Accounting and tax filing in China for foreign-invested companies

China’s tax laws and accounting rules can be unfamiliar to international businesses, and are subject to regular update. MSA’s accounting and tax experts have a comprehensive understanding of local tax rules and can help you address these challenges. Our integrated accounting and tax services team empowers you to manage tax accounting risks effectively and unlock value through streamlined financial processes. We simplify administration, guarantee full compliance, and provide direct access to experienced China CPAs, licensed tax advisors, and accountants.

China Accounting & Tax Filing Services

• Accounting Services: Maintaining compliant financial records and submitting monthly statements under PRC GAAP (China’s accounting standards) can be challenging for foreign businesses. We alleviate this burden by providing day-to-day bookkeeping, monthly accounting, financial reporting, and expert advice on Chinese accounting policies. Our customizable services also include banking & treasury, international payment handling, company chop custody, VAT invoicing, and expense reimbursements.
• Tax Filing: Meeting monthly tax obligations in China’s evolving regulatory environment requires strong local tax knowledge to minimize compliance risk. We support foreign businesses with the entire process, including monthly filings, corporate income tax calculation, export VAT refunds, annual income tax returns, and transfer pricing.
• Consolidation: Understanding the differences between PRC GAAP and international standards like IFRS is crucial for companies in China. Our qualified advisors and CPAs help clients understand their Chinese subsidiary’s financials by converting statements to group reporting standards and annual audit reports into bilingual formats aligned with your home country’s accounting standards. We also offer comprehensive audit support to ensure compliance and minimize risks.

Benefits of our China Accounting & Tax Filing Services

• Dedicated and Bilingual Account Management: Enjoy the convenience of a single, bilingual point of contact for all your accounting, tax filing, and consolidation needs, ensuring seamless communication and efficient service delivery.
• Risk Mitigation: Minimizes the risk of errors and non-compliance in accounting and tax matters.
• Effective Communication: Provides bilingual annual audit reports compatible with home country accounting standards.

Engage MSA As Your China Tax and Accounting Partners

Comprehending China’s distinct accounting environment is vital for international companies. Adhering to PRC GAAP (Chinese Accounting Standards), which varies from IFRS and US GAAP, poses a considerable challenge. Efficiently managing financial reporting, monthly statements, and adapting to changing regulations demands specialized expertise. Language barriers, diverse accounting interpretations, and keeping abreast of frequent reforms are common obstacles. Engaging with seasoned professionals offering services such as bookkeeping, tax filing, and consolidation, while reconciling local and global standards, is key for seamless operations and reducing non-compliance risks within the Chinese market.

To engage MSA to handle tax and accounting matters for your business, get in touch with us today.