Corporate income tax compliance & reporting – S4B

Corporate income tax is levied from a company net profits after subtracting all the costs regarding expenses, productions, materials or other activities. This rate is varied among countries and within a country itself from time to time. Therefore, taxing functions become more important since the corporations are in crucial needs of controlling risk and having better decision making.

Corporate income tax compliance is achieved by meeting the governmental charge and the lowest possible rates of the company. These tasks are challenging as the working environment in Vietnam is very much flexible with frequent changing laws and regulations. Not to mention that each specific enterprise has its own pattern of operation, size and experience in the industries are also among the difficulties that can cost time and money for the tax compliance. Failing to fulfill the requirements of corporate income tax compliance within terms can cause harm to the sustainable development as well as reputation of the businesses.

Accountants who work within this field need to prepare themselves with laws imposed, current regulations, supportive documents and procedures, companies’ specific features and timeline of all the activities so that the statement or output documents can be done in time and mistaken free. The process of tax compliance is very much specialized and usually be tailored or customized within the contexts of each enterprise. Since the necessities are prerequisite and require high qualified employees. Consequently, new establishments are often going for a third party to have the task done for them. In the lon run, the companies can save more time spending on decision-making or working strategies, solutions, etc. to move towards professional goals.

With more than 10 years of practical experience in Vietnam, Smart Solution for Business Company Limited or S4B is one of the trusted partners to work with when it comes to tax compliance. Since tax laws and regulations are constantly changing in Vietnam and being presented in different language and contexts of application, having a company that specialized in this type of business is a huge advantage for any new founded corporation. S4B is fulfilled with a team of well practice and professional in giving advices or customizing services for any organizations from small to medium size or with different periods of operation.

S4B assists the clients to arrange proper tax planning as well as optimizing taxing process which are quite challenging and burdening the businesses. Services provided include wide range of tasks of tax declaration and payment, the company can work with its partners in:

– Annual direct tax each business has to pay every year for doing business in Vietnam which is Business License Tax declaration and payment.

– Value Added Tax (VAT) on monthly/quarterly/yearly declaration and payment.

– Corporate income tax on the annual taxable profit.

– Direct tax levied from personal income or Personal income tax.

– Especially for foreign entities, Foreign Contractor Withholding Tax is required to initiate and maintain the development of the corporation in Vietnam.

Thus, to whatever the requests being ordered, S4B team can surely sort out effective resolutions for the enterprises.