BRIGHTURE

"In order to strengthen the supervision and administration of enterprises, the annual inspection of enterprises is a legal requirement whereby regular checks on the relevant conditions of enterprises are performed depending on the annual inspection documents submitted by the enterprises once a year."

Annual Business Inspection

All Foreign Invested Enterprises (FIE) such as Wholly Foreign Owned Enterprises (WFOE), Joint Ventures (JV) and Representative Offices (RO) are required to be audited on an annual basis. This statutory requirement has to be met prior to business license renewal every year.

We will undertake the annual audited financial report. We will organize your annual balance sheet, profit and loss statements, bank statements etc. for the annual inspection and the issued audit report in preparation for submission.

We can also help submit the Annual Taxation Consolidation Reporting Package to the national and local tax bureaus; in which we will verify all taxes including VAT, Business Tax, Consumption Tax, Foreign Enterprise Income Tax (FEIT), and others. Consequently we can help to manage any discrepancies between tax figures and resolve rebate or payment issues.

The basic procedure for annual inspection:

Enterprise submits “Annual Inspection Report” and other related documentsRegistration authority receives documents for annual inspectionInspected enterprise pays inspection feeThe registration authority affixes inspection sign and seal to the business licenseThe registration authority returns the business license

The assessment includes but is not limited to:

The Formalities and archival filing for branch establishment;The Formalities and archival filing for the modification of its articles of association or the alteration of its directors, supervisors or managers;The Formalities alteration registration and equity transfer;The Formalities and archival filing in accordance with liquidation procedures (if applicable);Business expiration;The validity of licensing certificates;The validity of business operations within the given business scope.