Accounting Services in Benin

Accounting and tax consultant & financial services in Benin

Accounting services in Benin are used by most entrepreneurs who start a new business, especially if they are not familiar yet with the accounting regulations. 

It’s very important to discuss with a Benin accountant, member of our network, on the exact accounting requirements that you need to consider. One of the first questions we often receive from our customers is how corporate taxes work in Benin.

It is important to understand the annual accounting requirements, which are: 

•    Drafting your Financial Statements;
•    Filing your Corporate Income Tax Return;
•    Submitting your statements to local authorities.

By using accounting services in Benin, you don’t have to worry about these formalities, and our network of Benin accountants will fully take care of this work. Our Benin accountants will not only ensure that your company complies with the Benin accounting regulations, but it will also make sure that you will get good insights into the financial health and situation of your company. Kafui & Partners uses the latest accounting software and technologies and provides you with an accounting dashboard that will allow you to get (annual) reports, providing access to all underlying invoices and expenses.

Our accounting and tax consultants can help companies of any size. From sole proprietorships to multinational companies, due to our competitive rates and efficient processes. Each company can easily upload its invoices and bank statements, or even take pictures of any bills via an App on your phone. From that point forward, all transactions are easily processed, and the accountant has to spend as little time as possible to prepare your financial statements and file your Benin corporate income tax return. 

Our tax consultants in Benin can inform you on how to operate your company from a fiscal perspective. Once you received your Tax ID number, we will inform you of the Benin invoice format-requirements, and how you should deal with local and international buyers and suppliers.

Why Benin Accounting Services are important

Before you start your Benin company, it’s advised to have a good understanding of the Benin tax laws and the administrative requirements.

The exact requirements for Benin companies depend on the size of the company, or it’s a corporate structure. The annual financial report must contain at least:

•    A balance sheet,
•    profit and loss account, and
•    notes to the accounts.

Kafui & Partners can provide specific advice about requirements that each entrepreneur should consider, including corporate obligations and personal liabilities of the directors of a Benin company.

Every Benin Private Limited Company should prepare Financial Statements. Once your business is operational in Benin, we can assist you during every accounting milestone, and perform the administrative duties of the company.

Accounting services in Benin
A milestones/accounting services that you can expect from our network of accountants in Benin are:  
•    Tax Registration, obtain all relevant Tax IDs in Benin
•    Tax returns preparation and filing at the Benin tax authorities
•    Basic bookkeeping and accounting services
•    Debt monitoring and other accounting reports
•    Consolidation, in case of a group structure;
•    Forensic accounting & Auditing services;
•    Payroll Service;
•    Tax Memos;
•    Application of tax rulings or tax opinions from the tax authorities.
Tax Consultancy in Benin
Depending on your situation, it can be important to put a tax strategy in place, before we start our Benin accounting services. Our Benin tax consultants can advise you on the fiscal consequences of the expected business activities and transactions, and we can determine how the corporate structure should look like.

Audit Services in Benin
Kafui & Partners does not provide Audit Services inhouse, but we can connect you to reputable audit companies that will be able to provide you with audited financial statements, or an auditor's declaration (on your forecast, etc etc.). 
Benin Payroll Services
Our Benin network or experts have a lot of experience in payroll services, especially for expats. Furthermore, we can provide you with the payrolling services on annual contract basis. The support includes:
•    Issuance of Salary Slip (pdf and hardcopy);
•    Filing of wage tax return;
•    Tax Calculation on salary;
•    Advice on Tax ruling (if applicable);
•    Basic support on immigration services for expats (help with housing formalities, tax filing requirements (income tax);
•    Complete statements/journals for the bookkeeper who will be responsible for corporate bookkeeping.

In case you don’t have a Benin corporation or branch yet, we can help you to determine if you require to register a subsidiary or a branch, in order to act as Employer.

As a global entrepreneur, you should not underestimate the complexity of setting up your Benin administration.  Although you might have experience in keeping your books for your current company, there are a lot of details to consider when you start a Benin company and apply for a Benin tax number.  It’s important to avoid paying too high taxes or creating extra work, penalties, or even costly (and frustrating) tax audits. By appointing Kafui & Partners as your administrative partner, you avoid such scenarios, so you can focus on your business. 

Get in touch with us !

Ready to discuss your needs and thoughts? Contact us and our team will be ready to assist you in your journey to Benin.