Taxation Services_Tax & Accounting

Benefits of Outsourcing Your Tax & Accounting Services

You can devote full focus on your core business operations with less time taken up on accounting work.
It can save your cost on running business, human resources and employee management.
The complex areas of the Chinese Accounting Standards and tax reporting are entrusted to teams that deeply understand them.
Our accounting professionals are up-to-date with the latest rules & regulations, with clear foresight on the upcoming standards.
Precise accounting information submissions to the Chinese authorities are very important as there can be strict penalties for incorrect or misrepresentation of information.
We can counsel on the tax structures & planning, which can potentially reduce your tax burdens.

How can we help you ?

Professional Service Team

RY Consulting has a teams of experienced accountants and senior accountants with over 15 years experince in accounting & taxation service in China. We provide accounting, auditing, tax services for foreign-invested companies at competitive price and fast response.

One-stop Solution Provider

The service teams of RY Consulting has been specialized in business services for over 15 years. We not only assist our clients to register Chinese companies, open bank accounts, accounting & taxation services but also provide many other services our clients request, such as services of Hong Kong companies, Singapore companies, China visa, license application and etc.

Accountnig, Auditing and Taxation Service Package

Bookkeeping：

Maintaining books and records in accordance with China rules and maintaining the general ledger;
Monthly report:

Preparing of monthly report on the calculation of tax payable in the current tax period in English;
Financial statements:

Preparation of financial statements in conformity with the accounting provisions in China: profit and loss account, balance sheet and cash flow statement;

Tax filing:

Preparing and filing tax reports to China tax authorities (Income tax, VAT, personal income tax, etc);
Audit procedure:

Arrangement of compulsory procedure of auditing and issue audit report；
Tax advisory:

Consultations regarding taxes and accounting in China.

Frequently asked questions for Taxation in China:

Do I need to outsource the tax filing work to professional agency?

Yes. Most people choose tax service agency when they start their companies in China.

The accounting and tax systems in China is considered to be quite complex and different from other countries. It is better to find professional service team to do the work for you in order to avoid any non-compliance penalties.
When should I begin to worry about tax of my company in China?

We suggest you to prepare for tax filing from the very begining when your company is registered in China.

The tax account must be registered soon after your company is officially registered.

The corporate income tax, individual income tax of your employees and value added tax need to be filed on monthly or quarterly basis.

Before the dealine of tax filing, all of your income, cost, expenses must be calculated correctly and the accounting should be finished and tax filing documents must be ready.
How often should taxes be filed in China?

In China, corporate income tax can either be settled quarterly or annually, with adjustments being refunded or carried forward to the following financial year.

Companies in China will have to file VAT on monthly or quarterly basis, general taxpayers on a monthly basis, whereas small-scale taxpayer on a quarterly basis.

The monthly or quarterly tax filing deadline is the 15th day of the subsequent month. If the 15th falls on a weekend, the deadline will be moved to the next Monday. Furthermore, due to public holidays, the monthly/quarterly tax deadline may be altered pending a notification from the tax authorities.
What preferential tax policies can I enjoy?

The standard corporate income tax rate in China is fixed at a rate of 25%. The amount of CIT payable can also be eligible for certain exemptions or deductions.For small and low profit businesses a special beneficial tax policy has been implemented.

If a company’s annual profit is below RMB 1 million, a CIT rate of 2.5% is applied.

If a company’s annual profit is between RMB 1 million and RMB 3 million, a CIT rate of 10% is applied.

If a company’s annual profit exceeds RMB 3 million, a CIT rate of 25% is applied.

This preferential policy for small and low profit enterprises will remain in effect until 31 December 2024.
How do I know if I'm a tax resident of China?

For tax purposes, you’re considered a resident in China if you spend at least 183 days of the year in the country. If your country does not have a double tax treaty with China, the threshold comes down to 90 days. A great many countries do have this treaty, so 183 days is the standard.

Expats have to file monthly tax returns in China, but this is usually done by the employer on the employees' behalf. Technically, expats are obliged to take care of their own annual tax filings.
How do I legally take money out of China?

If it comes time to leave China and you want to take all that hard-earned cash out with you, you're free to do so: as long as you can prove that you've paid all the appropriate taxes on it, you're free to move it out of the country up to any amount you'd like.

The banks may require some documentation to prove that all your taxes are accounted for. When you visit your bank to start the process, make sure you bring tax bills and payroll slips as well as the standard work contract, passport and work permit.

Help You Deal with Taxation in China

Important Taxes You Need to Know in China

Income Tax

Value Added Tax

Benefits of Outsourcing Your Tax & Accounting Services

How can we help you ?

Accountnig, Auditing and Taxation Service Package

Bookkeeping：

Monthly report:

Financial statements:

Tax filing:

Audit procedure:

Tax advisory:

Frequently asked questions for Taxation in China:

Years of experience

Clients Served

Reactivity

Our Qualifications

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