Information provided below will guide you to:
● Introduction of Wholly Foreign Owned Enterprise (WFOE)
● Documents Required & Registration Procedures of WFOE
● Accounting services after WFOE Incorporated in China
● 1 Year All Inclusive Package (Company Formation, Accounting and Audit All Included)
● De-registration of a Company (WFOE) in China (Shanghai, Beijing, Shenzhen)

Accounting Outsourcing Services for WFOEs in China
Once your WFOE is officially registered, it's required to maintain proper accounting records in accordance with accounting standards in China and to report taxes on both monthly (for business tax, individual income tax) and quarterly (corporate income tax) basis. Late submissions will face penalties and surcharges.

WFOE must register its tax reporting method with the local tax authority and apply for an official invoice book which will allow the WFOE to issue invoice to its’ clients within China and abroad. 

Our accounting outsourcing program can assist you by negotiating with your local tax officer to use the proper tax reporting method for your WFOE, as well as submit the tax reports monthly and quarterly on your behalf.

We can also advise you with tax planning that might help the WFOE reduce the burden of tax on itself and its staff.

Relevant Authorities:
Unlike in the West, the authority for formulating, promulgating and administering accounting standards is not the Accounting Society of China (ASC) or the Chinese Institute of Certified Public Accountants (CICPA), but the Ministry of Finance (MOF). ASC and CICPA are responsible for regulating, governing and monitoring the reform and development of the accounting profession in China. The CICPA also assumes administrative authority, delegated by the MOF, to serve as the bridge between the government and practicing accountants.

Government authorities in China’s accounting system

The details of our services are set out below for one year accounting services:
(1)Initial accounting system set-up;
(2)Update the books of WFOE in accordance with Chinese Accounting Standards;
(3)Prepare monthly financial statements for tax filing purpose;
(4)Prepare monthly financial statements for tax filing purpose and submit if applicable;
(5)File monthly Business Tax Return;
(6)File Corporate Income Tax Return, Quarterly;
(7)Individual Income Tax Filing for local employees;
(8)Individual Income Tax Filing for expat employees;
(9)Annual audit report
(10)Annual Inspection
(11)Annual Financial statements
(12)Annual Calculation & Declaration of income Tax
(13)Customs Annual Checking
(14)United Annual Examination


Information provided below will guide you to:
● Introduction of Wholly Foreign Owned Enterprise (WFOE)
● Documents Required & Registration Procedures of WFOE
● Accounting services after WFOE Incorporated in China
● 1 Year All Inclusive Package (Company Formation, Accounting and Audit All Included)
● De-registration of a Company (WFOE) in China (Shanghai, Beijing, Shenzhen)