Olivares & Associates (OA) is a consultant company devoted to provide Accounting, Tax and Payroll monthly services to local and international companies. It is formed with accountants and financial advisors to assist to clients with the orientation how to accomplish with Chilean regulations.
OA is managed by its own Director, Mr. José Olivares, who is Ph.D. in Finance from the Univesity of Texas at Austin, MBA from University of Ottawa (Canada) and BA and CPA from P. Catholic University of Chile with an extense background on Chilean financial market and regulations, giving the guidelines to international investors on how to set up a company in Chile and how to continue later accomplishing with the Accounting, Tax and Labor regulations, in such a way, the company focuses exclusively on its main activities.
With its employees staff, OA advices to international company how to open checking accounts, define labor contracts and compute wages for residents and non residents workers to fulfill the Chilean requirements. Its purpose is that the international company concentrates on its main objectives, leaving all the administrative process of Accounting, Tax declaration and Payroll calculations to OA. The financial staments are built under tax regulations and IFRS guidelines and OA provides the full support to issue audited financial statements, if needed.
- First of all, OA defines the Accounting Accounts Plan based on Client´s Operating Activities in order to match the financial requirements with the business core,
- OA schedules monthly activities for monthly close of documents to prepare tax monthly declaration for Revenues Tax and Wages Form,
- OA records invoices and general documents issued by client or received by it with banking accounts transactions,
- OA processes contracts, provisions and money exchange translation effect, and
- OA prepares monthly and annual financial statements.
- OA supports payments schedule,
- OA records checks to suppliers and workers,
- OA revises banking accounts to inform directly to client by recording all transaction.
- OA is in charge of monthly Sales Tax (called IVA),
- OA is responsible of Annual Tax Declaration (called Corporate Tax Declaration),
- OA advices to clients on tax forecast and on the procedure to reduce the tax payment, according to Chilean tax regulation.
- OA generates monthly salary per worker,
- OA computes payments for social security, health insurance and compensation for local institutions required by the regulation,
- OA prepares monthly legal official compensations book required by law and by the client contracts of international company,
- OA records of wages in accounting system,
- OA designs contracts to hire or to fire workers, informing to Labor Authority,
- OA is responsible of Annual Compensation Declaration per worker in order to meet labor and tax legislation.