After a new WFOE or Rep office is formally established, it's required to maintain proper accounting records in accordance with accounting standards in China and to report taxes on both monthly (business tax and individual income tax) and quarterly (corporate income tax) basis. Late submissions will face penalties and surcharges. WFOE must register its tax reporting method with the local tax authority and apply for an official invoice book which will allow the WFOE to issue invoice to its clients within China and abroad.

We understand it takes time for a new company or office’s regular staff to be in place. Financial outsourcing will be an excellent choice. The cost of taking financial outsourcing service is only 20% to 30% of keeping a regular accountant. Clients don’t’ have to sign labor contract with our financial service specialist means there is no labor risk. Moreover, our accountant can assist you by negotiating with your local tax officer to use the proper tax reporting method for your WFOE, as well as submit the tax reports monthly and quarterly on your behalf. Our experienced accountant will also help clients to establish a formal financial system. Clients can usually get rewarding suggestions from our accountant to avoid tax legally as well as reduce legal risk.