The business operating environment in China is changing every day. Until now, the business development model of a foreign company was to dispatch a large number of executives to subsidiary’s higher positions to carry out the same management model as the headquarters. However, in a business environment where COVID-19 restricts the flow of people, we need to transit from the traditional management model to train capable local human resources to achieve the localized business management.
POINT When discussing the localization, it is important to think about the localization of finance practice, especially the tax practice of subsidiary. Although, many companies are moving to localize their Chinese businesses in terms of marketing and sales, many seems to hesitate to localize their financial accounting systems.
However, without “localizing the accounting and tax practice”, a company cannot achieve “localized management”. With delegating a large part of finance work such as tax calculation and tax filing to local executives, it is also important to provide minimum but necessary support and “proper” supervision to the local executives.
As a localized professional team, we can provide effective and efficient accounting and tax reconciliation services. We mainly advise on three major tax issues including but not limited to corporate income tax, VAT and personal income tax to establish and strengthen your company’s “tax risk management” system.
Our Services
Domestic Taxation: tax filing of corporate income tax, VAT, personal income tax / verification of calculation / issuing review memo or second opinion on tax filing and calculation
International Taxation:Assessing tax risks associated with permanent establishment taxation, transfer pricing, and other cross-border transactions
Staff training: domestic accounting taxation, international accounting standards, international taxation from general taxation to company-specific tax issues.
