Tax ComplianceInnovative and Tailored Solutions To Be One Step Ahead of Your Tax Obligations
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- Value-Added Tax (VAT).
- Corporate Income Tax (CIT).
- Individual Income Tax (IIT).
About Tax Compliance
For legal reasons, businesses are required to fulfill regular and annual tax obligations. The burden falls on the business to accurately calculate the tax liability and report to Tax Bureau according to newest tax laws and regulations.
Our reliable tax compliance services keep you ahead of your tax obligations. We will complete your tax filing on time, accurately report your assessable income, and help minimize your tax liabilities.
We are monitoring and adapting to the regular changes in tax regulations for you.
We can offer you tax advice on optimizing your tax spending, decreasing the risk of double taxation, tax incentive systems, and more.
Our Services
Monthly & Quarterly Statutory Tax Filing
- Calculating the tax based on the book-keeping
- Preparation and submission of periodic tax return (in which case the VAT, Individual Income Tax (“IIT”) & Corporate Income Tax (“CIT”), stamp duty are included)
- Informing the company of payment of the tax statement
- Coordinating with the competent tax authority for daily tax issues and answering the general questions on tax filing of the company
Monthly Billing & Invoicing
- Handling printing and issuance of output VAT fapiao according to the orders or contracts
- Purchase of blank Tax invoices (“Fapiao”) from the tax bureau
- Collection of input VAT fapiao from purchases, and verification for a tax deduction
- Application of invoice billing quota increase in Tax bureau if required
Year-end Corporate Income Tax (“CIT”) Annual Return Filing
We make all the preparations and arrangements for the CIT annual tax filing. We also arrange for annual inspections with key statutory bodies.
Export VAT Rebate Application
- Preparing all the documents for the export tax rebate application
- Filling the application of VAT refund in the system of “China international trade single window”
- Assisting to obtain the VAT refund
Frequently Asked Questions
For a company registered in China, it is required to have monthly, quarterly, and annual tax filing for VAT, CIT, and IIT.
The VAT rebate can be applied after the goods are exported. There is no dedicated time limitation. But it will cost time to fill out the application forms and prepare the invoices. We propose to do it monthly or quarterly. Normally the VAT will be returned in 1-3 months.
Fapiao is issued by the Tax Bureau. The companies shall purchase them from the Tax Bureau and print the correct information via a specific fapiao system. And the quota and maximum value of fapiaos are limited.
When you sell overseas, it is not mandatory to issue a fapiao. But for domestic sales, your clients need a fapiao to declare their cost and deduct the VAT.
For a small-scale taxpayer, which revenue should not be more than 5 million CNY, the VAT is 3%. For a general taxpayer, the VAT is 6% for services, 13% for goods, and 9% for logistics and specific goods. The general taxpayer can deduct the purchasing VAT from the sales VAT. To apply the deduction, the company must get a special VAT fapiao from the suppliers.
By the tax regulations, the CIT rate is 25%. However, the Chinese government wants to encourage SMEs and lower it to a progressive rate: 2.5% for the profit less than 1 million CNY and 5% for the profit from 1 million to 3 million CNY. If the profit is more than 3 million, the CIT rate will be 25% for all profits.
The IIT rate is a progressive rate from 3% to 45% for salary.