Accounting & Tax
Accounting Service- Income Tax Service
Part time accounting service of WFOE in Shanghai
Once your WFOE is officially registered. It's required to maintain properly accounting records in accordance with accounting standards in China and report taxes in both monthly (for business tax, individual income tax) and quarterly (corporate income tax) basis. The late submissions will face penalty and surcharges.
WFOE must register with the local tax authority for tax reporting method and applying for official invoice book which allow the WFOE to issue invoice to it's clients within China and abroad.
Our part time accountant could assist you and negotiating with your local officer to use the proper tax reporting method for your WFOE. And submit the tax reports monthly and quarterly on your behalf.
We can also advise you with tax planning opportunities this might help WFOE reduce the burden of tax of WFOE and its staff.
The details of our services are set out below and our fee schedule is set out in "Form A"
- Update the books of WFOE in accordance with the Chinese Accounting Standards
- Prepare monthly financial statements for tax filing purpose and submit if applicable
- File monthly Business Tax Return and Individual Income Tax Return
- File Corporate Income Tax Return quarterly
- Audit of Financial Statements [if applicable]
Detailed Breakdown of Fees
The figures shown in the table below are estimations and actually costs will be discussed after review of the actual operation of your WFOE
Form A:
| No. | Service | Period | Separate Cost | Package Cost |
| 01 | Update the books of accounts | Monthly | 1,800RMB/Month | 25,000RMB/Year |
| 02 | Business Tax Filing | Monthly | ||
| 03 | Individual Income Tax Filing | Monthly | ||
| 04 | Corporate Income Tax Filing | Quarterly | ||
| 05 | Audit of Financial Statements | Annually | 6,000RMB/Year |
Once the Representative Office is officially registered. It's required to maintain properly accounting records in accordance with accounting standards in China and report taxes in both monthly (for business tax) and quarterly (income tax) basis. The late submissions will face penalty and surcharges.
Representative offices must register with the local tax authority for tax reporting method. After negotiated, the tax reporting method will be fixed (for instance: the cost plus method).
Our part time accountant could assist you and negotiating with your local officer to use the proper tax reporting method for your Rep. Office. And submit the tax reports on your behalf. We could also advice you with tax planning opportunities this might help Rep. Office reduce the burden of tax of Rep. Office and it's staff.
We can also advise you of tax planning opportunities that might help mitigate the tax costs of the representative office and its staff.
The details of our services are set out below and our fee schedule is set out in "Form B"
- Update the books in accordance with the Chinese Accounting Standards;
- Prepare monthly financial statements for tax filing purpose;
- File monthly Business Tax Return and Individual Income Tax Return;
- File Corporate Income Tax Return quarterly
- Audit of Financial Statements
The figures shown in the table below are estimations and actually costs will be discussed after review of the actual operation of the representative office
Form B:
| No. | Service | Period | Separate Cost | Package Cost |
| 01 | Update the books of accounts | Monthly | 1,500RMB/Month | 22,000RMB/Year |
| 02 | Business Tax Filing | Monthly | ||
| 03 | Individual Income Tax Filing | Monthly | ||
| 04 | Corporate Income Tax Filing | Quarterly | ||
| 05 | Audit of Financial Statements | Annually | 4,800RMB/Year |