Accounting Services in Senegal
Accounting and tax consultant & financial services in Senegal
Accounting services in Senegal 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 Senegal 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 Senegal.
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 Senegal, you don’t have to worry about these formalities, and our network of Senegal accountants will fully take care of this work. Our Senegal accountants will not only ensure that your company complies with the Senegal 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 Senegal corporate income tax return.
Our tax consultants in Senegal 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 Senegal invoice format-requirements, and how you should deal with local and international buyers and suppliers.
Why Senegal Accounting Services are important
Before you start your Senegal company, it’s advised to have a good understanding of the Senegal tax laws and the administrative requirements. The exact requirements for Senegal 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 Senegal company. Every Senegal Private Limited Company should prepare Financial Statements. Once your business is operational in Senegal, we can assist you during every accounting milestone, and perform the administrative duties of the company.
Accounting services in Senegal
A milestones/accounting services that you can expect from our network of accountants in Senegal are:
• Tax Registration, obtain all relevant Tax IDs in Senegal
• Tax returns preparation and filing at the Senegal 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 Senegal
Depending on your situation, it can be important to put a tax strategy in place, before we start our Senegal accounting services. Our Senegal 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 Senegal
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.).
Senegal Payroll Services
Our Senegal 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 Senegal 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 Senegal 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 Senegal company and apply for a Senegal 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.