Accounting and Tax Compliance services China by Professionals

Trusted Local Experts for Your Accounting, Tax, and Compliance Needs

Our accounting and tax services support foreign companies in China across industries. Outsource to our experts so you can focus on your core business while we ensure compliance, optimize taxes, and deliver timely financial reporting. Our tailored solutions reduce risk, create transparency, and give peace of mind to grow your China presence.

Full Range of Accounting Services - We handle everything from monthly bookkeeping to annual audits and tax filings.

Tailored Solutions - Our services are customized to fit your China entity, whether it's a WFOE, RO, or Hong Kong company.

Regulatory Mastery - Stay compliant and avoid penalties with our in-depth knowledge of China's accounting laws.

Bilingual Professionals - Our team seamlessly bridges language and cultural gaps between China and the West.

Speak to our experts

Think Accounting in China is Complex? We Might Change Your Mind.

Kickstart your business journey in China and join our outstanding community of more than 1,500 clients

Navigating Accounting Standards in China

What You Need to Know About Accounting in China

Understanding Key Differences From International Standards

China follows its own Generally Accepted Accounting Principles (GAAP) and standards known as CAS (Chinese Accounting Standards). While CAS has aligned more closely with IFRS and US GAAP over time, notable differences remain that foreign companies must understand.

For example, CAS adheres strictly to the historical cost principle for asset valuation, whereas IFRS permits revaluation. Discrepancies also occur due to lagging adoption of new international standards in CAS.

It is essential to adapt your accounting to CAS requirements. Non-compliance can result in penalties, reputational damage, and other risks. Our bilingual accountants stay current on the latest CAS rules and regulations to ensure your full compliance.

With in-depth CAS expertise, we implement the appropriate accounting methodology for your China entity. We then handle ongoing bookkeeping, reporting, auditing, and tax filing according to Chinese regulations and deadlines.

Expert Accounting and Tax Services in China

Tailored Solutions for Foreign Companies Operating in China

Our full range of accounting and tax services provide essential support for foreign companies in China. We offer expert guidance tailored to your specific entity and needs, whether you are a WFOE, RO, or Hong Kong company. With thorough understanding of both Western and Chinese accounting standards and business cultures, we seamlessly bridge gaps for smooth China operations.

Startups entering the Chinese market – We can help new entrants set up compliant accounting and navigate complex regulations.

Multinational corporations expanding operations – For large MNCs, we deliver customized accounting and tax solutions across multiple entities and locations in China.

SMEs seeking local partnerships – We assist SMEs with accounting needs related to forming joint ventures, WFOEs, or other investment structures.

Companies undergoing M&A – Our experts support the accounting aspects of mergers, acquisitions, and restructurings in China.

Speak to our experts

Simplify Your Business Operations in China with Our Tailored
Tax and Accounting Solutions

By outsourcing to our local experts, you can focus on your core business while we ensure full compliance, optimize your tax liability, and provide timely and accurate financial reporting. Our tailored solutions reduce risk, create transparency, and give you the peace of mind to grow your China presence.

Full Range of Accounting Services

We handle everything from monthly bookkeeping to annual audits and tax filings.

Tailored Solutions

Our services are customized to fit your China entity, whether it’s a WFOE, RO, or Hong Kong company.

Regulatory Mastery

Stay compliant and avoid penalties with our in-depth knowledge of China’s accounting laws.

Annual Compliance in China

Meeting China’s Annual Reporting Requirements

Staying Compliant and Healthy Throughout the Year

All foreign invested entities (FIEs) in China must complete a series of annual compliance procedures as required by law. This includes having a certified audit, filing taxes, and submitting reports to various government authorities.

The three key steps in China’s annual compliance process are:

Statutory Audit – An independent audit of the previous year’s finances must be conducted by a qualified Chinese CPA firm before April. This ensures GAAP compliance and accurate reporting.

Annual Tax Filing – Income taxes must be reconciled and filed before the end of May each year. Any outstanding tax payments must be made.

Government Reporting – Various reports must be submitted to authorities like SAMR, SAFE, and Customs before the June deadline.

Missing these crucial deadlines can lead to penalties, damage to the company’s social credit and reputation, and other detrimental impacts. Our experts stay on top of all your filing dates and requirements to ensure full compliance. We also liaise with your auditor, handle tax payments, and complete all government submissions on your behalf.

A Step-by-Step Overview of the Corporation China Registration Procedure

Seamless Back Office Management Service by Corporation China

End-to-End Support Designed for Your Company. Outsource Your Back Office Functions to Our Experts. At Corporation China, we offer a seamless suite of back office services tailored to your specific company needs, including:

Bookkeeping – We handle daily accounting, transactions, reporting, and more.

Tax Management – We ensure compliance for VAT, corporate tax, and all other filings.

Payroll & Reimbursement – We process employee payments and expenses.

Banking Services – We liaise with your banks and manage payments and reporting.

Invoicing & Fapiao – We support your business’s fapiao and invoicing needs.

Financial Reporting – We prepare your monthly, quarterly, and annual financial statements.

Auditing & Inspections – We coordinate your annual audits and inspect your records

VAT Registration – We handle applying for VAT licenses and invoices.

Interface with Authorities – We act as liaison between your company and government authorities.

With our integrated back office support, you can outsource time-consuming accounting, tax, HR, and financial tasks. Our experts use best practices optimized for your company structure while ensuring full compliance. Less hassle and reduced risk allow you to focus on business growth.

Trust Corporation China for seamless, customized back office management in China. Discover newfound simplicity and peace of mind.

Our Simple 4-Step Process for Accounting & Tax Services

We make it easy to get the accounting and tax support you need in China. Our straightforward 4-step process.

Required Documentation for WFOE Company Formation In China

How We Seamlessly Support Your Business in China:

Consultation – We discuss your business and goals to customize the optimal services.

Proposal – We provide a detailed proposal outlining our services, deliverables, timeline and pricing.

Onboarding – After agreement, we collect information and documents needed to begin work.

Ongoing Support – We handle all agreed accounting, tax, reporting and compliance needs.

Throughout the process, you have a dedicated point of contact for any questions. We proactively communicate about deliverables, deadlines, and requirements.

With Corporation China’s simple yet comprehensive process, you can easily outsource essential accounting and tax functions in China. Our experts handle the complexities while you focus on operating and growing your business.

Simplify your business in China with Corporation China Total company accounting management.

Speak to our experts

Start your business journey in China and join our community of 1,500+ clients partnering with Corporation China.

Key Facts About Accounting Compliance in China

What are the main accounting principles in China?

China follows CAS (Chinese Accounting Standards) which aligns with international standards like IFRS but has key differences in areas like asset valuation.

When is the fiscal year in China?

The fiscal year is January 1 to December 31. Companies must complete annual reporting by June of the following year.

What are the corporate tax rates in China?

The standard corporate income tax rate is 25%. Reduced rates of 20% apply for small, low-profit entities.

How often do I need to file taxes?

Taxes like VAT and corporate income tax must be filed on a monthly or quarterly basis. Annual filing is also required.

What are the penalties for non-compliance?

Penalties for issues like late filing can include fines, suspension of licenses, damage to credit score, and even blacklisting.

What accounting records must be kept?

Records like general ledger, sub-ledgers, journals, books, and vouchers must be kept for inspection.

When does a company need an annual audit?

An independent audit by a CPA firm is required annually for all foreign-invested entities in China.

Can we revalue assets like property?

No, CAS requires the historical cost method for asset valuation.

Are there double-tax treaties with other countries?

Yes, China has signed over 100 double tax treaties with countries to avoid double taxation.

How long do we need to retain accounting records?

Records must be kept for at least 15 years according to the Accounting Law.

Not Ready to Start a Company?

China Presence

Be in China without a physical office - we represent you.

Start in just 25 days
Dedicated China team to represent your company
Manage operations remotely
Maintain control of your brand image and IP
Minimize investment and risk

Speak to our experts

Or learn more about Representation Services

Corporation China’s Services

Your corporate journey, supported each step of the way.

Accounting and Tax Compliance services China by Professionals