Bookkeeping,
Tax Declaration &
Tax Risk Management

The Chinese Accounting Standards | Similar but Different

The Chinese accounting system follows the Chinese Generally Accepted Accounting Principle (GAAP) framework, also known as the Chinese Accounting Standards (CAS). These standards have been revised regularly and evolved over time and now they are quite in accordance with the globally recognized International Financial Reporting Standards (IFRS) & US GAAP. In spite of the several reforms, changes there are enough differences to pose challenges. It is important to realize that the process and standards are no different from most of the countries and accounting is nothing new. But clearly, adapting your business to the rules, regulations, and standards of tax and accounting in China is not straightforward.

If you have recently opened a Chinese company, or are running one now, and need help with accounting, then this service is ideal as it includes the 'essentials' for handling your monthly and annual accounting.

The following elements make up this service:

Bookkeeping (amount charged will depend upon on business volume)

• Accounting documents preparation, accounting books, registration and accounting statements compilation
  
• Subsidiary ledger of fixed assets
  
• Subsidiary ledger and general ledger of inventories’ quantity and amount 
  
• Written feedback and communication of monthly abnormal items
  
• Bank deposits balance, legality and compliance of original documents, rationality of financial data
  
• Issue office Fapiao 5 times

Tax Declaration Service

• Declare VAT and individual income taxes
  
• Pre-declare corporate income tax and final settlement of annual income tax
  

Tax Filing

• File Accounting books and tax declaration documents: Bookkeeper prints and file types of documents monthly and prints accounting books yearly
  

Tax risk management

• Profit, goods turnover tax, and income tax management
  
• Seasonal Balance Sheet and data analysis, adjustments and suggestions
  
• Providing assistance when communicating with the local tax office relating to company's accounts
  
• Providing tax advisor service and taxation self-checking advice
  
• Make updates to company’s registered information (Does not include shareholder changes)