Accounting services and audit of representative offices in China

Any company in China is subject to a number of obligations with local government authorities. Taking into account the peculiarities of the region and local legislative regulations, it is very problematic to do accounting on your own here. In addition, due to the lack of knowledge of Chinese language and relevant certificates, an entrepreneur cannot employ domestic specialists in accounting.

UGL Corporation provides a full range of services related to accounting and audit of representative offices in China. Accounting service of representative offices is provided by competent employees of our company, who since 2005 have been engaged in tax accounting and reporting for foreign structures in China.

What is the service “accounting service of representative offices in China”?

Accounting service of representative offices means keeping accounting records with monthly preparation of accounting books and control of original primary documents in any city of China, reports are prepared and submitted in Chinese language, and the client receives them also in translation into Russian. This includes: preparation and submission of accounting reports, timely completion and submission of monthly and quarterly tax returns and much more. According to the Chinese legislation, all representative offices of foreign companies operating in China are obliged to carry out accounting according to all rules of the country where their representative office is located, or rather according to the “Law on Accounting of the People’s Republic of China” and “Enterprise Accounting Regime”, as well as a number of other rules and regulations. Besides accounting, our specialists are responsible for:

• regular submission of tax reporting of your representative office;
• calculation and control of tax payments, in accordance with the laws of the PRC;
• calculation of individual income tax on salaries of Chinese and foreign employees;
• control over the payment of contributions to the compulsory social and health insurance funds for Chinese and foreign employees;
• notifying clients prior to the end of registration and the need to renew relevant documents;
• preparation of annual financial statements;
• preparation of the annual inspection and tax audit report.

We would like to remind you that documentation is handled by our experienced staff with knowledge of Chinese, English and Russian. All accountants of our company have relevant certificates of medium and higher category, as well as experience working with foreign structures operating in various areas of business. It is they who prepare the necessary documentation and prepare all reports for submission to the official authorities of the People’s Republic of China.

At the end of the month you will receive a report on the work done with the relevant documents related to taxes and accounting in Russian and Chinese. Provision of reports on the work performed is carried out before the 15th day of each month following the reporting month, which allows the business owner to fully control the activities of the structure in China.

Why we have been chosen by partners from Russia and CIS countries since 2005:

1. translation of reports and primary documentation into Russian;
2. optimization of taxation in the group of companies;
3. calculation of taxes and social payments of the company’s employees;
4. advice and recommendations on accounting according to the client’s situation and goals;
5. opportunity to work in systems of automated accounting, including 1C.

In addition, the company UGL Corporation Ltd. provides services:

• Registration and re-issuance of work visas for foreign employees. The procedure is performed once a year.
• Organization of registration, re-registration, extension and execution of any documentation in the administrative authorities of China.
• Providing services on VAT refund when exporting goods from China.

Also our company is engaged in optimization of tax deductions. The procedure is performed individually for each client. This approach to work allows us to build the most convenient scheme of optimization, which will show its effectiveness in a couple of months.

Working with the specialists of UGL Corporation Ltd., you trust the system of tax and accounting in the safe hands! Contact the managers of our company, you will be consulted for free.