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Annual tax reports are  a document of legal business entities required to file with the information of their formation state in which they are qualified to run business. The purpose is to provide the public, investors, the filing office and other government bodies with the data necessary to locate and communicate with companies running business in the state.  Submitting such information to tax bodies are called annual tax reports. As a rule, the document is presented to the filing office once a year.  Generally, annual reports include a business name and address, a list of officers and directors, all business activities conducted during the fiscal year, the name and contact information of the registered agent.

States impose a reporting obligation on business entities and entrepreneurs penalizing companies and individuals for not complying with the tax law and regulations. That is why, it is very important to know this compliance requirement.

What is tax optimization? It is a part of making tax planning by reducing or eliminating your tax liability through tax-efficient choices. It is important practice to ensure the financial stability and longevity of the business. If you find the most efficient and legal solutions to estimate and pay taxes, you will be able to improve the financial position of your business. While planning your taxes you try to optimize your burden by taking measures in a lawful way aiming at increasing revenue and cutting down tax bill. Tax optimization is the way of making choices leading to the best outcome for your present and future tax liability.

Annual reports are to be submitted to the tax office before a fixed calendar date. Some states require annual tax reports in paper form or electronically, but some accept only reports filed electronically. There is deadline for annual reports, so, filing annual taxes should be done in a   timely and proper manner, and that is why they have to be completed carefully without errors or mistakes.

While submitting annual tax reports you need a number of documents to be presented to the tax office. Sometimes, the filing office may require additional information or documents to aid in the filing process. When companies or entrepreneurs do not comply with the annual report requirements the states impose penalties. So, just delivering the annual tax reports to the filing office is not enough, as your mistakes can lead to the rejection of your filing. That’s why you should be very careful while preparing the annual reports. There are some common mistakes done by companies and entrepreneurs while submitting the annual reports; filing an incomplete report, paying the incorrect fee or using an incorrect payment method, having the report signed by someone who is not authorized to do it and so on. Sometimes, the state often change their requirements:  changes in dates, fees, required documents.

Most tax reports are executed online using tax software or e-file services. While filing taxes online the software program can help you and even direct. But it does not mean that you will not do errors or mistakes.  To avoid serious penalties you should take all necessary measures to ensure the report to be delivered properly.

Would you like to avoid all these problems and your tax report to be submitted timely and correspondingly? You have one of the best opportunities in Kyrgyzstan, i.e. using outsourcing services of international Financial Chain Corporation’s Bishkek office. Let the professional staff help you to file your annual tax report timely and according to the legislation.

It provides complex services in preparation of tax reports and tax optimization in Kyrgyzstan.  The entrepreneurs are very interested in this service, as the core task of any successful businessman is to increase revenues and decrease costs while running business.

FChain Bishkek provides high quality services in tax consulting, tax planning, tax optimization, preparation and submission of reports to companies of any size and form. You may rely on complete confidentiality, high quality of work executed by the experts of FChain Company. Besides, the branch guarantees the work to be done ensuring safety of the companies from tax risks, i.e. penalties, fines, suspension of transactions on current accounts and other adverse effects.

The Bishkek office offers high-level tax planning and tax optimization under the Kyrgyzstan legislation in force. A team of professional and skilled experts of FChain Corporation carries out a number of services including tax related ones:

• analysis of primary and other reporting documents, identification and elimination of errors and mistakes, systematization of reports;
• payroll analysis for each employee, detecting of incorrect charges and taxes with their further correction, rendering these service in a manner of full confidentiality and privacy within the company:
• preparation of declarations, financial ,statistical, income tax and VAT reports, and social contributions;
• timely submission of reports and declarations to corresponding authority;
• analysis of the current taxation, choosing the best scheme and ways to reduce the tax burden and increase the income of your business;
• a professional and corresponding consultation on tax optimization and tax planning and so on.

FChain Bishkek specialists and experts will relieve your burden from time-taking work and give you opportunity to save your time, money and energy entrusting some of your company functions to the professional team. Do not miss high quality services by Financial Chain Corporation’s Bishkek office for reasonable price.

https://www.wolterskluwer.com/en/expert-insights/annual-report-filing-requirements

https://cleartax.in/g/terms/annual-report

https://kg.f-chain.com/en/reporting-and-tax-optimization-in-kyrgyzstan/