Corporate Service
Taiwan Incorporation Payroll Services
Taiwan Incorporation Payroll Services 1. Employees Payroll Basic Services and Fees No. Description Duration 1 Calculation of staff labor insurance Monthly 2 Calculation of staff health insurance Monthly 3 Calculation of staff retirement pension Monthly 4 Calculation of staff salary Monthly 5 Prepare payroll slip of employee, provide a total amount of monthly salary to the accounting staff to release the salary Monthly 6 Prepare pay advice of each employee Monthly 7 Send the pay advice to the employee through email individually (Client please provide the email address of employee to us) Monthly 8 Declaration of withholding and non-withholding statement Yearly 9 Prepare and print withholding statement Yearly 10 2nd Generation of National Health Insurance Service (NHI) (1)Recognition of items to be deducted Monthly (2)Calculate 2nd Generation NHI payable by employer and employee and prepare the insurance payment slip Monthly (3)Prepare 2nd Generation NHI withholding statement, for employees […]
Foreign Company Taiwan Branch Compliance and Maintenance Guide
Foreign Company Taiwan Branch Compliance and Maintenance Guide Unless otherwise stated, the foreign company Taiwan Branch stated in this quotation referred to the limited company incorporated under the Taiwan Company Act and Business Registration Act. The compliances in this Guide are applicable to limited company as well. When a foreign company Taiwan branch is established, in accordance with the provisions of Taiwan Company Act, the company must always have a Taiwan address for company registration, prepare annual business report, prepare financial statements, tax declaration in every two months and hire an accountant to audit its annual financial statement, etc. This Guide is divided into 6 sections, mainly introduce the various declaration, maintenance responsibilities and related expenses after the establishment of a foreign company Taiwan branch. Section 1 -5 mainly describe the maintenance and compliance requirements for a Taiwan branch, while Section 6 shows the minimum necessary fees […]
Financial Statement Audit Service Fee Schedule
Financial Statement Audit Service Fee Schedule 1、 Timeline Month Services Action to be taken by client Oct ~ Dec ※ Arranging working field period before year-end. ※ In response to working field period, preparing for data and document. Dec ※ According to the date of inventory physical count of the client, auditors will observe the physical count procedure on the same day. ※Receiving the blank confirmation letter has been stamped by the client. ※ Arranging the date of inventory physical count and give auditors a notice in the earlier. ※Stamping the confirmation letter. Jan (Next year) ※ Sending the confirmation letter out base on client book balance of bank account、A/R、A/P、 Deposit balance、investment account and lawyer’s name and address etc. ※ Providing the book balance and contact window of bank account、A/R、A/P、 Deposit balance、investment account and lawyer’s name and address etc. on 31st Dec. before 5th Jan. Feb ~ May (Next […]
U.S. Employer Identification Number Application Procedures and Fees
U.S. Employer Identification Number Application Procedures and Fees Our service fee for handling the EIN application is USD300. The Employer Identification Number (EIN), also known as the Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number (FTIN), is a unique nine-digit number (for example, 12-3456789) assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for the purposes of identification. EIN just like a Social Security Number (SSN) for your personal identification number. The EIN number allows you to communicate with the Internal Revenue Service (IRS) in the dealing of all the tax matters of your company. You may also need EIN for bank account opening, business license application or other reasons. The EIN is issued by the Internal Revenue Service (IRS) upon application. You can apply for EIN via website, fax or mail. Expedited service is not available. To complete […]
U.S. Individual Taxpayer Identification Number Application Procedures and Fees
U.S. Individual Taxpayer Identification Number Application Procedures and Fees In the United States, to facilitate tax collection, the Internal Revenue Service (IRS) requires that it is necessary to submit corresponding tax identification numbers when filing federal tax returns. If you plan to open a corporate bank account or a personal bank account in the United States, the tax identification number of the company’s responsible person or individual is also one of the required documents. Individual identification number includes Social Security Number (SSN) and Individual Taxpayer Identification Number (ITIN). Social Security Number (SSN) is the tax identification number for individuals who are U.S. citizens, U.S. green card holders, or temporary working residents. SSN is nine-digit numbers issued by Social Security Administration (SSA), similar to the “ID card number” which is issued by China. Individual Taxpayer Identification Number (ITIN) is the tax identification number for individuals who are not […]
Open U.S. Business Bank Account Remotely （For Existing Company）
Open U.S. Business Bank Account Remotely （For Existing Company） U.S. business bank accounts, also known as commercial bank accounts or business bank accounts. Kaizen can offer the opportunity for foreign investors to open U.S. business bank accounts remotly for their U.S. companies. For exsiting U.S. companies, the owner can cooperate with Kaizen to open the U.S. business bank account remotely instead of visiting U.S. in person. Features of U.S. Business Bank Account (1) Open the U.S. bank account within 2 business days; (2) Only need USD 5,000 for initial deposit; (3) Low account maintainance fee to reduce account management cost; (4) Service includes checking and saving accounts opening and a free checkbook gift; (5) In additional to USD accounts, clients can also apply for muti-currency accounts to support major settlement currencies in the world (EUR, HKD, GBP and etc.); (6) Open the online banking and mobile banking […]
Introduction to Individual Income Tax in Singapore
Introduction to Individual Income Tax in Singapore Singapore has one of the lowest tax rates in the developed countries and is considered as “a global legal tax haven”. Singapore’s low tax rate, and its favourable tax policies, stable living environment have made the Singapore business environment even more attractive to global investors. The highest corporate income tax rate in Singapore is 17%, the highest Individual Income Tax rate is 22%, and there are no capital gains or inheritance taxes. This article will give a brief introduction to the tax principles, tax rates, the definition of tax resident and the filing requirements of Individual Income Tax in Singapore, and will be provided as a reference for Kaizen’s clients who are considering investment and immigration to Singapore. In revising this article, we have taken into account the laws and regulations in force as of 28 February 2020 and the relevant policies […]
Vietnam Company Annual Compliance Requirements and Fees
Vietnam Company Annual Compliance Requirements and Fees This guide provides a summary of the various maintenance and compliance requirements for the Vietnam Company that incorporated in accordance with the Vietnam Investment Law 2014 and an estimation of the costs likely to be incurred to comply with those requirements. Section 1 is about the preparation of the monthly financial statement of the Vietnam Company. Every Vietnam Company is required to prepare a financial statement every month and submit the financial statement to the Department of Taxation in Vietnam. Section 2 and Section 3 describes the information of Corporate Income Tax (CIT) and Value-Added Tax (VAT) of the Vietnam Company. Section 4 of this guide states the requirement of the Annual Audit for the Vietnam Company. Section 5 states the requirements to employ employees in Vietnam, including the introduction of social insurance, medical insurance, unemployment insurance, etc. Section 6 lists out […]
General Guide to Director’s Liability in Australia
General Guide to Director’s Liability in Australia When a director breaches a duty in Australia, the consequences depend on whether it is a general law duty or a statutory duty that is breached, and also what sort of remedy is being sought. A breach of a statutory duty may be so serious that a civil or even criminal penalty is imposed on the director. Summary 1. Business Judgement Rule Defence The narrow business judgment rule defence applies not only to the obligation to act cautiously, but also to the satisfaction of similar obligation in common law and in equity. The business judgment rule relates to a decision making, not only for an unintentional inaction. Therefore, the directors will need to make or avoid from making a decision. If they refrain from making a decision, that must be a considered action. The fact that all the criteria for the defence are […]