Why Need Submit a Timely China Annual Report after Company Registered

What is Company Annual Report in China?

As a means to corporate regulatory, one of the obligation that company in China must bear after registration is the submission of company annual report within a specific period.

China brings in the corporate credit system which means all the annual reports are available to the public.

What if Fails to Submit Company Annual Report?

A lifetime record of “Poorly Preforming Company List”
Have difficulties to do company alternation and cancellation.
The company will eliminate the qualification for working visa application, renew or cancellation.
Legal representative of the company cannot even buy air tickets, train tickets within China.
Legal representative cannot serve as the management position in other company.
Have a possibility to face fines.

Why Should Prepare the Annual Report in Advance?

The numbers of company registered in China is increasing each day. The end of a year is always busy for companies. Plus, with the non-stability of the submit system, it is better to arrange the annual report in advance to avoid surprises.

Please noted that if you own a trading Company with the import export license, please remember to submit the annual customs annual inspection as well.

Facts

To easy our clients' business expanding in China, Business China provides a one-stop company registration service and company management services.
As your company secretary, we will update you the submit of annual report on time.
We have a team of professionals with diversified backgrounds.

Comments

Company Incorp

China WFOE WFOE is the most common and acceptable business structure for major business. The registered capital of a WFOE should be subscribed and contributed solely by foreign investor(s). With a WFOE incorporated in China does not mean you can engage in any kinds of business activities, as is the case in HK and some Western countries. WFOE can only operate under the business scope approved by Chinese authorities. If the WFOE trades, wholesales, retails or franchises, we call it a Trading WFOE; if it manufactures, a manufacturing WFOE. If the WFOE implement consulting and advisory business, it is called a Consulting WFOE. If it provides food and beverage, a F&B WFOE. Joint Venture When two or more parties jointly invested & owns a stake respectively and share profits, operation expenses, risk and control of the company, we call it a Joint Venture (JV). Representative Office Although RO is generally agreed as the easiest entity for foreigners to f...

Payroll Service

Payroll procedures and regulations vary greatly in each country. We are there to guide you through the different rules and regulations, and to deliver on your behalf a smooth payroll service to all of your international employees. Salary Payment Transfer net pay electronically to employees' bank accounts Individual income tax calculation: Deduct and pay individual income tax to designated government agencies for employees Handle individual income tax filings in compliance with government regulations Employing staff in China must obey China’s new labor contract law, which came into effect in the year of 2008 and revised several times later. Business China offers customized and cost-effective payroll management solutions for foreign SMEs or start-ups all over Mainland China. Company Type for payroll services: WFOE (Wholly Foreign Owned Enterprise) JV (Joint Venture) RO (Representative Office) Checklist for payroll service: Payroll proc...

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 ta...

BC Partners Consulting Limited

Search This Blog