corporate secretarial corporate secretarial corporate secretarial corporate secretarial corporate secretarial corporate secretarial corporate secretarial corporate secretarial
Business Establishment & Liquidation
Bookkeeping & Financial Reporting
Prepare vouchers for cash receipts and disbursement transactions
Prepare and maintain accounting records including journal entries, general and sub-ledgers etc.
Prepare various financial reports such as AR & AP aging report, inventory report etc.
Perform monthly closing of general ledger and prepare monthly financial statements in compliance with the Korean GAAP
Report financial package to the head office or parent company
Payroll & Statutory Social Insurance Administration
Maintain payroll records for all concerned employees
Prepare monthly payroll report
Prepare monthly pay slip and distribute to each employee
Arrange for the deposit of net monthly salaries to each employee’s bank account
File monthly payroll withholding tax return with the tax office together with the tax payment
Perform year-end settlement of exact payroll withholding taxes
Compute severance payments and income tax thereon for terminated/resigning local employees
Statutory Korean social security schemes related assistance
Tax Filing & Consultation Services
■ Tax filing service
- Prepare and file the quarterly VAT Return with the tax office
- Prepare and file the Corporate Income Tax Return with the tax office
- Prepare and file the Individual Income Tax Return with the tax office
- Prepare and file the Withholding Tax Return on interest, dividend, royalty and other income
- Prepare and file the amended tax return and claim for rectification
- Review of the issues with regard to tax exemption and tax credit/deductions
■ Consultation services on various taxation matters
- Provide taxation strategies regarding the establishment/liquidation of a corporation, restructuring of a corporation, share transfer etc.
- Provide advices on the international taxation pertaining to
– Permanent establishments
– Tax treaty and avoidance of double taxation
– Transfer Pricing (TP) taxation
– Thin capitalization taxation
– Tax haven issues
■ Tax audit support and other services
- Legal advice and support on tax audits
- Support for filing of tax appeals with competent tax authorities
- Perform preliminary tax reviews for potential tax risk identification and in preparation for a future tax audit
- Obtain tax rulings from the tax authorities for settling disputes
- Represent the company with the Office of National Tax Service and District Tax Office regarding all tax related matters
Corporate Secretarial & Management
■ Annual Corporate Secretarial Service
- Prepare minutes of annual general meeting of shareholders/members
- Custody and maintenance of corporate legal documents and materials
■ Modification of registered items with relevant governmental authorities as follows:
- Name of the company
- Address of principal office
- Representative director / Director / Auditor
- Capital injection or reduction
■ Management
- Document storage
- Opening bank account
- Reporting intercompany loan to the relevant authorities
Other Services
■ Cash management & Payment Administration
- Manage the Client’s bank account and arrange disbursements including payment of salaries, payment to vendors, settlement of petty cash replenishment vouchers etc.
- Obtain bank statements and perform bank reconciliation
- Prepare and submit regular/non-regular cash balance report and fund request to the head office
- Keep bank related documents in line with the internal control system
■ Issuance of Electronic Sales VAT invoice
- Support issuance of electronic sales invoices which should be issued to the other transaction party when a registered taxpayer supplies goods or services
■ Others
- Visa application service for the expats and his/her dependents
- Financial audit support (external regulatory and internal)
- Change of a legal entity type
- Assist in preparation and submission of various special documents and reports to the tax office and other relevant authorities
- Other ad-hoc services as per the clients’ request