Bookkeeping- Tag Archives - Business News and Updates


Find the latest Legal updates and changes, industry reviews, regulatory updates, expert legal and accounting advice, Q&A with experts, and much more content.

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...

Expand Your Business with a Secretarial Services Provider in Ecuador

Expand Your Business with a Secretarial Services Provider in Ecuador

Engaging with a secretarial services provider in Ecuador is a crucial step for multinationals expanding to the Andean country.  Although economic growth was slow last year, the ambitious tax and tariff reforms implemented in 2019 contributed to better management of the country's fiscal budget, which is key for Ecuador. In addition, the World Bank estimates an economic growth recovery for 2020. Entrepreneurs operating in or seeking to expand to Ecuador must engage with a professional secretarial services provider to guarantee full fiscal and legal compliance. In this article, we list crucial competencies that you should look for in a secretarial services provider in Ecuador for your expansion. You secretarial services provider in Ecuador must offer bookkeeping services Bookkeeping is the process of recording your business’ financial transactions on a daily basis. It’s the backbone for creating your business’ financial statements.  Making sure your financial statements are accurate is crucial, as they will be filed before the Internal Revenue Service of Ecuador (Servicio de Rentas Internas del Ecuador, SRI). Your secretarial service provider in Ecuador will guarantee that your business is compliant with all tax regulations while managing them efficiently.  In Ecuador, businesses must file monthly and annual taxes to SRI. Tax obligations vary per industry, but the general tax obligations include your business’s value-added tax (VAT), different withholding taxes and income tax. Payroll processing A key service that your secretarial services provider in Ecuador...

What Are The Business / Company Accounting and Taxation Requirements in Chile?

What Are The Business / Company Accounting and Taxation Requirements in Chile?

Chile offers many opportunities for business from its attractive mining industry to its growing startup environment. The Chilean business environment is also attractive to foreign investors. It has an economy with positive growth perspectives, a business-friendly president and well developed financial markets. However, to do business in Chile, one must be aware of the local business/company accounting and taxation requirements. Keep reading and ensure you stay compliant with the Chilean authorities!  Principal Administrative Formalities Before Starting Commercial Operations? Every individual and company needs to obtain a tax ID number (R.U.T.) to be able to operate business activities. This taxpayer number is granted when the individual or company is registered by the Internal Revenue Service. A declaration of the initiation of activities must be made to the Internal Revenue Service within 2 months after initiation of operations. A commercial license from the Municipality must be obtained. In some cases, companies need special permits which depend on the sector and nature of its activities. Examples of these permits are health permits (SNS), environmental permits (SESMA), foresting permits (CONAF), agricultural and livestock permits (SAG), mining permits (SERNAGEOMIN), marine permits (DMM), air navigation permits (DGAC), telecommunications permits (MTT) and others. Bookkeeping Requirements in Chile? An entity's financial year cannot be longer than twelve months and its end day may be freely chosen by the shareholders. Nevertheless, regarding tax purposes, the December 31...

Pin It on Pinterest