Services

Audit & Assurance

Our Audit & Assurance practice offers comprehensive financial statement verification and integrated audit services to ensure accuracy and compliance. Our key services include:

External Auditing: We verify whether companies' financial statements adhere to Sri Lankan Accounting & Financial Reporting Standards, the Companies Act, and other regulatory requirements.

Internal Auditing: We help businesses evaluate and improve their risk management and control processes to enhance overall performance.

Our goal is to deliver insightful audits that support your business's financial integrity and operational excellence.

Tax Compliance Services

We ensure that your tax obligations are met with precision and efficiency. Our expertise helps you navigate Sri Lanka’s tax system, minimizing your tax burden while achieving your financial goals within the legal framework.

Sri Lankan Tax System Overview

Direct Taxes:

• Income Tax: Paid by individual taxpayers (excluding corporates) on their earnings. Tax rates are based on income slabs, with varying rates applicable to different income levels.
• Corporate Tax: Paid by companies registered under Sri Lankan company law on their net profits. The tax rate is specified by the Income Tax Act and may be updated annually by the Inland Revenue Department (IRD).

• Indirect taxes are levied on goods, services, and transactions rather than on income. These taxes are embedded in the price of products, with the end consumer ultimately bearing the cost. Our tax advisory team provides expert guidance on managing and complying with these taxes, including: Value Added Tax (VAT), Social Security Contribution Levy (SSCL), With-Holding Tax (WHT), Stamp Duty, Capital Gain Tax

• Tax Return Filing, Tax Registration, Tax Advisory, Tax Planning

Accounting Services

Businesses often have diverse financial accounting needs. Some aim to reduce the costs and complexities of maintaining an in-house accounting department, while others seek specialized support for decision-making and strategic purposes.

We offer a range of accounting services designed to meet your business needs and streamline financial management. Our services include:

Accounting and Bookkeeping Process Outsourcing: Efficiently manage your accounting functions by outsourcing to us, reducing overhead and increasing accuracy.

Clearing of Accounting Backlogs: Address and resolve any accumulated accounting backlogs to keep your records current.

Financial Reporting Advisory Services: Receive expert advice to enhance the accuracy and compliance of your financial reports.

Preparation of Financial Accounts for Business Financing: Prepare detailed financial accounts to support your business financing needs.

Special Assignments on Stocks & Fixed Assets Verifications: Conduct thorough verifications of stocks and fixed assets to ensure reliable reporting.

Our aim is to make the accounting process as seamless and hassle-free as possible, supporting your business’s financial health and growth.

Corporate Secretarial Services

Our Corporate Secretarial services provide expert guidance and support for all your company-related needs. By partnering with our associate secretarial firm, you ensure that your business adheres to all relevant legal and regulatory requirements. With extensive knowledge in company law and compliance regulations, we offer tailored solutions to meet your business's unique needs. Our key services include:

Company Incorporation: Guiding you through the entire process of establishing your company from start to finish.

Business Name Approval: Assisting in the approval process for your business name to ensure it meets regulatory standards.

Registration Form Submission: Handling the submission of your company’s registration forms to the relevant authorities.

Articles of Association Submission: Preparing and submitting your company’s Articles of Association to formalize its legal structure.

Bank Account Setup Assistance: Helping you open the necessary bank accounts to support your business operations.

Compliance Assurance: Ensuring that your company meets all legal and regulatory obligations.

Statutory Returns: Managing the preparation and submission of statutory returns to maintain compliance.

ROC Annual Return Filing: Handling the filing of annual returns with the Registrar of Companies (ROC) to keep your company in good standing.

Our goal is to deliver comprehensive corporate secretarial services that support your business’s legal and regulatory compliance, allowing you to focus on growth and success.

Business Development

Our Business Development services are designed to equip your company with the tools and insights necessary to enhance performance and drive growth. We provide a range of management accounting services to support informed decision-making and strategic planning. Our key services include:

Activity-Based Costing: Analyzing costs to improve efficiency and profitability across your operations.

Management Financial Statements: Preparing detailed financial reports to give a clear view of your business's financial health.

Customer Profitability: Assessing the profitability of your customer base to guide strategic decisions.

Analytical Review of Data: Conducting thorough data analysis to identify trends and opportunities for improvement.

Cash Flow Management: Optimizing cash flow management to ensure smooth business operations.

Our goal is to empower your business with the insights and tools needed to achieve sustainable growth and long-term success.

Human Resource Services

Outsourcing Human Resource Management can significantly reduce time and costs while providing the independence needed to handle HR functions effectively. At SLP Associates, we specialize in managing company policies and practices to protect both your business and employees’ interests. Our comprehensive HR services include:

Payroll Processing: Efficient management of employee payroll to ensure timely and accurate payments.

EPF, ETF, and APIT Management: Handling compliance for Employees’ Provident Fund (EPF), Employees’ Trust Fund (ETF), and Advance Personal Income Tax (APIT).

Payroll Auditing: Conducting detailed audits of payroll processes to ensure accuracy and compliance.

Company Employee Tax Returns: Preparation and filing of tax returns for employees to meet legal requirements.

Special Recruitments: Assisting with specialized recruitment to find the best talent for your business.

Human resources management can be a time-consuming task for small businesses. Discover how outsourcing to SLP Associates can streamline your HR processes and enhance operational efficiency.