Accounting and Auditing are not the same for a company. Accounting includes keeping the financial transactions of a company recorded and auditing means verifying the accuracy of those accounts to avoid any mistakes or misinterpretation of data. Read more: Difference Between Accounting And Bookkeeping
Company fees can be settled by deduction in taxable income considering it as income that is not chargeable for tax. Company fees are basically the cost incurred in its formation that can be claimed as a deduction against chargeable income. Read more: No Income Tax Countries
The Tax Authority can check the accounts of a company if it earns more than the minimum requirement for an income tax notice. Read more: General Ledger Difference Between Accounting And Bookkeeping
The yearly fees which are known as Filing of Audited Annual Financial Accounts need to be filed within 30 days from the conduction of the Annual General Meeting. Read more: Cash Book General Ledger
Offshore companies are exempted in most regions from taxes on capital gains and profits. Although there are various tax rebates, the income of an offshore company is not entirely exempted from taxes and it depends upon the region on the amount of taxes it charges. Read more: Tax Avoidance