China's Accounting and Auditing Services

Bookkeeping & Financial Management

• Chinese GAAP compliant bookkeeping
• General ledger management
• Accounts payable/receivable
• Cash flow optimization

Payroll Management

• Salary calculation & processing
• Social insurance contributions
• Individual income tax withholding
• Employment law compliance

Tax Planning & Compliance

• Corporate income tax optimization
• VAT management & filing
• Withholding tax compliance
• Tax deadline management

Professional Auditing

• Annual statutory audits
• Internal control audits
• Financial statement reviews
• Special purpose audits

Financial Advisory

• Strategic financial planning
• Risk management consulting
• Operational efficiency reviews
• M&A due diligence support

Regulatory Compliance

• Annual inspection filings
• SAFE/MOFCOM reporting
• Regulatory updates & alerts
• Inspection preparation

What accounting standards are used in China?

China uses Chinese Generally Accepted Accounting Principles (Chinese GAAP), which are largely converged with IFRS. All foreign-invested enterprises must maintain books in Chinese and RMB, following local standards for statutory reporting purposes.

When is the annual audit required?

All WFOEs and JVs in China must complete their annual statutory audit by April 30th each year. The audit must be conducted by a licensed Chinese CPA firm. We coordinate with qualified audit firms to ensure timely completion.

What are the main taxes for businesses in China?

The primary taxes include Corporate Income Tax (25% standard rate, with reduced rates for qualified enterprises), VAT (6-13% depending on industry), Individual Income Tax for employees (progressive 3-45%), and various local surcharges.

Can you handle payroll for expatriate employees?

Yes, we provide comprehensive expatriate payroll services including IIT calculations (considering tax treaties), social insurance enrollment where applicable, housing fund management, and coordination with your headquarters for split payroll arrangements.

How quickly can you start services?

We can typically onboard new clients within 1-2 weeks. For companies taking over from another provider, we handle the full transition including historical data migration, tax authority notifications, and system setup.