With our experienced accountant and mature UFIDA ERP software, we assist you set up accounting system based on your business needs and China GAAP.
1. Set up standard Chart of Accounts (COA) with detailed explanation in accordance with PRC GAAP and your business needs.
2. Set up cost center or profit center and other analysis factors based requirements raised by your management
3. Set up internal accounting policies;
4. Set up other internal management reports needed;
We could assist you in:
1. Prepare template forms, like expense application from, payment application form and etc., for you to fill in.
2. Based on the material collected, to generate accounting documents and record it into our UFIDA system.
3. Generate all sub-ledgers, general ledgers and make monthly books.
4. Prepare balance sheet, cash flow and profit and loss report and etc.,
5. Avoid unnecessary tax advice.
We generally provide you the following services:
1. Based on the accounting information you provided or we prepared (under the situation we provide you the bookkeeping service), to prepare monthly, quarterly various tax returns, such as corporate income tax, individual income tax (exclude expatriates or foreigners), business tax, value-added tax, etc.;
2. Deliver these well prepared returns to you or your designated person for review and approval (signature and chop);
3. After your confirmation, to submit these returns to your responsible tax authority timely to accomplish your filing obligations;
4. Deliver the tax payment request to you for your payment purpose, now it is deducted automatically after the tax returns has been submitted.
General VAT tax payer application
Generally there are two type of taxpayer in China, one is called small taxpayer which is automatically obtained when you get tax license. Another is general taxpayer which is you need to prepare documents to apply for it.
The comparison for the two taxpayers are:
|Taxpayer type||VAT percentage||Comments|
|Small taxpayer||3%||Not deductible when get VAT fapiao from supplier. It is good for the consulting company.|
|General taxpayer||17%||Deductible when get VAT fapiao from supplier. If you are doing trading business, most your customer will require 17% VAT fapiao from you.|
Export VAT refund certificate application
If you are doing export business in China, after you got General taxpayer certificate, then the most important thing is to apply for export VAT refund certificate. That means you will get VAT refund from government. China government always encourage companies to export, and the VAT refund percentage is quite high, the average VAT refund percentage is 15%.
The procedure to get Export VAT refund certificate for you could be complicated, we can assist you prepare document and get this process smoothly and timely.
All PRC enterprises, shall submit the whole set of Annual Corporate Income Tax(CIT) filing returns which contains about 30 reports for the last year before the end of May of next year. With the consideration of a number of discrepancies between PRC accounting system and its CIT scheme, CIT annual filing always requires more knowledge and experiences and the filing requirements are generally very complicated. We will assist our clients through the following procedures:
1. Collect all original accounting and tax documents from your management or accounting department, including trial balance, balance sheet, profit and loss, tax payment notice, detailed expense reports and other required information;
2. Based on the above information collected, we will prepare the list of tax adjustments, explanation report and the annual filing returns, and will send them to your management for their review and approval;
3. We could also arrange a meeting to elaborate the reason for all adjustments, if so required;
4. With your approval, we will print out all annual filing documents and send them to you for your signature and stamp; and
5. We will then submit these annual filing returns to your responsible tax authorities, and will deliver the tax payment notice to you, if applicable.