How to Navigate China's Accounting and Bookkeeping
Based on PRC Company Law and PRC Accounting Law, each foreign-invested company, such as China Wholly Foreign Owned Enterprise (China WFOE or China WOFE), Joint Venture (JV), Representative Office (RO or Rep Office) all required to do China company's accounting and bookkeeping on time.
When to Apply for Tax Registration for trading companies in china?
Please note it that although China company's business license, local tax certificate and national tax certificate have been combined into one. China companies should apply for tax registration within one month after the issue of the business license.
When to Apply for General VAT Taxpayer or Small-scale VAT Taxpayer?
Chinese enterprises shall apply for the general vat taxpayer or small-scale vat taxpayer application within one month from the date of applying for the tax registration.
When to Start Filling Taxes?
In the month of tax registration and taxpayer application.
When to Do Company Annual Renew?
Chinese companies should take part in the annual business inspection, i.e. company annual renew between March 1st and June 30th next year.
What is Fine for Delaying Payment?
Fine for delaying payment is a tax payable to a taxpayer who pays the tax on a delay in accordance with the provisions of the tax law. This is an economic sanction against tax payers. In the tax code of all countries, the sanction of overdue fine is generally stipulated. As an accounting firms, we have a team of professionals with diversified backgrounds to help you to keep compliant with China Accounting Standards (CAS). You will have direct access to qualified accountants who understands your business all the time.
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