|Withholding Taxn||Withholding Tax||Withholding Tax|
|Value Added Tax||Value Added Tax||Value Added Tax|
|Social Fund (4 employees)||Social Fund (12 Employees)||Social Fund (24 Employees)|
|Filing and Compliance||Filing and Compliance||Filing and Compliance|
|25 Transactions||50 Transactions||150 Transactions|
|Quickbooks Bookkeeping||Quickbooks Bookkeeping|
Managing employment income, dividends, interests, royalties, and technical service fees
Preparing Corporate Withholding Tax Returns Form
Handling payment with revenue department within the 7th of the following month
Regulating VAT debits and credits will be done on a monthly basis
Preparing Value Added Tax (VAT) Returns Form
Handling payment with revenue department within the 15th of the following month
Maintenance of monthly VAT input and output records
Social contributions to the employees’ salaries have to be paid each month
Company Annual Fund contributions is required at the end of each year
Handling payment to the Social Fund Office by the 25th of the following month
Profit and Loss Statement listing revenue and expenses in a detailed format
Balance Sheet reflecting summary of assets and liabilities
Withholding tax certificate
Payroll calculation of withholding income tax, social fund contributions, deductions and allowances, and other benefits
Creation of monthly carbon pay slips
Payroll report to submit to the bank
The payment is released upon your approval
Cash report is presented
Easier, faster and safe
This return must be filed within 150 days from the closing of accounting period (balance sheet date). Drafting and documenting Summary Financial Report form (SBC 3), Summary of annual salary (PND 1 Kor), workmen’s compensation, and Corporate income tax returns (PND 50) to Revenue Department, Social Fund Office, and Department of Business Development.
Taxpayer can register for Personal Income Tax return and make a payment to the Revenue Department within the last day of March following the taxable year. Any withholding tax which has been already paid to the Revenue Department can be used as a credit against the tax liability at the end of the year.
The half year report must be reported within sixty days from the end of half year period. The taxable income is computed on one-half of the estimate profit for the full year. However, this return is not applicable for the first accounting period of the company providing.
This form summarizes the details of employment, namely wage payments and tax withholding of the whole year and it must be reported to Revenue Department within February of the following year.
Social Security Office estimates the amount of Workmen’s Compensation Fund contribution through the Form “Kor Tor 26 Kor” for the next year for your company to pay. It is estimated from previous year salaries that the official has seen from the Social Security form filed through monthly basis for the whole year. In this form, it says the amount you have to pay for the fund of the present year. The payment must be made to the Social Security Office within January.
Form “Kor Tor 20 Kor” which appears on the same paper under Form Kor Tor 26, is for the company to fill out the total figure of previous year payroll. This form is to be compared and corrected with the amount you paid in Form “Kor Tor 26 Kor” of the previous year and make you pay the difference within the end of February (in case you paid too little in previous year) or give you the refund (if you paid too much in previous year).