Joint Annual Exam
Thanks to the improved investment environment in China, more and more Enterprise choose to establish a foreign investment enterprise in China. The Chinese government requires the related authorities to jointly perform an annual examination on the foreign investment enterprise, so as to ensure that the sustainability of the legal interests of Enterprise.
Benefited from its profound knowledge of the business environment in China, UWS provides professional advices on the enterprise’s business operation in the forthcoming year based on its operation status in addition to the provision of the joint annual examination for foreign investment Enterprise in China.
Procedures of the Joint Annual Examination
Providing the required information for annual Examination → Issuing an audit report by the CPA → Conducting the joint annual examination and reporting → Filing with the related authorities to stamp for the annual examination → Transferal of the relevant information.
Dates for the Joint Annual Examination
The company is required to conduct the joint annual examination from 1 March up to 30 June every year commencing from the second year following its establishment and once a year thereafter.
Related Authorities for the Joint Annual Examination
- Bureau of Foreign Trade & Economic Cooperation
- Administration for Industry and Commerce
- Financial Bureau
- National Tax Bureau
- Local Tax Bureau
- Bureau of Statistics
- Administration of Foreign Exchange
Late Performance of the Joint Annual Examination
An enterprise is subject to a penalty for late performance of the joint annual examination from the related authorities according to laws and regulations. An Enterprise that suffered from serious lateness for the joint annual examination will be compulsorily deregistered.