Shenzhen company annual report refers to the company's financial reporting and other related documents throughout the fiscal year. In line with China’s Company Law, all WFOEs that are operating from within China as well as foreign-invested enterprises, representative offices and joint ventures located in China are required to comply with rules that require them to present a statutory annual report.
Content of Annual Report
The following are some of the things that an annual report in China will include:
1. Contribution of the shareholder or the contributor;
2. Operation report of the company;
3. Internal Auditing with the help of Audit Firm;
4. Implementation and change of the company's registration particulars;
5. External investment of the company;
6. Establishment of branch offices by the company.
Significance of Company Annual Report
Foreign invested enterprises that operate within China are allowed to distribute and repatriate their profits back to their home countries provided that the annual statutory internal audits have been carried out, and after the settlement of all relevant tax liabilities.
There are serious penalties for failing to submit an annual report. Once your company gets listed in the business exception list, the business shall be restricted or banned from any further financing, application for the government land supply, import, and export, registration of a new company, bidding, government procurement, manufacturing production and business operation, professional qualifications application, to name only a few.
How to File an Annual Report in Shenzhen
The annual report process entails many factors. One is the annual renewal, which refers to the statutory procedures for the examination and approval of enterprise that are operating within China. This is carried out by the administrative departments of industry and commerce, which determines the qualification of an enterprise to continue their business operations within China.
Shenzhen company annual report process can be complicated and time consuming when done alone, you need the services of Tannet who has the experience and expertise in delivering exceptional services. In addition to this, Tannet can also help you in company formation, bank account opening, accounting and tax filing, global trademark registration, barcodes application, China custom recordation, so on and so forth.
Contact Us
If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.
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