Viewpoints
2019-08-22
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 […]
2019-08-22
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 […]
2019-08-08
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 […]
2019-08-08
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 […]
2019-08-08
The Employment Pass is required by foreign professionals who wish to work in a managerial, executive or specialized role in Singapore. In order to apply for an Employment Pass, the applicant needs to qualify on various parameters. 1. Package Fee for Employment Pass Application Type of Visa/Pass Fees (SGD) Employment Pass Application (per applicant) $1,500.00 Dependent Pass Application for spouse / children (per applicant) $650.00 Long Term Visit Pass Application for parents / step children (per applicant) $650.00 Renewal of Employment Pass (per applicant) $800.00 Update changes with MOM (for each transaction) $150.00 Note: (1) The fee quoted above are excluded out-of-pocket expenses or reimbursement such as translation fee, card issuance fees, MOM fee and etc. (2) All fees quoted above do not include Goods and Service Tax (Business Tax) at 7%, if applicable. (3) In the event that the application/appeal/renewal is rejected by MOM, the fees quoted above […]
2019-08-08
According to the Taiwan Company Law, when the Taiwan company have a certain business scale, they will have a certain impact on overall society. Therefore, the company with certain business scale shall engage a Certified Public Accountant (CPA) to perform the audit and certification of financial statements. By going through the auditing and the certification of the financial statements will support the quality of the accounting information and increase the credibility of the financial statements. Guided by the principle of independence, Kaizen Accounting Firm provides audit reports that meet the auditing standards issued by the Taiwan Certified Public Accountants Associations and provides audit opinions on the authenticity and equity of financial statements and accounting records, as well as the consistency of accounting process. Kaizen can provide management proposal in which to list out the existing critical problems, with improvement plan, references and suggestions, if required. Kaizen could provide our clients […]
2019-08-08
Statutory Audit Statutory audit is one of Kaizen’s main professional activities. Our highly experienced audit team strive to ensure that our clients’ financial statements meet the regulatory and business requirements under which they function. Audit is not only about control procedure or statutory obligation. Audit provide you with updated insight about the potential threats or opportunities of your business. Our extensive industry knowledge and expertise allows us to provide sound commercial advice and recommendations to you to deal with such threats and/or opportunities identified. Our auditing techniques specifically modified for Singapore Financial Reporting Standards and Companies Acts requirements. We endeavor to gain better understanding of clients’ policies and procedures, tailored our audit approach to the unique aspects of our clients’ businesses with an ultimate aim to provide the most effective, cost efficient and most importantly a reliable audit services. Special Audit Beside statutory audit, we offer a comprehensive range of […]
2019-08-08
A financial audit is conducted to provide an opinion whether financial statements are stated in accordance with specified criteria. The Securities and Exchange Commission requires that all entities that are publicly held must file annual reports with it that are audited. In accordance with the US GAAP, auditors must release an opinion of the overall financial statements in the auditor’s report. Kaizen is committed to the public interest. We have a team of professional auditors who seek to challenge assumptions and unlock valuable insights based on a thorough understanding of an entity’s business and industry, and innovative audit methodologies and approaches. Kaizen’s financial statement audit services comprise three main distinctive levels of assurance depending on your business requirements. Audits and Assurance An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general […]
2019-08-08
Bookkeeping is a tedious but essential work for every company. With a good bookkeeping practice put in place, it becomes easier to track sales, purchases, employment data and other accounting records, which, eventually helps in smooth running of the company. Bookkeeping is always referred as a non-core, but essential and can be outsource, functions of a company. Company who outsource their non-core business functions could divert their funds and manpower to the core functions to generate more returns. We, as an outsourced vendor, offer efficient and hassle-free bookkeeping services at reasonable rates and ensure your company’s accounts are well maintained. Kaizen Accounting Services We are able to assist you with a full spectrum of bookkeeping matters, including: Preparation of financial statements – monthly, quarterly and or annually Keeping full sets accounts including: 1. Balance sheet 2. Profit and loss statement 3. Trial balance 4. Bank reconciliation 5. Fixed asset listing […]
2019-08-08
Our Accounting and Book-keeping Services We provide a total audit, bookkeeping and accountancy services for various sizes of clients. We have the expertise to implement accounting systems and programs that will make your business more efficient. For those clients with no internal accounting staff or propose to outsource the services, we can provide ongoing bookkeeping and accountancy services which can be linked to the preparation of periodic tax returns, payroll services and management accounts. Clients who have their own accounting staff may require management and statutory accounts preparing from their internal records. All our bookkeeping and accounting services can be integrated with budgets and forecasts to enable you to monitor the actual results of your business. Preparation of financial statements – monthly, quarterly and or annual reporting Customer billing and invoicing Design of internal accounting systems, accounting policies and procedures, accounting manuals Accounting roles and responsibilities definition Accounting software selection […]