Deadlines for the Annual Compliance Review

As for the annual compliance review: it is not hard work but it needs to be done right. Do not see it only as an additional burden for your company. It is a great chance to do a small “health check” of your operations, to evaluate the tax burdens, the compliance status, the financial structure, the control mechanism etc.

After a sophisticated annual audit you are in the position to optimize your structure in China. You can get ready for the upcoming year by implementing a better structure with better internal controls and tax as well as financial transfer optimizations which will allow your business at the end to be more profitable.

Below we will list some of the key elements for foreign companies, which help to facilitate the annual compliance review in China. We need to point out that there is one element of specific importance and that is TIME. It is very important to be aware of deadlines for the annual compliance review. Missing the deadline has serious consequences such as additional money, which will be spent, additional work and even more harsh penalties that arise when not processing the documents in time.

Important Deadlines                     

If you need more information or have questions on the topic, please feel free to contact us: richard.hoffmann@ecovis.com.

	Richard Hoffmann is a partner at ECOVIS Beijing China. Richard obtained an honors degree in law and worked in Germany, the United States and China for various prestigious law firms prior to joining ECOVIS. He has published more than fifty articles in international magazines, frequently speaks at high profile events in China and abroad and is often invited as a legal expert by international TV stations. Contact: richard.hoffmann@ecovis.com
Ecovis Beijing is the trusted tax and legal advisor of several embassies and official institutions in China. It specializes in mid-sized international companies and is focused on tax & legal advisory, accounting and auditing. If you’re interested in finding out more about tax and legal, don’t hesitate to sign up to our Newsletter, give us a call +49 (0) 6221-9985639 or contact us directly via Beijing@ecovis.com.