China Tax & Accounting Service China – Professional, Reliable, Fast

China Tax & Accounting Services.

Total company accounting management solutions.

Our China TOTAL SUPPORT™ Company Management Solution can help you manage all Accounting tasks.

Corporation China provides a full range of accounting and tax services in China, as well as audit services. We can assist you in accounting, tax, and auditing for your WFOE or RO.

Corporation China’s accountants have a thorough understanding of China’s complex Chinese accounting and tax system. We strive to align your company’s accounting practices with the rapidly evolving accounting system, allowing you to focus on your company’s business technology.

All companies registered in China need to follow a series of annual requirements. The annual compliance requirements commence after the end of the fiscal year and take place until the end of June.

Find out more about Corporation China's Tax Accounting services.

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Areas we can assist with include the following.

Accounting for WFOE or Representative Offices.

Monthly preparation of company books.

Monthly and annual preparation for tax filing with Chinese tax authorities.

Preparing to file for Business Tax, Individual Income tax, and Corporate tax.

Annual audit of financial statements.

Business in China Tax advice.

Financial services foreign invested enterprises fie and cross border.

China's consumption tax, according to the tax laws in China.

Tax in China Advice for Hong Kong Companies.

Areas we can assist with include the following.

Set up the accounting system.

Bills and receipts audit.

Compile the accounting documents.

Design and implement an accounting system.

Account items recording.

Financial report & Balance Sheet.

Statement of income and loss.

Financial advisory.

Apply for General VAT Payer (if required).

VAT (Value Added Tax) Report.

Tax Filing in Tax Authorities.

Applying for E-tax filing.

Applying for VAT Invoices and Invoices IC card.

Opening bank account for the tax authorities.

Initial finance/accounting system setup.

Preparing monthly accounting reports.

Bookkeeping report.

Financial statements.

Reconciliation services (if required).

Print and bind voucher and book account.

Authentication of offset VAT counterfoil.

Transcribe the taxation to related authorities.

Filing monthly financial statements.

Calculation and filing monthly VAT and VAT additional tax and fees.

Calculation and filing quarterly enterprise income tax.

Calculation and filing stamp duty.

Unified planning of taxation control system.

Financial management system.

Cash income, claims for payment, and reimbursement.

Sales management, inventory, and assets management advisory.

Internal control and audit.

Management of foreign funds and loans.

Salary and welfare.

Compile the annual report.

Audit for annual report.

Audit for foreign exchange.

Annual income tax collection.

Separate annual inspection.

Seamless back office management, designed for your company type.

Cashier Service.

Bookkeeping Service.

Compilation of Financial Statement.

Tax Registration & Declaration.

Tax Filling.

VAT Tax Return.

Tax Risk Management.

Monthly Bank Statement Reconciliation .

Employee Reimbursement.

Interface between Bank and Tax Bureau.

Bank Transaction Filling.

Traditional & e-banking Processing.

Signatory & Approval Services.

Commercial Invoices Processing.

Insurance of VAT Fapiao according to the tax rate.

GAAP Review & Annual Inspection.

Audit Assistance.

Financial Advisory.

Financial Due Diligence .

Internal Management Review.

Monthly Maintenance of Office Address .

HR Services .

The China’s annual compliance requirements.

According to company law of China, a limited liability company shall commission a qualified, certified public accountant company to conduct an annual audit of the previous year’s company’s financial reports, which is a requirement by China company law.

The China’s annual compliance requirements are divided into three steps.

The statutory annual audit should be done by a certified public accounting firm in China.

The Annual tax filing: the second step is to have the reconciliation of corporate income tax.

The Annual reporting procedures are: the last step is to have various filings to local government departments.

The main purpose of this annual audit is to ensure that the company’s financial statements are in line with the Chinese GAAP (Generally Accepted Accounting Principles) standards while showing the accurate financial position of the Chinese company.

This also ensures good governance as it is one of the main duties of the legal representative to send a financial statement to shareholders. The annual audit report is also needed to distribute profits.

Standard reports include a balance sheet, cash flow statements, company income statements, changes in equity, financial statements, and taxable income documents. The annual corporate income tax filing is in May, so the audit reports should be completed before the end of April.

Following the audit report is the annual corporate income tax (CIT) filing. The standard rate of CIT is 25% on profits, depending on the size of the company and the industry.CIT has to be paid on a quarterly basis, and the annual CIT reconciliation ensures that the tax has been fully paid. The deadline to submit yearly tax reconciliation is the end of May.

China’s Annual reporting process.

After the annual audit report and CIT reconciliation are done, the company needs to proceed with submitting information to the different government authorities the State Administration for Market Regulation of Industry and Commerce (SAMR), the Ministry of Commerce (MOFCOM), the State of Foreign Exchange (SAFE) and for trading companies also to the Finance Authority and Customs Authority.

The deadline to submit the annual report is the end of June. Failing to carry out the annual compliance procedures may result in penalties, blacklisting, or negatively affecting the company’s and the directors’ social credit score.