TAX REVIEW SERVICE – COST OPTIMIZATION
Every day, businesses generate a lot of economic transactions. These transactions are diverse and complex involving many taxes; There are many details in each tax, such as corporate income tax, VAT, personal income tax for employees - labor, royalties, research and development fees, rewards for improvement initiatives, etc. It is difficult for accountants. understand all the complicated regulations involved, so businesses face huge tax risks…
According to the regulations, after the enterprise completes the financial statement and tax finalization, the tax authority will check whether the enterprise has recorded the correct and sufficient report according to the law or not? So to best prepare for this, you need to review everything and QPT will help you with that!
The purpose of the tax review procedure is to provide you with an overview of your business's situation in compliance with current tax regulations. Moreover, through the review, businesses will reduce errors, tax risks, and improve the efficiency of tax accounting. Helping businesses optimize profit after tax in the most reasonable way.
For each customer, QPT captures the needs and situation of operational processes, strategies, and goals… from there finding out the flaws and offering solutions that are right for your business, thereby helping you
FINDING POTENTIAL RISKS – OPTIMIZING PROFIT AFTER TAX
THE CONTENTS OF THE TAX REVIEW SERVICE WILL BE IMPLEMENTED AS FOLLOWING:
Through the preliminary information provided by your business, QPT will conduct an inspection and review of all records and documents related to CIT, VAT, and PIT. Thereby, QPT will detect errors and potential tax risks, on that basis, propose technical solutions to find ways to minimize tax risks; supplement and rationalize expenses; or exclude from expenses and re-adjust tax returns.
1. Tax Review Corporate Income Tax (“CIT”):
– Collect and review Investment Certificate, business registration, and updates to review preferential taxes applicable to the Review Period.
– Review the Audit Report and the CIT Return, including additional declarations submitted to the Tax Authority for the Review Period, and review the adjustments made and identify any adjustments that may need to be added. supplement to comply with tax regulations; specifically focus on indeterminate expenses that are not deductible to export further adjustments.
– Determining the CIT position, based primarily on the available tax losses and the use of the losses for the following year; and use tax incentives if any.
– Reviewing the Minutes and official correspondence between the Enterprise and the tax authority to identify the aspects that are easily noticed by the Tax Authority.
– Review, on a sampling basis, the calculation, and declaration of CIT, during the Review Stage, to ensure tax position regarding deductible expenses, revenue reporting and timely submission of CIT returns.
– Support Enterprises in calculating and making CIT finalization declarations for the review period.
– Review and check the selection of voucher samples, reporting, and archival procedures (including but not limited to, contracts, invoices, payment slips, etc.) Business translation and tax treatment.
– Identify tax problems and recommend tax optimization if any.
2. Value Added Tax (“VAT”) Review
– Review the Audit Report and the VAT Return, including additional declarations submitted to the Tax Authority for the Review Period, and review the adjustments made and identify any adjustments that may need to be added. Supplement to comply with tax regulations; special focus on indeterminate expenses that cannot be deducted for export
– Review and review of VAT declarations and payment slips made during the Review Phase on a sampling basis
– Identify material VAT-related issues and make recommendations regarding any additional VAT declaration updates as appropriate.
3. Review of Personal Income Tax (“PIT”)
– Assist in the review, based on selecting the PIT finalization declaration form, including detailed calculations and supporting documents provided by the Enterprise during the Review Period.
– Review and assess tax position for taxable and non-taxable incomes; and
– Identify the problems of PIT and propose solutions including supporting documents for the Tax Authority to accept the tax position to optimize PIT.
QPT's COMMITMENT TO YOU
– Confidentiality of information for customers, responsible for information loss.
– Cost savings compared to other service companies.
– Complete the work on time as prescribed.
– Provide timely data and necessary documents for customers.
– Timely consulting on issues related to the operation process.
TAX REVIEW SERVICES
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