Accounting and Bookkeeping

Accounting and bookkeeping are integral components of any business. Bookkeeping services will ensure that reliable and accurate books are kept for your company, enabling you to make informed decisions promptly in order to minimise risks and maximise profits. An effective accounting system can have a significant impact on a company’s productivity as well as its profitability.

Operating a company requires detailed attention to financial management and internal controls. This responsibility is particularly onerous in China due to local administrative requirements and the different standards applied to local and foreign-owned enterprises.

Companies must also pay the salaries of their employees in a timely manner and ensure their income tax and social security compliance in terms of withholding, calculations and reporting.

While maintaining accounting documents to China’s Generally Accepted Accounting Principles (GAAP) and tax regulations is essential, so too is maintaining the company’s relationship with its appointed tax official, who possesses considerable discretion when it comes to interpreting the regulations governing a company’s tax obligations.

Sovereign China assists clients to maintain a good working relationship with local tax authorities and to ensure that all accounting documents and records are fully compliant by providing a dedicated team of licensed, bilingual tax accountants that is experienced in meeting both international standards and local requirements.

Key accounting services include:

  • Initial set-up services
  • General VAT taxpayer status application
  • Accounting, tax and regulatory compliance
  • Monthly bookkeeping
  • Payroll and HR outsourcing management
  • Group financial reporting
  • Payment processing and corporate secretarial services
  • Invoice management services
  • Export VAT rebate processing
  • Advisory services including, financial planning, tax planning and internal auditing

From a full back-office outsourcing solution to standard tax and regulatory compliance assistance, Sovereign China provides its clients with the resources and expertise they require in order to achieve long-term success in China.

Interested in Accounting and Bookkeeping?

Asia Focus – September 2019

  • Hong Kong remains of crucial importance to Mainland China
  • “Future-proofing” your business – redomicile to Singapore
  • Shanghai FTZ expands into Lingang New Area
  • Global tech giant opens R&D facility in Hong Kong
  • India-China tax treaty protocol enters into force
  • Singapore and South Korea sign updated tax treaty
  • China issues 2019 Negative Lists and Encouraged Catalogue for Foreign Investment
  • Singapore – the ideal family office location

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Sovereign Trust (Gibraltar) Limited
Tel: +350 200 76173