In the fiscal year there will be many business compliance procedures that businesses must implement.

In the fiscal year there will be many business compliance procedures that businesses must implement. Each unit must prepare and submit all forms of reporting and related procedures within a specified period to avoid penalties from state agencies. Procedures related to foreign representative offices include:

1. Tax and accounting procedures

Required work

• Compile PIT finalization documents for the office
• To compile PIT finalization dossiers for individuals who have many income sources or earn incomes from foreign countries

Things to note

• Complete the cash book and petty cash along with the voucher voucher to serve the tax examination
• Revise your tax returns and receipts
• Revise balance – tax status with tax authorities

2. Annual activity report Prepare and submit a report on the operation of the office in the year to the local office.

3. Wage labor procedures

Required work

• Signed labor contract, annex of labor contract for salary and new income for each employee in the country.
• Provide letter of appointment, letter confirming annual income for foreign workers.
• Carrying out procedures to adjust the level of claim and payment of insurance.
• Register and revise the system of wage scales, labor regulations, labor agreements … to update the new welfare regulations and policies applied at the beginning of the year.

Things to note

• Complete information on employee management books with updated content such as number of days off, overtime, discipline, salary increase.
• Make procedures to certify income, issue PIT withholding certificates to seasonal workers, employees earning directly from abroad.
• Determining the list of personnel subject to personal income tax finalization directly with tax authorities.