CDK Associates
Audit and Assuarance
As registered auditors we provide the full statutory compliance service and can assist in reviews of your financial and management systems. We are able to adapt our accounting and audit procedures to fit the individual needs of our clients while ensuring compliance with all relevant standards. This principle underpins our accounting and audit approach, which you can expect to be tailored to suit your needs and those of your business.
We are committed in developing a long term and close relationship with our clients. We value communication with our clients and meet regularly to keep clients informed and to develop our knowledge of their affairs. We seek to provide a proactive service.
Our Audit Services Includes
Tax Planning & Structuring
Taxes affect every aspect of your business, thus it is essential that you plan ahead to ensure that you are not only meeting compliance and reporting requirements but minimizing the tax impact on your business.
How your business is structured can also heavily impact financial outlay, so it is crucial to understand the different types of entity structures so that you are not spending more time and money than necessary. Whether you are set up as a sole trader, company or partnership your entity structure can determine a great deal of variables including tax levels, reporting criteria and establishment and annual returns. It is important to be confident in your business structuring.
At CDK Associates, our highly qualified tax advisors can provide your business with tax planning advice to structure your business the most effective way, taking into account your business’s short- and long-term goals. As tax advisors, we are able to review proposed transactions aimed at achieving your goals and advise you on the best course of action.
Through tax planning and structuring, we are committed to providing our clients with the following key benefits:
Greater understanding of the tax consequences associated with business decisions
Up to date information of tax developments as they affect your business
Minimization of taxes where possible – both personal and business related
Identification of potential savings across direct and indirect taxes
Review of existing structures and establishment of new structures
Our Range of Taxation Compliance Services Includes
ELITE BUSINESS SOLUTIONS (PVT) LTD
Accounting Outsourcing / Bookkeeping Service
Accounting and Bookkeeping Solutions
At Elite Business Solutions (Pvt) Ltd, we are committed to providing tailored comprehensive bookkeeping solutions that are comprehensive and long term, freeing up your time so you can focus on running your business. Whether you need support to manage your cashflow, forecast income and expenditure, or simply provide more detailed financial reporting, our highly skilled team of bookkeepers will assist you to ensure your business is operating as planned.
Company Registration/ Formation Services
Registration of Private Limited Company at ROC
Within Sri Lanka, a business can be registered as a Sole Proprietorship, a Partnership or a Limited Liability Company, but registering a business as a Private Limited Company will provide, more benefits, recognition and security.
Registering a business as a Private Limited Company will provide you and the Company the opportunity to act as two separate legal entities.
A company shall have not less than two shareholders, provided that a company may have a single shareholder where such single shareholder is the Secretary to the Treasury.
The registration procedure for a Private Limited Company can be simplified as given below,
RESERVATION OF A UNIQUE COMPANY NAME (ROC)
Searching for a unique company name can be done online via the website of the Department of the Registrar of Companies (www.drc.gov.lk).
The company name reservation is valid for 3 months until registration. ( Rs. 2,000 + VAT & convenience fee 2%)
Restrictions on names
A company shall not be registered by a name which contains the words (“President”, “Presidential”, “Municipal”, “incorporated”, “Co-operative” or “Society”, “National”, “State” or “Sri Lanka”
SUBMITTING COMPANY REGISTRATION FORMS
After obtaining the name approval for the Company, Form No. 1, 18, and 19 needs to be submitted in printed or typewritten format (Section 475) as handwritten forms will not be accepted.
According to Article 221(1) of the Companies Act No. 7 of 2007, every company shall have a director and a secretary.
Before the incorporation of the Company, the Company Secretary must be appointed, as one of the requirements for incorporation is the consent form that the Company Secretary must sign saying he/she will be the secretary for the newly formed company.
- Form 1 – Company Registration (Rs. 4,000 + VAT & convenience fee 2%)
- Form 18 – Consent and Certificate of Director (Rs. 2,000 + VAT & convenience fee 2%)
- Form 19 – Consent and Certificate of Secretary/Secretaries (Rs. 2,000 + VAT & convenience fee 2%)
SUBMITTING THE ARTICLES OF ASSOCIATION
A company may either adopt the standard set of Articles of Association in Table A of the Companies Act of Sri Lanka or draft its own Articles of Association. (Rs. 2,000 + VAT & convenience fee 2%)
OBTAIN THE TAX IDENTIFICATION NUMBER (TIN)
The applicant or an authorized representative of the applicant must be physically present at the Taxpayer Services Unit of Inland Revenue Department to pick up and complete the application for a Taxpayer Identification Number (TIN) number with supporting documents including a copy of Form 1, Certificate of Incorporation and Articles of Association.
*Optional at the initial stage
LABOUR DEPARTMENT REGISTRATION
The application form could be obtained at the Labour department head office, all the District offices, Labour sub-offices or download it from the labour department Web site. The application should submit during the office hours of a working day and it takes one day for registration at the labour department Head office, 07 days at other offices. No service charges for this service.
*Optional at the initial stage
GIVING PUBLIC NOTICE OF INCORPORATION
According to Section 9 of Sri Lanka’s Companies Act No. 7 of 2007 and section 3(a) of the Gazette Notice No. 1566/32 dated 12/09.2008 public notice must be given within 30 working days of the incorporation of a company.
The notice of incorporation specifying the name of the company, registration number, date of incorporation, and address of the registered office should be published in the Government Gazette and in any daily newspaper in three languages: English, Sinhala and Tamil. The proof of publication should then be filed with the Registrar of Companies.
The newspaper publications once handed over with the payment which depends on the size of the notice will appear within 3 – 4 days. The publication in the Gazette will appear within 2 weeks of submitting the request with the payment. The Registrar of Companies accepts a copy of the receipt issued by the Government Printer as proof of publication.
REGISTRATION FEES
Name Registration – 2,000.00
Form 01 – 4,000.00
Form 18(For one Director) – 2,000.00
Form 19 – 2,000.00
Article of Association – 2,000.00
Certified Article of Association – 7,100.00
Plus
VAT & convenience fee 2%
OTHER COSTS
Paper Notice and Gazette – 8,500.00
Company Seal – 1500.00
Pre-Inked Seal – Director – 950.00
Pre-Inked Seal – Secretary – 950.00
Share Certificate – 1,250.00
Company Secretarial Services
Introduction of Accounting Systems/Software
At Elite Business Solutions (Pvt) Ltd, we have extensive experience using a wide variety of accounting software packages and can provide advice on selecting a software which suits you. We can offer help during the set up in doing requirement analysis, transfer of existing data.
Accounts Department
If you would like to engage in our full accounts department service, we can manage all your accounts payable, accounts receivable and payroll processing. We have streamlined our systems to ensure all functions operate as smoothly as possible, with minimal time and input on your part.
Human Resources Related Services
Staff Payroll Processing
Payroll management can be very difficult to stay on top of, with tax rates changing every budget, managing leave accruals, entitlements, and long service can be complex and time consuming.
Staff Recruitment / Head Hunting
We assist you in finding the ideal candidate for your vacancies, saving your time and effort on staff recruitment.
Special Purpose Financial Statement Preparation
Accounts Preparation for Bank Loans & VISA purposes
Website Development & Web Related Services
Website Development
Develop a modern website for your business with Search Engine Optimization, SSL Certification, Website Caching, Online Payments, Attacks Protection and many more features.
Email Services
Create personalized Email addresses (ex: info@cdkassociates.lk) for your business.
Digital Marketing Campaigns
Attract more customers to your business with Targeted Facebook, Instagram, Google, YouTube Ads Campaigns.
Social Media Management
We can manage social media accounts of your business to attract more customers to your business with Targeted Ads Campaigns, Attractive Posts/Videos, Automated Chat-bots etc.