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

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. 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 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 bilingual 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

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