We (CBS) can help provide
Accountancy services, Auditing, Tax advising and More Services below
List of Services
Accounting Services
We provide business start-up consulting and general business consulting, financial statement preparation: reviews and compilations, income tax planning and consulting, monthly, quarterly, and annual financial reporting statements, business management and accounting assistance.
We provide our clients with value integrated accounting and outsourcing accommodations and services including tax, assurance, financial and valuation accommodations for your business. We specialize and concentrate in providing accounting solutions to certified service organizations. We offer a wide-ranging services to meet our clients’ needs and wants.
Internal audit services
We provide to the audit team objective assessment on the state of the organization’s risk, governance, control and observing activities.
We can also be the brilliant advisor and provide critical services that are incorporated into each of the audit team’s activities and processes by working with a strong partnership, strong trust between the interior auditors and the audit team.
The mission of the internal audit services is to issue independent audit opinions on the quality of management and internal control systems of the company or business.
We are able not only to provide internal audit services but also to set up whole internal audit department to fit with your company’s operations and train internal audit department of the company.
Benefits of having a good system of internal controls in the company are
- To protect company’s assets and reduce the possibility of fraud
- To improve efficiency and effectiveness in business operation
- To increase financial reliability and integrity of the company
- To ensure compliance with Laws and statutory regulations
- To establish monitoring procedures
HR & Payroll Services
We provide hr consulting team to help you to accumulate policies, orientations, expectations, onboarding instructions and essential hubs for your teams and employees to get career development resources, benefits enrollment, time reporting and more services which would be modified to your evolving business needs.
We’ll also provide payroll services such as payroll tax statements, payroll calculations, year-end taxes, issues of employment contracts, fitting reports within deadlines set in arrangements and formation of pays on payrolls.
Liquidation Services
Company liquidation is the process of closing down a company. It is an event that usually occurs when a company has no money to pay its remaining debt. When the company operation ends, usually the organizational assets are distributed to creditors and shareholders, based on their priority of claims.
In general, the person who conducts the overall liquidation process is called liquidator. A liquidator is appointed by the court or the shareholders of the company, according to the type of liquidation.
Types of Liquidation
Company liquidation may be of the following two types:
a. Voluntary Liquidation
In case of voluntary liquidation, the shareholders of a company will decide to wind up the company as they are unable to pay for creditors. In this type of liquidation, priority is given to the creditors.
b. Compulsory Liquidation (wound up by the Court)
Compulsory liquidation is a type of company liquidation which is put forward by court order if the Court is of opinion that it is just and equitable that the company should be wound up. Here, the assets of the company are distributed to the creditors and contributors based on the priority of claims.
c. Liquidation subject to the supervision of the court
The Court may make an order that the voluntary winding up shall continue when a company has by special resolution resolved to wind up voluntarily, but subject to the supervision of the Court.
MIC permit and endorsement application
MIC permit is required for businesses that are
- Strategic for the Union of Myanmar
- Large capital intensive projects
- Projects which have a large potential impact on the environment and local society
- Use the state-owned land and Building and
- Designated by the government to require the submission of a proposal to the Commission.
Business or investment that do not fall under 5 categories above do not require a MIC permit but would need to submit MIC endorsement application.
The following procedures are the general step of MIC permit application.
- stage 1-collect information from dica
- stage 2-prepare documents
- stage 3-review by dica proposal assessment team (pat)
- stage4-review by myanmar investment commission (mic)
- stage 5-obtaining results
Business planning and advisory
We can help with accomplishment and achievement of all essential elements of a business plan necessary to secure for those who needed to support required investments and expedite interdepartmental collaboration and cooperation.
We can help by providing detailed advice depend on project scope, nature of investment and timing of investment in terms of tax connotation and associated law and regulations.
Company formation
We provide the effective company formation process by helping to hold the application of the corporate business law.
To classify about the essential step to company formation, to identify about the legal formalities that is required for the formation of company and to see what the critical documents are concerning to the company formation.
Tax compliance services
We provide actual constructing and the greatest solutions regarding your tax compliance obligations with a wide range of services such as regular audits and managing reviews, tax coordination of foreign activities, commercial income tax compliance, tax consulting and support.
Instant access to reliable information and supporting during the client’s year-end tax audit.
Tax Advisory
We provide tax advisory service by evaluating financial and tax complications. Framing solutions and making recommendation intended to provide guidance and advice on taxation for clients ranging from individuals to business.
We can help the clients’ business goals into targeted action steps intended to maximize the tax position.
Corporate secretarial services
CBS can assist clients to meet all of their compliance and secretarial requirements by ensuring that their records are professionally maintained and kept up to date and all of their statutory filings are made to comply with Myanmar Company Law 2017.
We regularly provide clients with updates on changes in Myanmar company law relevant to their business and by advising them on how to implement required standards in order to avoid any penalty.
According to Myanmar Company Law 2017, a company may appoint a company secretary and have a common seal. Every company must comply with the various corporate secretarial obligations. Below are the example of company secretarial services in Myanmar include but are not limited to.
- Setting up statutory books and registers in accordance with the requirements stipulated in the Companies Law (2017)
- Custody and maintenance of statutory books and registers (preparation and maintenance of notices, minutes, and other documents pertaining to directors’ and shareholders’ meetings, to be kept in the Minute Book of the Company)
- Preparation and lodging of all prescribed forms and requisite documents with DICA. E.g. .Notices, minutes of meetings, and other documents pertaining to directors’ and shareholders’ meetings (Annual General Meeting and Extraordinary General Meeting), etc.
- Alteration of constitution
- Annual return
- Appointment, resignation, removal or cessation of directors
- Appointment, resignation, removal or cessation of secretary
- Change of address
- Change of Company’s name
- Change of Company’s type
- Issue of new shares
- Transfer of shares
- Opening of bank accounts and managing changes to bank signatories
Please contact us if you have any further questions about our company secretarial services in Myanmar.
IFRS conversion services
We provide to prepare financial proclamations and revelations to meet requirements, to assist and support with accounting systems, to assist with stakeholder infrastructures, to provide directed training for accounting personnel and to determine modifications necessary to bring the financial reporting in line with the suitable foundation of accounting.
Business valuation services
We can provide business valuation which will include the facility of either valuation consulting services or valuation advice for the valuation of corporate business interests or business enterprises.
Those analyses would be performed to general business purposes, sale of business, financial statement and tax reporting purposes via the appropriate approaches.
We will provide the services as f0llows.
- Deal Advisory
- Asset Advisory
- Business Valuation
- Intangible Asset Valuation
- Mergers & Acquisitions
- Portfolio Company Investment Valuation
- Purchase Price Allocation
- Shared-Based Payment Valuation
- Financial Due Diligence
- Financial Instrument Valuation
- Financial Modelling & Audit
Employer Record
An Employer of Record is a company or organization that is legally responsible for paying employees, including dealing with employee taxes, benefits, insurance, visa application, and sponsorship applications and a great many other transactions and operations concerning human resources.
Companies often hire EORs to decrease all the complications and vicissitudes related to human resources operations, market access, market understanding and market participation, and managing payroll for international employees.
When you use an EOR, CBS formally become the employer of your employees. This invaluable outsourced service keeps a business in compliance with labor law and other fields of related regulations and significantly assists the company during its internationalization.
In international scenarios, regulations regarding benefits and taxes can vary and be very complex. EORs help companies penetrate new markets, manage benefit systems more efficiently, and can even sponsor work visas. EOR platform that enables you to hire employees globally.
Why use an Employer Of Record?
- No need to set up local legal entities
- Streamline document collection and approval
- Manage your time more efficiently and effectively.
- Increased regulatory compliance for national and international scenarios
- Reduced risk, as the risks of being an employer fall almost completely on the employer of record.
