Accounting & Payroll
Accounting & Tax Compliance Services
In addition to corporate services, GVZH provides in house accounting services to its portfolio of clients. GVZH Trustees Limited provides in-house accounting and tax compliance services. The Team of five individuals includes four fully qualified accountants. Our portfolio of services includes:
- Accounting Services
- VAT Compliance & Advisory Services
- Corporate Tax Compliance & Advisory Services
- Drafting and preparation of financial statements
- Payroll
- Individual Tax and Social Security Contributions Advisory Services
Accounting Services
The Companies Act (Chapter 386 of the Laws of Malta) requires every Malta Company to keep books of Accounts. Our qualified team is regularly trained to provide ongoing and routine accounting services together with one-off bespoke accounting projects. Our services include:
- Maintenance of accounting records in keeping with best practice and established guidelines.
- Maintenance of creditors and debtors’ ledgers, and Fixed Asset Register.
- Preparation of bank and other reconciliations.
- Preparation of budgets and projections.
- Preparation of management accounts on a monthly, quarterly, half yearly or annual basis.
VAT Compliance & Advisory Services
Malta companies engaging in trading activities are required to be registered for VAT under the Value Added Tax Act (Chapter 406 of the Laws of Malta). Our Accounting Team provides assistance with the registration for a VAT number. Moreover, upon issuance of a VAT number, GVZH can also assist with the compilation and submission of VAT returns. The Team has in-house expertise to provide bespoke VAT advisory with regards to the registration of VAT and VAT implications on cross border activites. In summary our VAT services include:
- Registration for VAT.
- Compilation of VAT returns.
- Local and international VAT Advisory.
Tax Compliance and Advisory Services
The Income Tax Act (Chapter 123 of the Laws of Malta) requires a Malta Company to submit an annual tax return. Our Team has the required expertise to provide both local and international tax advice. Moreover, GVZH can assist its portfolio of clients with the yearly tax return submission, tax refund return form, for companies claiming tax refunds under Malta’s Tax Imputation system and also consolidated tax returns in line with Malta’s Consolidated Group (Income Tax) rules.
Preparation of Financial Statements
The Companies Act (Chapter 386 of the Laws of Malta) requires every Malta Company to keep books of Accounts and submit annual financial statements. Our professional Team assists with the preparation of financial statements in line with the International Financial Reporting Standards (IFRS) or General Accounting Principles for Smaller Entities (GAPSME). Our services include:
- Preparation of financial statements in line with the IFRS or GAPSME.
- Introductions and acting as a liaison with external auditors.
Payroll
GVZH provides an array of payroll services to its portfolio of clients. GVZH has invested in a dedicated payroll system which provides our clients the required peace of mind that the management their payroll is accurate and complete. Our services include:
- PE Registration.
- Setting up of payroll system.
- Applying for a Social Security Certificates.
- Preparing and submitting FS3 and FS7 forms.
- Preparation of payroll, submission of FS5 forms and execution of payments.
- Assistance with work permits.
Individual Tax and Social Security Contributions Advisory Services
Our Team also provides advisory and compliance services to individuals relocating to Malta under the available residency programmes and work permits. GVZH is available to discuss the tax implications for any of the said programmes and once residency is acquired in Malta, our dedicated Team can help with any tax compliance requirements imposed by the programmes.
