SELIM

Outsourcing Services

Advisory & ConsultingOutsourcing ServicesOutsoucing Services

Outsoucing Services

Ⅰ. Outsourcing Services

1. What is outsourcing?

Outsourcing refers to the business strategy of focusing resources on strategically important and the most competent areas and core capabilities of a company and entrusting external professionals with the rest of work to ensure its operational efficiency and to stay competitive.

2. How does outsourcing help your business?

When a business fails to quickly adapt to rapidly evolving economic situations, it is inevitable that it loses its competitiveness in the market. Especially for a big company with more complex structures, it is trickier to react flexibly to external changes. To remain competent in new environments, a company should enhance internal core capabilities while it should be able to play flexible in the non-core areas.
Therefore, it is increasingly critical for a company to adopt a strategy of outsourcing non-core business-related affairs while concentrating on key business affairs.

The followings are benefits a company could receive when outsourcing.
- · Focus on and enhance core competence of your business
  
  Outsourcing allows businesses to differentiate themselves from their competitors as they can focus on core competencies by outsourcing expense-consuming and inefficient work.
- · Streamline your business and ensure flexibility to diversify risks
  
  Outsourcing allows businesses to be flexible as it minimizes the impact on management, brought by changes to the market, competition environment, technology, etc., leading to risk diversification.
- · Create higher added value in their main business with synergetic effect
  
  Outsourcing frees up internal resources that could be allocated into more effective use such as creating added value, thanks to the synergetic effect generated from the partnership between your business and external professionals.
- · Reduce Cost
  
  Outsourcing enables businesses to save operational and labor costs as having in-house professionals would require cost and time. You can maximize the managerial efficiency at lower costs.
- · Expand network for information
  
  Outsourcing makes it possible to have access to a team of experts with experience and expertise in accounting, which enables businesses to expand and gain access to resources which are not internally available.
3. Why Selim?

Accounting is a total process which includes bookkeeping, tax adjustment, and tax filing.
As tax laws and regulations are getting stricter, companies are more likely to have difficulty in ensuring full compliance of them. That is the most critical reason why businesses are increasingly looking for tax and accounting outsourcing services.

Selim provides tailored tax and accounting services, including but not limited to payroll and accounting-related affairs.
Our well-experienced CTAs provide a wide range of services ranging from tax consultancy to financial solutions. We are committed to keenly communicating with our clients to grasp your needs and to bring the best solution as promptly as possible.

4. Outsourcing Process
Ⅱ. Outsourcing Service Scope

ⅰ. Payroll Service
- 1. Payroll
  
  1) Prepare individual payrolls based on annual salary
  2) Calculate individual withholding tax and four main insurances contribution
  3) Draw up a company payroll table & reports
  4) Prepare a salary request transfer form
  5) Mail individual pay slips
  6) File withholding tax monthly and Perform year-end tax adjustment
  
  2. Four Key Social Insurances
  
  1) Declare subscription & withdrawal
  2) Notify changes of subscribers
  3) (Interim) settlement
ⅱ. Accounting (inc. payroll)

1. All payroll service above

2. Consultation services on accounting and tax issues through conference calls upon request

3. Bookkeeping and monthly closing report

4. Added value tax filing

5. Quarterly and semi-annual report & corporate tax filing

6. Visit to clients and proving document management

7. Tax and bookkeeping training

8. Build strategy to reduce tax amount