Monthly and quarterly filing
Companies file VAT and surtaxes monthly or quarterly, and withhold individual income tax for employees. Missing deadlines triggers penalties and can affect your company's credit rating.
Annual obligations
An annual Corporate Income Tax reconciliation and the annual reporting/audit are required. Plan for these well before the deadlines rather than scrambling at year-end.
Bookkeeping standards
Books must be kept to Chinese accounting standards. Many foreign companies outsource this rather than build an in-house finance team in their first years.
Staying ahead
A compliance calendar and a responsive accounting partner keep you out of trouble — compliance issues are far cheaper to prevent than to fix.
This article is general information, not legal or tax advice. For guidance on your situation, talk to an advisor.