Ensuring compliance with accounting and tax regulations is crucial for every business. In Vietnam, where accounting and tax policies are frequently updated, maintaining compliance can be challenging. Without a professional team of accounting or tax experts, companies may struggle to keep up with legal changes, affecting financial operations and posing significant legal risks.

Common Issues Faced by Enterprises and Organizations Regarding Accounting Systems

  • Complex and Disorganized Accounting Records:
    Accounting systems often suffer from complexity and lack of systematic organization, making it difficult to manage important documentation. This can lead to issues in retrieving invoices and increase the risk of document loss or confusion.

  • Inaccurate Accounting Entries and Improper Handling of Transactions:
    Businesses frequently encounter problems with incorrect transaction recording or improper handling of accounting procedures.

  • Delayed Updates on Tax Regulations:
    Accounting departments may not keep up with the latest circulars, decrees, and tax policies, resulting in incomplete records and serious errors in financial reporting.

  • Lack of Focus on Accounting Knowledge in New Enterprises:
    Newly established businesses or those lacking thorough accounting knowledge may neglect proper practices, leading to compliance issues and impacting future operations.

KMC’s Review of Tax Diagnostic and Compliance Services

To address these challenges, KMC offers comprehensive Review of Tax Diagnostic and Compliance services. Our expert team helps businesses ensure that all accounting activities adhere to the latest regulations and optimize financial management.

Advantages and Benefits of KMC’s “Review of Tax Diagnostic and Compliance” Service

  • Comprehensive Compliance Support:
    We assist businesses in fully adhering to legal regulations concerning accounting and taxes, minimizing legal risks and avoiding unnecessary penalties. This support helps businesses improve financial efficiency and long-term stability.

  • Immediate Error Detection and Correction:
    Our team identifies and rectifies errors in accounting records and reporting processes promptly, preventing adverse impacts on business results and reputation.

  • Enhanced Accuracy and Transparency:
    By improving the accuracy of tax declarations, we enhance the financial management process and your company’s reputation among partners and regulatory bodies.

  • Rigorous and Scientific Process:
    Our service is conducted through a meticulously designed process, ensuring every activity meets high-quality standards and legal requirements.

  • Optimal Resource Management:
    KMC provides a solution to optimize time and resources in reviewing accounting records, supported by our experienced experts who ensure accurate checks and corrections.

Our Services Include:

  • Consultation and Scope Definition: Discuss with the client to understand concerns and propose detailed solutions and scopes of work.
  • Document Collection:Exchange with the client’s accounting department to collect all tax filings for review.
  • Documentation Assessment: Review financial statements, tax returns, and relevant correspondence.
  • Tax Compliance Review: Assess the company’s tax compliance status, checking for accuracy and identifying areas for improvement.
  • Transaction Review:Ensure transactions are eligible for tax expenses or refunds and reconcile tax figures against accounting figures.
  • Sample Transaction Checks: Review a sample of transactions to verify supporting documents and ensure they reflect the transactions accurately.
  • Misstatement Identification: Identify any misstatements in tax filings and propose adjustments and solutions.
  • Reporting and Recommendations: Prepare and send a detailed report to the client, providing explanations as needed, and send a recommendation letter on tax information systems, procedures, and benefits.

For professional assistance with tax compliance and diagnostic services, contact KMC today. Let us help you navigate the complexities of tax regulations and optimize your financial management.

Other Services

Accounting Advisory

KMC provide professional initial accounting and tax registration services, you shall not bother about issues related to tax and accounting after post license. Our team with high expertise and many years experiences will support and accompany you.

Tax Advisory

Our tax services rely on our local knowledge to ensure tax compliance, tax administration and dealing with tax authorities. We assist you by taking into account the latest regulations thus ensuring full tax compliance and optimization.

Business Advisory

KMC believes in an approach to our client, as we familiarize ourselves with all aspects of your business and the environment in which you operate, it enables us to propose you the most appropriate plan at a competitive service fee.

Mergers and Acquisitions (M&A) Advisory

Our global network in combination with our deep industry knowledge means that we can help companies identify other businesses that offer a good strategic fit and assist them with acquisitions, mergers and alliances that allow them to maintain and build their competitive advantage.

Transfer Pricing Advisory

Transfer pricing refers to the rules and methods for pricing transactions between related entities, typically within multinational companies. Currently, regulations on compliance of transfer pricing are very complexly and strictly.

Annual Consulting Services

KMC has the expertise with experienced resources, including lawyers, auditors, accountants who have many years of experiences working in the investment, accounting, taxation and labour consulting fields.

Other Services

Besides Accounting, Taxation, Business Services, etc. KMC also has efforts to provide other services to Clients related to business activities of the enterprises in Vietnam.