Employer’s Return (ER)
Filing Employer’s Return The Employer’s Return for the year of assessment 2003/2004 was issued to all employers on 2 April 2002. All employers are required to furnish the return within one month from the date of issue. That is, the return must be furnished on or before 1 May 2004 unless an application for extension in writing is filed with the Inland Revenue Department (IRD) on or before 1 May 2004. A complete set of annual employer’s return of remuneration and pensions contains a form BIR56A and forms IR56B. Before you complete the return, you should read carefully the “Notes and Instructions” given on the form BIR56A. A “NIL” return of BIR56A is still required even if you have no employees or pensioners chargeable to Salaries Tax. To avoid duplication in reporting employee’s income, no annual return form IR56B is required for those employees whom a form IR56F or IR56G […]
Introduction to Seychelles
General Information One thousand miles from the African coast in the western Indian Ocean at the crossroad of Asia and Africa, Seychelles?115 islands, located between 4 and 10 degrees south of the equator, offer a diverse range of experiences – white sandy beaches, verdant mountains, and luxuriant forests. Within this seemingly enchanted, pristine world you can enjoy snorkelling on coral reefs, trekking, bird watching, diving and fishing amid unique, natural surrounds. Far away from the hustle and bustle of a busy world, Seychelles has retained a soulful way of life which is vibrant, captivating and still wonderfully authentic. This archipelago of legendary natural beauty comprises 41 of the oldest mid-oceanic granitic islands on earth which, together, constitute the Inner Islands, of which Mah? the principal island and home to the capital, Victoria, together with its close neighbors, Praslin and La Digue, are the most prominent. A sparkling collection of low […]
Singapore EntrePass Application Fee
1. Singapore Entrepass Application The EntrePass is for foreign entrepreneurs who plan to set up a business in Singapore. The entrepreneur has to be actively involved in running the business in Singapore. Candidates can also apply for this type of pass in case they registered a business in Singapore not longer than 6 months ago with the Accounting and Corporate Regulatory Authority (ACRA). Kaizen assists you in the development and compilation of all necessary documents and forms for the EntrePass. We will then process your application with the Ministry of Manpower in Singapore. The process will take 3-4 weeks. 2. Our fees Our fees for handling the applcaition for Entrepass is SGD1,500 excluding any out-of-pocket expenses. Please note a Business Plan is required to be submited for this purpose. We can draft the business plan for your for a fee of SGD1,000. The total in this case therefore would be […]
Our Other China Business Services
Working Visa Application and Renewal A valid visa ensures your entry and a legal stay in China .. To apply or extend a visa for your expatriate employees, you need to go to different government bodies, such as the labor authority, public bureau, etc. Our people can assist you in handling these documents and procedures, enabling you to focus on your business development. Employment Contract You may have an employment contract template at your head office. However, you can expect many differences between it and a “should-be” employment contract as required by Chinese law. A well-structured employment contract can not only protect you and your employee’s interests, but also avoid any unnecessary penalties due to failure of compliance of prevailing Chinese labor laws and regulations. Our experts who are versed in Chinese labor and tax laws can either draft an employment contact for you from scratch or review your employment […]
Claim for Profits Tax Exemption in Hong Kong
Hong Kong is famous for its low tax rates and territorial taxation principle. In accordance with the territorial taxation principal, only profits arising in or derived from Hong Kong are chargeable to Profits Tax, currently at the rate of 16.5%. Profits derived from or sourced from other places outside Hong Kong are not taxable, or, free from profits tax. Possibility of Tax Exemption Claim Under the territorial taxation principle, it is possible and legal for your Hong Kong company to have its profits totally exempted from tax. (1) Trading Profits In determining the locality of profits derived from a Hong Kong business, the Hong Kong Inland Revenue Department (IRD? will look at what the taxpayer has done to earn the profits in question and where he has done it. If the contracts for purchase and sale are initially negotiated, concluded and subsequently executed outside Hong Kong, there are grounds to […]
Hong Kong Tax Filing Services – for Individuals and Corporations
Normally, a tax return for each year of assessment will be issued to individuals, sole proprietor, partnership, property owner, limited company incorporated in Hong Kong, and company incorporated elsewhere but with a business establishment in Hong Kong. Individuals and companies must fill out the return and submit them to Inland Revenue Department within one month from the date the return is issued or other dates as specified in the tax returns. Preparation and Filing of Tax Return Basic Service Charges salaries tax return from HK$300 property tax return from HK$300 sole proprietor (salaries tax or profits tax return) from HK$500 partnership (or salaries tax or profits tax return) from HK$1,500 limited company (profits tax return) from HK$3,000 The actual amount charged will be varied on the basis of the nature of business, volume of transactions, the scale of business etc. We will prepare the necessary supporting documents, prepare the […]
Hong Kong IRD Tax Investigation Services
Tax investigation and field audit are methods of investigation set out by the Hong Kong Inland Revenue Department when they are having doubts regarding the sources of income, the completeness and accuracy of the tax returns filed by taxpayers. Authorized under the Inland Revenue Ordinance, the assessing officer is empowered to investigate the taxpayer. The general scope of the investigation is very broad, including companies, individuals, and even family members of the taxpayers. Kaizen has a professional team with extensive knowledge of Hong Kong tax laws and many years of successful experience. Kaizen provides comprehensive assistance to its clients, wide range analysis and recommendation. Our professional tax services can save you valuable time and unnecessary financial costs by providing comprehensive plan to solve the past tax issues and also reduce the future risk of tax related problem. Our Hong Kong Tax Investigation Services IRD Procedure Kaizen’s Role Taxpayer receiving the […]
Audit and Assurance Services
Statutory Audit Statutory Audit is a kind of compulsory auditing required by law of the jurisdiction where a company is registered. For example, the Chinese company law requires that a foreign invested enterprise should engage a firm of practising accountants in China to perform an audit of its annual financial reports. Also, in accordance with Hong Kong “Companies Ordinance”, a company limited shares registered in Hong Kong shall appoint Certified Public Accountants to conduct auditing every year. The auditor shall conduct auditing on the profit and loss statement, balance sheet, and relevant receipts according to the auditing standards. They shall also comment on whether the accounting system formulated by the enterprise complies with the GAAP and its effectiveness in the actual application process. Guided by the principle of independence, the audit team of Kaizen provides annual auditor’s reports that meet the auditing standards for the enterprise, and provides audit opinions […]
Our China Payroll and HR Services
Payroll & Benefits Administration Services This is the most commonly outsourced HR function and involves monthly payroll processing as well as the calculation of monthly employer and employees’ social benefits contributions to the relevant Chinese authorities. Kaizen assists businesses in China in the following areas: Social security accounts initial setup Payroll calculation and distribution in RMB Social benefits filing and payment on monthly basis e-payslip self-service Personnel file maintenance / update Hiring / termination registration Salary statistics reporting Yearly base adjustment for social insurance Yearly base adjustment for housing fund HR Administration & Consulting Services China’s employment environment is complex due to the need to integrate national laws and local policies. Kaizen helps businesses develop internal HR policies, induction kits, handbooks, etc., as well as assist the clients in the following areas: Work Permit (WP) and Residence Permit(RP) application services for expatriates F Visa application Labour contract / secondment agreement […]
Our Taiwan Payroll and Human Resources Services
Payroll & Benefits Administration Services We could provide monthly salary calculation and distribution services for Taiwan enterprises, including calculation of labor insurance, National Health Insurance, labor pension and employee salary in accordance with the regulations and declared to the government department. Kaizen could provide the following services: Payroll Calculation Services Setup Insurance Unit and Update the Employee Insurance Information Payment of Tax and the 2nd Generation of the National Health Insurance Filing of the Withholding Income Tax Assistance with Collection and Payment of the Salary Sending the Pay Advice to the Employee through Email Maintain and Update the HR Information Payroll Statistical Report Services HR Administration & Consulting Services In order to comply with the Labor Standards Act in Taiwan and other relevant regulations, we could provide consulting services relevant with the labor contracts and human resources contracts. Kaizen could provide the following services: Application for the Foreigners Work Permit […]