When a company is set up in China, for example, a Wholly Owned Foreign Enterprise (WOFE), owners and directors are required to keep proper records and abide to local accounting standards and tax matters.
The standards and procedures may differ from city to city so it is always advised to seek local accounting firm or professional to handle such chores.
For a small outfit, the estimated yearly fee for bookkeeping and audit ranges from RMB 30,000 to larger amounts depending the size of turnover, location of the operation and volume of business transactions. This we are talking about outsourcing the entire accounting chores to external professional firms.
Because business tax is to be submitted to the local authority on a monthly basis it is advised that businesses with smaller volume should engage professional firms which could handle the chore rather that hiring staffs.
China Knowledge Consulting has more than a decade of experience and knowledge in providing and supporting the needs of our clients in wide areas of professional of services and had established a wide network with the most reliable professional service providers in China. We work closely with local authorities to ensure your needs are well managed and professionally executed.
To know more how you can best manage the accounting aspects of doing business in China you can write to us to enquire more. There is no financial obligation to seek our advice. You can write to email@example.com and seek our specialists’ advice.
The basic services we offer as a consultant are:
Bookkeeping & accounting
Monthly & quarterly tax submissions
Annual tax submissions