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Why Outsource Corporate Secretarial Services in Paraguay?

Why Outsource Corporate Secretarial Services in Paraguay?

Corporate secretarial services in Paraguay help clients to manage and alleviate risks of their business’ compliance. Paraguay is one of the most attractive countries for doing business in South America. The World Bank states that the country has a fast-growing economy with a continuous growth percentage of 4.5% over the last years. In the last two decades, Paraguay has experienced important changes in its economy, overcoming financial challenges in the 1990s and the beginning of the new millennium, and making fiscal and debt adjustments in the middle of the last decade. The country has been favored by positive external factors that added to macroeconomic stability, leading to years of notable growth in GDP and GDP per capita. We outline crucial competencies to look for in a provider of corporate secretarial services in Paraguay, and the importance of these services when expanding your business. Importance of corporate secretarial services in Paraguay The right corporate secretarial services provider supports a company’s risk management activities by enabling businesses to fulfill their corporate obligations. Setting up operations in a new country such as Paraguay is a challenge in regards to understanding and complying with new tax regulations, adapting to a new business culture and hiring the right staff. It can be time-consuming and complicated, especially when considering language and cultural barriers.  For this reason, it is vital to work with a trusted local partner to ensure that your company meets all local and international requirements. Hiring a local provider...

The Importance of an Entity Health Check in Bolivia

The Importance of an Entity Health Check in Bolivia

Understand the importance of an entity health check in Bolivia to secure your business and manage risk. Bolivia is an attractive country for executives looking to expand in the Andean country. However, local and strict regulations may add a layer of complexity. As such, it is essential to understand the business conditions and corporate compliance requirements to properly develop your company in Bolivia. This includes conducting an entity health check in Bolivia. How does an entity health check work?  An entity health check is an audit carried out by a third-party to verify its local corporate compliance. An entity health check in Bolivia involves the verification that company administrators and employees are fulfilling legal and fiscal obligations. What kind of audits are involved in an entity health check in Bolivia? An entity health check verifies legal and fiscal obligations. Legal and fiscal obligations are the most important aspects to check in a company established in Bolivia. These provide essential information about a company's status. Likewise, the audit will conclude if the business obligations are according to local laws. There are multiple kinds of audits involved in an entity health check in Bolivia, these include: Legal auditing  The moment a company is constituted in Bolivia, it must fully comply with all legal obligations. Some of these obligations are: Registry of Commerce: Companies must have a trade registry number to operate with legal domicile in Bolivia.Company books: Once a company is constituted, company books must register all the...

How the Mexican Electronic Accounting and Auditing System Could Affect You

How the Mexican Electronic Accounting and Auditing System Could Affect You

In 2015, the Mexican Tax Administration Service (SAT) implemented a mandatory electronic accounting system for the financial sector. This affects corporations and individuals with incomes over four million Mexican pesos. The electronic accounting system obliges individuals and businesses to carry out their monthly accounting records electronically. In 2016, this obligation was extended to: Taxpayers with an income of less than four million pesos of taxable revenue for 2013 Taxpayers engaged in farming, forestry or fishing Non-profit taxpayers Taxpayers who have signed the Federal Taxpayers Registry (RFC) in 2014, 2015 and 2016. Those exempt from performing electronic accounting are: Workers with a salary Taxpayers who register their operations in the portal "My Accounts" in SAT   Mexican Tax Audits It is worth mentioning that those who fail to comply with sending electronic accounting will be fined between $ 5000 and $ 15000 MXN. The implementation of this system goes hand in hand with an increase in electronic audits in August this year, especially those related to actions erosion of the tax base and the transfer of profits. The fight against Base Erosion and Profit Shifting (BEPS) is an international initiative that seeks to combat tax evasion of large companies. It is led by the Organisation for Economic Co-operation and Development (OECD) and the leaders of the Group of 20 (G20).   If SAT identifies any irregularities in the accounts or determines that there are tax omissions, the company will be notified that an an audit will need to occur. The taxpayer...

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