Accounting & Auditing
Accounting records are required to be kept in Chinese or Chinese with English. Annual Audit by a local auditor is required. We offer full Accounting Service for your company, for more detail, please refers to Accounting & Tax Consultancy.
Annual Corporate Income Tax filing
Income tax on enterprises shall be computed on an annual basis and paid in advance in quarterly instalments. Such payments shall be made within fifteen days from the end of each quarter and the final settlement shall be made within five months from the end of each tax year. Any excess payment shall be refunded and any deficiency shall be repaid.
Annual inspection is a system that is peculiar to corporations in China. The Municipal Administrative Bureau for Industry & Commerce, together with other departments concerned are authorized by law to conduct an annual inspection of the enterprise. In brief, the objective of the inspection is to investigate whether the enterprise abides to the laws, regulations and the conditions for granting its licenses.
The annual inspection will be conducted from May to June every year. Those enterprises unable to fulfill the requirements of the annual examination may have their registration certificate revoked.