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Globalisation
The global economy of the twenty first century offers untold new business and personal financial planning opportunities. High-speed communications and the information technology revolution mean that Tokyo, London and New York represent markets, suppliers, colleagues and business partners for individuals and small and medium businesses as well as for large corporations.
However, globalisation demands that accounting data be translated into meaningful results faster than ever before in order to identify opportunities for planning and guarantee a competitive advantage. Furthermore, financial reporting for the international ex-patriot or business must incorporate an understanding of cultural diversity to evaluate and communicate cross border issues, tax efficiency, investing and remuneration structures, pensions and life insurance and regulatory environments.
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Nihonbo ltd. develops management information systems to provide timely and meaningful information reporting, identify key global issues and opportunities and follows up with relevant, specialised advice. Nihonbo limited will also ensure that all local reporting requirements are kept up to date.
Compliance Regulation and Taxation
Management accounting systems are almost purely user driven. Reporting compliance concerns are less relevant for small businesses, as the UK audit threshold increases and Japan continues to have fewer such requirements for small businesses.
For Japanese businesses working abroad fewer compliance requirements can increase business risk due to the lack of standard accounting reports compounded by the inherent language barrier.
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Furthermore, tax reporting concerns such as VAT, PAYE and local taxes are easily misunderstood resulting in penalties and investigations. A bilingual chartered accountant maximises the benefits of cost savings from reduced compliance concerns and minimises the problems of complying with tax regulations.
The Complete Solution
Nihonbo ltd. provides a complete solution in the international environment. In addition to overcoming linguistic and cultural barriers Nihonbo ltd adds the value of consulting services to the performance of routine but critical accounting and taxation tasks.
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