Accounting and Taxation Services
Any entity is required to maintain accounting records according to Kosovo law. Accounting is instrument of processing and transmitting financial information, which is necessary for reporting to the governmental authorities and for analyzing company effectiveness. ARKA Consulting could find for the customers right solution in the area of accounting and taxation using resources of qualified experts with many years of experience in this field.
Accounting & Bookkeeping
Accounting allows you to monitor, predict and evaluate the effectiveness of the entity for the subsequent adoption of balanced decisions. In addition, bookkeeping and accounting is mandatory requirement in Kosovo by the law, as soon as the company is established. The frequency of financial reporting is settled by the financial regulator, depending on the legal form, revenues value, scope of activity and lifetime of the company.
Payroll service in Kosovo
At the initial stage of the company formation in Kosovo, you may encounter several local features and requirements applicable in payroll reporting. In addition to income tax, the tax duties of company employees include paying employee’s income and should be reflected in the company financial statements and in the employee’s income statement, as well as pension fund contributions. Employer is responsible but not required to pay health insurance tax and unemployment insurance.
ARKA Consulting could find for you right solution related to payroll reporting (including registration of taxes on medical, social insurance etc.), leaving you with complete control.
Tax planning
The list of services in the field of tax planning:
- Financial statements
- Acquisitions and merging
- Preparation of tax return reports (income tax, sales tax, corporate tax, etc.)
- Reporting for current business operations
- Taxation of the company (depending on the field of activity)
- Recommendations on optimal taxation model (applicable to the specific field of activity)
Unique Identification Number in Kosovo
All companies are required to comply with the tax regulations in the country of registration and Kosovo is no exception. Companies established outside Kosovo but operating on the Kosovo market are required to comply with the laws of the country.
If your business does not comply with Kosovo legal regulations, the consequences can be serious: in addition to imposing fines, the reputation of your company could suffer.
If the annual revenue of your company registered in Kosovo exceeds 30 000 EUR, declaring VAT is mandatory. But you don’t need a VAT number to do so. With the UIN obtained upon registering the company in K0sovo, this number will be the only verification ID for your company (for VAT, as a registration number, etc.)
Once your business is registered as taxable, UIN is used in all documents, including tax return reports.
ARKA Consulting advise you to be aware of all possible tax liabilities of your company before starting business in Kosovo. We are ready to find the necessary solution for you and provide support, considering your field of activity and the specifics of your business model.
