vietnam
- Firstly, to understand, review legal documents and transactions of the Company relating to its economic and financial activities of the Company
- To collect accounting documents such as invoices, contracts, and other accounting documents provided by the client.
- Review and check the reasonableness of the invoice.
- To declare value-added tax on a monthly/quarterly basis, personal income tax from salary and wage on a monthly/quarterly basis, report on the use of invoices as prescribed
- To prepare financial statements and accounting books as prescribed
- Reconcile accounting with tax records to ensure the compliance of relevant legal and calculating, record, accounting requirements
- To perform procedures relating to annual statistics
- To perform procedures relating to the labor report as prescribed
- Perform procedures relating to Social insurance, health insurance…
- Sign on “Prepared by” of Business’s documents
- Handover accounting books, financial statements and relevant tax declaration documents as prescribed
- Certainly, Vinasc is responsible for explaining the data to tax authorities, social insurance agency, the labor department
- Finally, to discuss with the Board of Management on matters relating to the Company’s future activities for consideration if any.
Plan of monthly accounting services in Vietnam
The business will prepare the document and handover to Vinasc to review and make accounting records, tax records as prescribed at the end of each month, for example, Output invoice, Input invoice, Import, export declaration (if any), Payroll, labor contract, Loan agreement and other relevant accounting documents.
Certainly, all of the handover results will be implemented in accordance with the contents and forms prescribed by the current regulation:
- Financial statements
- Accounting books
- Monthly, quarterly tax declaration, tax finalization
- Relevant accounting documents
- Accounting data on Excel
- In addition, accounting data on accounting software
- Firstly, Vinasc will receive documents one time a month at customer’s office
- Secondly, meetings at your business office to discuss issues relating to accounting and taxation
- However, meetings at Vinasc’s office if there are issues to discuss or need to consult
- Thirdly, the business will arrange the staff to carry out the internal operations, manage the records at the company, Vinasc will advise on recordkeeping in the most scientific and convenient way in management.
- Changing the information of business license
- Legal advice
- Work permit, a temporary residence for foreigners
- Statistical reports monthly/quarterly; Industrial zone report, Economic zone report
- Issue invoices, PIT deduction vouchers
- Payroll, labor contract
- Register PIT code, register dependents
- Initial tax records related to renting personal property
- Initial tax records of Foreign Contractor Tax
- Auditing services
- Appendix on the information about related parties transaction
- Similarly, transfer pricing documentation.
Exclusion: Tax obligations of individuals who have other incomes besides the income received from the company, customs service, and customs clearance results.
Finally, should you have any inquiries about accounting services in Vietnam, please feel free to contact us for more details.