Presentation: Accounting and Tax Compliance in China

Presentation: Accounting and Tax Compliance in China

November 17, 2016

With the full enactment of the business tax to VAT reform prior this year, China’s tax and accounting framework is as yet advancing at a quick pace toward a complex component. In this meeting presentation with AmCham, Ines Liu, Senior Associate and individual from the International Business Advisory group in Dezan Shira and Associates’ Beijing office, talks about accounting and tax compliance in China. Amid the talk, you will absorb more about the accounting components of China’s tax and accounting prerequisites and how they vary from those in the west.

Key takeaways

Taxation influences all parts of working together in China. With a peculiar legal framework generally unique to that of Western nations, having a solid comprehension of China’s tax liabilities empowers foreign investors concurrently amplify the tax effectiveness of their overseas investments while guaranteeing full agreement with the nation’s tax laws and regulations.

This additionally applies to the nation’s accounting framework, in which its generally acknowledged accounting standards shift in specific areas from international practice. With its own particular interesting features, for example, the fapiao framework, China’s tax and accounting environment show an overwhelming on first observation. Getting comfortable with these accounting and tax compliance issues is the way to maintaining a fruitful business in China.

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