Accounting services cover the annual preparation of accounting and financial statements, the submission of periodic VAT returns, compliance with all tax and regulatory reporting obligations. These services include free access to the NEWCO Analytics platform, a Business Intelligence tool that allows the client to have online access to all the accounting and commercial information of his company, to easily extract reports, balance sheets, financial statements, product or service sales information, activity indicators, ratios and statistics, among other important analytical data for his financial management.
We also provide a complete salary processing service.
Both Portuguese and Maltese companies must comply with the requirements of the respective corporate tax code and keep their accounts up-to-date and organized. The books must be kept under the responsibility of a certified accountant and all accounting documents must be kept at the companies' headquarters.
All company transactions must be duly reflected in the accounts with original supporting documents. NEWCO ensures the issue of invoices, the preparation of financial statements which serve as the basis for the management of companies and the fulfilment of all tax obligations in Portugal and Malta.
Compliance with a company's tax obligations is an essential element for good business management in a new country. Thanks to the knowledge and experience gained over three decades of supporting foreign investors, NEWCO provides an enlightened, attentive and rigorous tax compliance service, ensuring full conformity with the current tax laws.
The computerization and increasing sophistication of the tax authorities make corporate tax reporting and compliance increasingly complex and demanding. More than ever, the Tax Authorities are forcing companies to report tax data in electronic format and in an increasingly extensive manner, either for automatic filing of tax returns or for reporting through standardized files. Such is the case in Portugal, which requires the regular reporting of SAF-T (Standard Audit File for Tax purposes) files to the Tax Authority containing all accounting and billing information of the company.
In order to avoid that erroneous or incongruous information is generated and reported in the electronic transmission of data from companies to the Tax Authority, which may lead to management accountabilities, fines from regulators and/or tax disputes, NEWCO uses the NEWCO Analytics tool to automatically examine and audit all data and information prior to its reporting. Thus, NEWCO Analytics allows to anticipate and correct all errors and inconsistencies in the mandatory information that is reported to the Tax Authority, while providing its clients with an excellent tool for management control, auditing and internal control in their companies.